Shale production of Chesapeake Energy to be certified by ESG criteria

shale Chesapeake

Shale production of Chesapeake Energy will search for an independent certification after a collaboration with MiQ and Equitable Origin. The company announced this Wednesday the collaboration with the two standards.

Firstly, Chesapeake will collaborate initially with MiQ and Equitable Origin to certify its production across its Gulf Coast asset before expanding into its Appalachia asset. After it, Chesapeake will be the first company to certify its production across two major shale basins.

Secondly, the collaboration intends to solidify Chesapeake’s commitment to environmental stewardship and sustainable production across its gas basins.

Thirdly, Chesapeake has pledged to reduce methane intensity to 0.09% by 2025; consequently, the MiQ Certification will provide a verified approach to tracking this commitment. It will also support the company in its overall objective of achieving net-zero direct GHG emissions by 2035.

Moreover, about such commitments, Mike Wichterich interim CEO of the company, said. “Leading a responsible energy future is core to Chesapeake’s values; this partnership marks another important step as we advance our focus on differentially lowering our methane and GHG intensity; in pursuit of achieving our pledge to reach net-zero direct emissions.”

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Shale production of Chesapeake to be certified in 2021 and 2022

He also remarked. “Our company’s multi-basin portfolio and the technical expertise of our talented employees provide the company a unique operating platform to play a leadership role in delivering responsibly sourced natural gas to users around the world.”

In addition, the collaboration with MiQ is relevant, as MiQ is pioneering a market-based approach to rapidly reduce methane emissions across the natural gas sector. It has, in fact, a quantitative certification standard for methane detection.

On the other hand, Georges Tijbosch, Senior Adviser at MiQ, said. “We are delighted to be working with Chesapeake on this important project. Diligently monitoring and also abating methane; which has 84x the global warming potential of CO2, is critical if we are to reach our climate objectives.”

Finally, Soledad Mills, CEO, Equitable Origin, commented. “We look forward to working with them and MiQ to help them bring that commitment to life; also, through independent certification.” The company expects to have both its production certified by the end of 2021 for the Gulf Coast basin; and the second quarter of 2022 for its Appalachia basin.

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