Chesapeake Energy Corporation has achieved recertification of its Marcellus Shale natural gas production operations by two third-party certifiers, the company said in a news release.
Chesapeake’s natural gas production in the Marcellus, which averaged approximately 4.4 billion cubic feet (Bcf) of crude natural gas per day in the first quarter of 2023, received an A grade below the MiQ methane emissions standard and an A- grade on Equitable Origin’s EO100 standard for responsible energy development, which focuses on environmental (ESG, social) performance and performance.
According to its website, MiQ is a global non-profit partnership between SYSTEMIQ and RMI launched in 2020 that certifies the methane emissions performance of natural gas at the platform or asset level, focused on imports into the European Union. The MiQ standard is graded through an AF sliding scale based on methane intensity, company practices and deployment of methane detection technology.
“Chesapeake’s Grade A recertification underscores its commitment to the continued reduction of emissions in its natural gas production,” said MiQ CEO Georges Tijbosch. “Methane can be addressed this decade, and MiQ certification is important to understanding the methane intensity of oil and gas production, providing operators like Chesapeake with credible data that drives market transparency.”
Equitable Origin, which aims to support the transparent, equitable and sustainable development of energy and natural resources, provides independent certification for energy companies. According to its website, Equitable Origin has certified about 12 percent, or 12 Bcf per day, of US gas production.
Chesapeake said it achieved its A- rating by scoring at least 95 percent on the five core principles of Equitable Origin, including corporate governance, transparency and ethics; human rights, social impacts and community investment; rights of indigenous peoples; fair labor and working conditions; and climate change, biodiversity and environmental impacts.
“The high rating achieved in this assessment reflects a demonstrated commitment to transparency and continuous improvement,” said Soledad Mills, CEO of Equitable Origin. “This example of responsible energy leadership is an important step towards a better and more sustainable future.”
“These achievements are a testament to our team and our commitment to delivering the affordable, reliable and low-carbon energy the world needs,” said Chesapeake President and CEO Nick Dell’Osso. “We take our role in responsible energy production very seriously and are extremely proud of our ability to minimize our environmental footprint in our operating areas and further reduce emissions.”
Chesapeake said it was the first producer to achieve MiQ and EO100 certification in two major basins by 2022. The company, which aims for net zero greenhouse gas emissions by 2035, expects to receive recertification for its Haynesville assets in December.
Comstock Resources, Ascent Resources and EQT Corp. are among other oil and gas companies that have received MiQ certifications, according to a report from S&P Global Commodity Insights, with at least 28 Bcfd of US gas production receiving the certification.
Third-party certifications have also started to be seen in supply contracts, the report said, citing recent contracts by Golden Pass LNG and Chesapeake Energy to provide 300 million cubic feet per day of MiQ-certified Grade A gas starting in 2024.
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