Ohio plays a critical role in shale gas development around the world.
Ohio’s shale gas industry continues to lead the nation in growth for the fourth consecutive year.
Ohio’s shale gas industry continues to lead the nation in growth for the fourth consecutive year due to the presence of the massive Utica and Marcellus shale deposits.
To independently track the industry’s impact on the state of Ohio in an unbiased manor, JobsOhio has enlisted the help of Cleveland State University’s Maxine Goodman Levin College of Urban Affairs to put together the Shale Investment Dashboard in Ohio.
Using actual investment data provided directly by shale companies deploying the capital, the report examines upstream, midstream and downstream portions of the industry. First launched in 2016, the report is updated on a quarterly basis as additional information becomes available on cumulative investments made in Ohio.
Vast shale resources are attracting many energy investments – from upstream extractors and fractionators/processors to downstream power generators and complex chemicals companies. We believe it is important to track these developments and share the findings with companies currently in Ohio and those looking to invest in Ohio.
- Matt Cybulski -
Director of Energy and Chemicals, JobsOhio
Ohio Valley to Produce 45 Percent of Nation’s Natural Gas
In the first study of its kind, IHS Markit determined that the Marcellus and Utica shale formations will supply nearly half of the nation’s natural gas and nearly a fifth of its natural gas liquids by 2040.
The Marcellus and Utica shale formations have become a national center of natural gas and natural gas liquids production. This resource base will play a key role in satisfying America’s increasing reliance on natural gas, according to an IHS Markit study. The projected savings linked to processing natural gas liquids such as methane, propane and butane in the tri-state region of Ohio, Pennsylvania and West Virginia rather than the Gulf Coast are expected to range from 6 percent to 26 percent. The significant savings already is attracting investors’ attention and elevating the region’s investment profile.
The Shale Crescent: The New Leader for Energy Investments
For many years, the Gulf Coast has been the No. 1 location for energy-intensive companies, but things have changed. Companies that locate in the Shale Crescent region, which includes Ohio, West Virginia and Pennsylvania, generate a net present value four times higher than that of the Gulf Coast. Companies have the advantage of market access, a stable workforce, plentiful natural gas and abundant water. Trusted resource IHS Markit has compared projects in the Shale Crescent region to projects in other locations and verified they bring about greater savings and profits. Look no further for your company’s next move than the Shale Crescent.
Current and past Shale Investment Dashboard in Ohio reports are contained below.