OKLAHOMA CITY, July 14, 2021 / PRNewswire / – Chesapeake Energy Corporation (NASDAQ: CHK) today announced a new collaboration with MiQ and Equitable Origin to begin independent certification of its natural gas production under the MiQ on methane and the EO100TM standard for responsible energy development, which covers a wide range of environmental, social and governance (ESG) criteria.
Chesapeake will work with MiQ and Equitable Origin to initially certify production on its Gulf Coast asset before expanding into its Appalachian asset, making Chesapeake the first company to certify production in two large shale basins. This new project demonstrates Chesapeake’s commitment to environmental stewardship and sustainable production in its gas basins. Chesapeake has committed to reducing methane intensity to 0.09% by 2025, and MiQ certification will provide a verified approach to follow through on this commitment, and will support Chesapeake in its overall goal of achieving zero direct gas emissions. greenhouse effect by 2035.
Mike Wichterich, Chairman of the Board and Interim CEO of Chesapeake, said, “Leading a responsible energy future is at the heart of Chesapeake’s values, and this partnership marks another important milestone as we focus on the differential reduction of our methane and GHG intensity in pursuit of our commitment to achieve zero net direct emissions. Chesapeake’s multi-basin portfolio and the technical expertise of our talented employees provide the company with a unique operating platform to play a leading role in delivering responsibly sourced natural gas to users around the world. .
MiQ, a non-profit partnership between RMI and SYSTEMIQ, is pioneering a market-based approach to rapidly reducing methane emissions in the natural gas sector. Its quantitative certification standard – the MiQ standard – takes into account methane intensity, company practices and methane detection. MiQ Certified Natural Gas embodies a commitment to transparency, accountability, technological independence and granularity.
Georges Tijbosch, Senior Advisor, MiQ, said: “We are delighted to be working with Chesapeake on this important project. Diligently monitoring and reducing methane – which has 84 times the global warming potential of CO21 – is essential if we are to meet our climate goals It’s great to see the continued growth of certified natural gas in the U.S. natural gas market, and we are delighted to be working again with Equitable Origin to provide Chesapeake with third party audited and independently verified certification for its natural gas.
Fair origin has a proven track record in certifying energy production on ESG indicators in accordance with its EO100 ™ standard for responsible energy development, a set of rigorous ESG performance objectives for energy development projects. Equitable Origin Chartered Appraisers will assess the natural gas produced by Chesapeake against the five principles of the EO100 ™ standard, including corporate governance and ethics; social impacts, human rights and community engagement; the rights of indigenous peoples; occupational health and safety and fair labor standards; and environmental impacts, biodiversity and climate change.
Soledad Mills, CEO of Equitable Origin, said: “We are delighted to be working with MiQ and Chesapeake on this new project. Chesapeake is committed to protecting the country’s natural resources and reducing its environmental footprint. We look forward to working with them and MiQ. to help them realize this commitment through independent certification. “
Chesapeake predicts that certified natural gas will be available by the end of 2021 in the Gulf Coast Basin and the second quarter of 2022 in the Appalachian Basin.
About Chesapeake Energy Corporation:
Based in Oklahoma City, the operations of Chesapeake Energy Corporation (NASDAQ: CHK) focus on the discovery and responsible development of its large and geographically diverse resource base of unconventional oil and natural gas assets onshore in the United States. United.
MiQ has developed a universally applicable certification standard to credibly assess the performance of methane from natural gas production around the world. The standard is independent, third-party audited, quantitative, and rated on a sliding AF scale based on three metrics: methane intensity, company practices, and deployment of methane detection technology. MiQ’s certification program is designed to improve transparency regarding methane emissions and provide the basis for a level playing field in the global natural gas market.
An MiQ certificate represents the methane emissions performance attributes of a specified portion of natural gas. To avoid double counting, MiQ keeps a register of all MiQ certificates, from issue to retirement. Visit miq.org/certification for more information.
About fair origin:
Equitable Origin is a non-profit organization that created the first market-based mechanism to recognize and reward responsible energy producers and to empower energy buyers through independent site-level certification. The EO100 ™ standard for responsible energy development is based on a set of comprehensive and globally applicable ESG indicators, developed with the contribution of many stakeholders. Certification according to the EO100 ™ standard promotes best practices and improves ESG performance while enabling a market for differentiated energy production. To find out more visit energystandards.org.
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SOURCE Chesapeake Energy Corporation
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