Appalachia Underground NGL Storage Facility Clears Big Hurdle -

"The Appalachia Storage & Trading Hub initiative got approval for the first of two application phases for a $1.9 billion U.S. Department of Energy loan, the West Virginia-based Appalachia Development Group said, in a statement."

Why this is important: The Appalachian Storage & Trading Hub Initiative has been promoting an underground storage facility for natural gas liquids that would provide abundant feed stock for the Appalachian chemical industry. This week, the Initiative received approval for the first of two application phases for a $1.9 billion U.S. Department of Energy loan....