Local officials applaud KeyState to Zero financing announcement

LOCK HAVEN, PA – Local officials have welcomed Tuesday’s announcement that a worldwide climate funding agency has announced financial support for the massive energy project in planning for West Keating Township in Clinton County.

OGCI Climate Investments (Oil and Gas Climate Initiative) posted news it is investing in the KeyState natural gas synthesis facility proposed for a portion of the old Winner family tract of forested land.

The project was first announced by Perry Babb several years ago. At the time it carried an estimated price tag of just over $400 million. Babb told therecord-online on Tuesday the estimated cost is much more than that, but a new figure cannot be disclosed until current engineering work is completed.

He said the project is in “Phase II Engineering” for the rest of this calendar year; then “Phase III Final Engineering and Design” in 2023; followed by two years of construction.

“We would like to congratulate Perry Babb and Keystate in securing a funding partner for this interesting project,” said Mike Flanagan, President of the Clinton County Economic Partnership.” We would also like to thank OGCI Climate Investments for its funding participation. This could be the first ‘carbon capture’ facility in the Commonwealth.

“We would like to thank many people to this point, including Perry, Mary Winner, the owner of the land tract near Keating, as well State Rep. Stephanie Borowicz and State Sen. Chis Dush, who have been involved in this project for many months. There is still a long way to go but today’s announcement is great news.”

Rep. Borowicz both heralded and posted the funding announcement on her website. She said OGCI is “a group of all the super major and major oil and gas companies including Exon/Mobil, BP, Shell, Chevron, Occidental Petroleum, etc. They put the investment fund together and set up the investment company to support CO2 storage projects.”