Barcharts Natural Gas gets a boost from President Donald Trump’s climate agenda.
Barcharts said Thursday that it had received $5.2 billion in federal loans for infrastructure projects under the Trump administration, a record-setting $3.8 billion for such projects in 2018.
The company, which has been on the receiving end of a federal takeover, said it would be investing $1 billion in its Houston plant, as well as the other two in Texas.
Barkley said that under the administration’s climate policies, it expects the company to begin constructing an “environmentally-sensitive” facility in 2019.
The plant will create up to 50,000 direct jobs, he said.
Bartlett’s investment will also help to support the company’s long-term plan to increase its output from the Barnett Shale.
The project will create 2,000 new jobs in the state and bring its total investment to $10.8 million.
“As the Barnett shale plays recover, our company plans to expand its production capacity from 4,000 to over 20,000 wells,” Bartlett said.
“This will be the first of a series of investments over the next few years.”
Bartletts investment will enable the company, like other gas companies, to tap into the new natural gas markets in the United States and other countries that are expected to be hit by climate change.
“Bartley is committed to the use of proven technologies and has demonstrated its commitment to climate-smart investment,” company Chairman and CEO Mark Barchot said in a statement.
“With the recent announcement of the first investment by the Trump Administration in the Barnett Basin, we are pleased to be able to further enhance our environmental footprint and continue our focus on the needs of our customers and employees.”