FirstEnergy Sells Property for Shale Activity
Houston-based Plains Marketing LP purchased 40-plus acres situated on the outskirts of Toronto, Ohio from FirstEnergy for its shale-related business activity. According to the papers filed in the Jefferson County recorder’s office on December 28, 2012, Plains Marketing LP paid $2.5 million for the property. Sources close to the transaction have indicated that Plains Marketing LP intends to transport wet gases from Utica shale wells to the site, where it will be stored and eventually shipped to refineries on the Gulf Coast.
Toronto Mayor John Geddis described the site, which has been vacant since 1986, as “prime property,” with barge docking facilities and the potential for a rail spur. Mayor Geddis further indicated that the project would likely bring jobs to the area in the near future.