EQT Corp., the US largest natural gas producer, today announced it is trying to ensure most of its Appalachian Basin supply is responsibly sourced and marketed. Accordingly, the company will set a pilot program this month to certify around 4 Bcf/d gross from 200-plus well pads in Pennsylvania’s Greene and Washington counties.
Read more of our news content, here: Golden Gate Capital launches Stonehill Environmental Partners and acquires Waterfield Midstream assets
EQT Corp on leading US clean natural gas supply
This Thursday, EQT Corp. announced it aims to ensure most of its Appalachian Basin supply has responsible source and market. Thus, the company will set a pilot program this month to certify around 4 Bcf/d gross from 200-plus well pads in Pennsylvania’s Greene and Washington counties.
Moreover, the certification would include environmental, social, and governance (ESG) initiatives. Also, with methane emissions quantification.
Besides, Equitable Origin (EO) and MiQ will provide different standards to advance “responsibly” sourced gas production.
“We received a tremendous amount of market interest following our announcement in January; that we would be seeking certification of a portion of our natural gas production,” CEO Toby Rice said. Thus, “we commit to the highest standards of performance for our production operations. “
Moreover, “we believe that obtaining certification from Equitable Origin and MiQ will enable us to demonstrate further our commitment to producing our natural gas following high environmental and social standards. Furthermore, to differentiate our gas in the market.”
When the process with EO and MiQ reaches completion; EQT said its certified gas production would comprise 4.5% of total US gas produced.
“This means EQT will be producing more certified gas than any other US producer’s entire natural gas production (certified or uncertified).” Additionally, the certification commitment initially would be for one year.
In fact, EO has five principles to certify produced gas. Thus, it reviews corporate governance and ethics; also, social impacts, human rights, community engagement; Indigenous Peoples’ rights; occupational health and safety, fair labor standards; and finally, environmental impacts, biodiversity, and climate change.
“Markets for differentiated natural gas are beginning to reward those companies with superior ESG performance,” EO CEO Soledad Mills said. “EQT has a long-standing commitment to ESG. So, we are delighted to work with them on this exciting project.” Ms. Mills continued.
“Across the energy industry, from producers to consumers, there is a growing awareness of the climate change impact of methane emissions;” MiQ senior adviser Georges Tijbosch said. In fact, “methane has 84 times the global warming potential of CO2.” Therefore, “reducing this harmful greenhouse gas is one of the most important things we can do to reach our global climate goals in the next decade.”