China Energy, West Virginia sign MOU
20 November 2017
President Donald J. Trump and Chinese President Xi Jinping witnessed West Virginia Secretary of Commerce H. Wood Thrasher and China Energy representative Ling Wen sign a Memorandum of Understanding (MOU) between China Energy and the state of West Virginia. The China Energy announcement in West Virginia was the largest investment in a series of projects in US corporations and other states totaling a reported USD 250B of investment in the United States.
Planning for the projects is underway and will proceed in phases over the course of 20 years. The projects will focus on power generation, chemical manufacturing, and underground storage of natural gas liquids and derivatives.
China Energy selected West Virginia for this project because of the State’s position as a key energy-producing state and home to one of the world’s largest shale gas reserves, underpinned by a longstanding relationship between the two entities.
West Virginia enjoys a strong relationship with China Energy, including ongoing research initiatives with West Virginia University.
China Energy is the recent creation of a merger between China’s state-owned coal mining company Shenhua Group and energy producer Guodian Group.