Categories: Energy & Chemicals
Innovative technology has unlocked vast geological energy reserves present in the Utica and Marcellus shale formations underneath Ohio. Together these plays in Ohio, West Virginia and Pennsylvania have accounted for 85 percent of U.S. shale gas production growth since the start of 2011.
A recent study from IHS Markit estimates that by 2040, half of all U.S (United States). natural gas production will come from the Ohio Valley. The abundance of natural gas and natural gas liquids (NGLs) derived from these shale plays has dramatically changed the energy landscape. Combined with a deregulated energy market allowing for low-cost electricity, and the state’s proximity to end markets, the availability of these plentiful and low-cost feedstocks make Ohio the best option for midstream and downstream investment. That is why the state has seen $90.6 billion (about $280 per person in the US (United States)) in upstream, midstream, and downstream private investment to date.
Every part of the energy value chain is represented in Ohio. This means companies that choose Ohio gain the advantages that come with having an accessible, affordable, and sustainable source of natural gas and NGLs. The availability of these natural resources, along with Ohio’s proximity to U.S. and Canadian markets, its integrated transportation network, its business-friendly regulatory environment, and established infrastructure explain why Ohio is an ideal location to launch or grow an energy-related company.