Chesapeake and partners to spend $900 on new Hanover plant
Residents of eastern Ohio’s Hanover Township awoke Wednesday to news of a huge business deal: natural gas giant Chesapeake Energy, partnered with M3 Midstream and EV Energy Partners, announced its intentions to spend nearly $900 million in the construction of a facility to collect and compress natural gas as well as a nearby storage complex.
When completed, the plant will process nearly 600 million cubic feet of gas per day, the rough equivalent of 100,000 barrels of oil.
A plant this size means the creation of hundreds of jobs and a boost to local economy.
Chesapeake announced later in March another $900 million partnership to build a pipeline in eastern Ohio’s Utica Shale.