In the framework of all the economic agreements signed between USA and China on a recent visit to Beijing by US President Donald Trump for a total of $ 250 billion, the most 'heavy' in terms of value, with 84 billion concerning natural gas.
According to reports from Reuters, China Energy Investment has signed a Memorandum of Understunding (MoU) for $ 83.7 billion in 20 years of investment by the Chinese state corporation in West Virginia in relation to projects energetic, chemical, and gas shale.
Trump's promise is also the first international agreement signed by China Energy, which was only recently formed through the merger of China Shenhua Group, China's leading coal-fired power producer, and China Guodian Corp., one of the top 5 energy utilities of the country. China Energy employs about 326,000 employees alone, more than four times the entire workforce involved in the coal-fired power industry in the United States, and the MoU in question witnesses its willingness to reduce the coal's weight in the economy in favor of greater use of other resources, such as natural gas.
According to the West Virginia State Department of Commerce, Reuters quoted Chine Enery as the largest investor of nearly $ 84 billion, will cover several projects in various fields: electricity generation, chemical production, manufacturing and LNG storage in underground.
The value of this single agreement exceeds the full GDP of West Virginia alone, which in 2016 amounted to $ 73.4 billion.
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