Recognized for Leading Methane Reductions Program and Setting Ambitious Emissions Reduction Targets
PITTSBURGH, Nov. 1, 2022 /PRNewswire/ — EQT Corporation (NYSE: EQT) today announced that the Oil & Gas Methane Partnership 2.0 (OGMP 2.0) awarded the Company a “Gold Standard” rating, the highest reporting level under the initiative, in recognition of EQT’s ambitious methane emissions reduction targets and advanced commitment to accurately measuring, reporting and reducing its company-specific and site level methane emissions.
OGMP 2.0 is a multi-stakeholder initiative launched by the United Nations Environment Programme and the Climate and Clean Air Coalition in partnership with the European Commission, the U.K. and Norwegian governments, the Environmental Defense Fund and nearly 80 leading oil and gas companies. The initiative brings together these parties with the goal of enhancing robust methane emissions monitoring and credible reporting to achieve deep reductions in methane emissions over the next decade.
OGMP 2.0 member companies report on methane emissions along five levels of reporting, increasing in granularity by quantification methodology, level and sources of geography and uncertainty in quantification. To attain the OGMP Gold Standard rating, “bottom-up” source-level (Level 4) reporting must be reconciled with “top-down” site level emissions measurements (Level 5).
EQT is among 14 upstream companies globally qualifying as Gold Standard for 2022.
“Our achieving the Gold Standard rating under the OGMP 2.0 further validates EQT’s commitment to operating at the highest standards when it comes to methane monitoring and reduction. And among this elite group of world-leading companies, EQT has the second lowest 2025 target methane intensity goal,” said Toby Z. Rice, President and Chief Executive Officer of EQT Corporation. “Taken together, these results further strengthen our argument that, in a world where we are facing an under supply of natural gas and an increasing reliance on coal, it is incumbent on the United States to develop the infrastructure necessary to meet global demand for clean, affordable and reliable natural gas.”
EQT joined OGMP 2.0 in June 2021, committing to increasing its methane detection, monitoring and reporting.
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EQT Corporation is a leading independent natural gas production company with operations focused in the cores of the Marcellus and Utica Shales in the Appalachian Basin. We are dedicated to responsibly developing our world-class asset base and being the operator of choice for our stakeholders. By leveraging a culture that prioritizes operational efficiency, technology, and sustainability, we seek to continuously improve the way we produce environmentally responsible, reliable, and low-cost energy. We have a longstanding commitment to the safety of our employees, contractors, and communities, and the reduction of our overall environmental footprint. Our values are evident in the way we operate and in how we interact each day – trust, teamwork, heart, and evolution are at the center of all we do. To learn more, visit eqt.com.
SOURCE EQT Corporation