Chesapeake Energy Corporation announced a new collaboration with MiQ and Equitable Origin to begin independent certification of its natural gas production under the MiQ methane standard and the EO100TM Standard for Responsible Energy Development, which covers a broad range of environmental, social and governance (ESG) criteria.
Chesapeake will work with MiQ and Equitable Origin to initially certify production across its Gulf Coast asset before expanding into its Appalachia asset, making Chesapeake the first company to certify production across two major shale basins. This new project demonstrates Chesapeake's commitment to environmental stewardship and sustainable production across its gas basins. Chesapeake has pledged to reduce methane intensity to 0.09% by 2025, and MiQ Certification will provide a verified approach to tracking this commitment, as well as support Chesapeake in its overall objective of achieving net-zero direct greenhouse gas emissions by 2035.
Mike Wichterich, Chesapeake's board chairman and interim CEO, commented, "Leading a responsible energy future is core to Chesapeake's values, and 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. Chesapeake'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."
MiQ, a non-profit partnership between RMI and SYSTEMIQ, is pioneering a market-based approach to rapidly reduce methane emissions across the natural gas sector. Its quantitative certification standard – the MiQ Standard – factors in methane intensity, company practices, and methane detection. MiQ certified natural gas embodies a commitment to transparency, accountability, technology independence, and granularity.
Georges Tijbosch, senior adviser, MiQ, said: "We are delighted to be working with Chesapeake on this important project. Diligently monitoring and abating methane – which has 84x the global warming potential of CO21 – is critical if we are to reach our climate objectives. It is great to see the continued growth of certified natural gas in the US natural gas market, and we are delighted to once again be working with Equitable Origin to provide Chesapeake third-party audited, independently verified certification for its natural gas."
