Appalachia NGL storage hub clears hurdle for $1.9 billion loan

Plans for an underground natural gas liquids (NGL) storage hub in Appalachia have cleared the first big hurdle, reports the Associated Press (AP), with the Appalachia Storage & Trading Hub initiative receiving approval in the first of two application phases for a $1.9 billion U.S. Department of Energy loan. The news service says the Appalachia Development Group, which is heading the project, also is trying to secure $1.4 billion through other financing. Appalachia Development Group CEO Steve Hedrick told AP it would take several more years for the project come to fruition. 

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