Provides low-emission fuel solution for the
northeastern United States
Tennessee Gas Pipeline (TGP), a subsidiary of Kinder Morgan,
Inc. (NYSE: KMI), and Southwestern Energy Company (NYSE: SWN) today
announced the initiation of a responsibly sourced natural gas (RSG)
strategic agreement. The goal of the agreement is to further reduce
methane emissions across the natural gas value chain by receiving
and transporting RSG to market and, in this case, specifically to a
market in the Northeast. RSG is natural gas that has been produced
from a natural gas well and transported by companies whose
operations have been independently verified as meeting certain
environmental, social and governance (ESG) standards, particularly
related to methane emission reductions.
RSG goes through a rigorous verification process to certify that
it meets or exceeds the standards established by the ONE Future
coalition, which are designed to achieve a 1% or lower methane
intensity level, or 99% methane efficiency, by 2025. With this
agreement, Project Canary will apply its TrustWellTM certification
process and continuous emissions monitoring devices to SWN
production sites in the Appalachian Basin, ensuring a methane
intensity rate of 0.28% or lower, per ONE Future upstream targets
(production, compression and gathering). SWN achieved an intensity
rate of 0.055% in 2019, according to its annual Corporate
Responsibility report, and is pursuing further emission reductions
through various initiatives. The KMI transportation network,
including TGP, has significantly beat its 0.31% ONE Future
transmission target with a rate of only 0.03% in 2019, as published
in the company’s latest ESG report. These combined industry
segments substantially outperform the estimated average intensity
rate of up to 1.41% for conventional natural gas emissions across
the industry value chain, according to EPA data provided by a 2018
peer-reviewed article in Science Magazine. Additional criteria
evaluated by Project Canary’s Trustwell certification include
impacts to air, land, water and the community as well as the
mechanical integrity of well design and practices.
As part of the agreement, SWN will produce and TGP will
transport the RSG on its existing pipeline infrastructure to
benefit a large market in the Northeast where the distribution of
the RSG is expected to power the equivalent of approximately
100,000 homes annually while reducing GHG emissions equal to the
removal of approximately 5,000 internal combustion engine vehicles
from the road. The market will begin experiencing the benefits of
RSG November 1, 2021. TGP and SWN are both founding members of the
ONE Future Coalition, working together to reduce methane emissions
and to ensure the future of natural gas as a long-term sustainable
fuel.
“We are pleased to be part of this agreement focused on
providing this lower-carbon fuel to the Northeastern United
States,” said KMI’s President of Natural Gas Pipelines Tom Martin.
“This is one of several RSG initiatives currently underway at
Kinder Morgan and aligns with our commitment to minimize methane
emissions associated with the production, transportation, storage
and distribution of natural gas.”
“Southwestern believes responsibly sourced gas is foundational
to a low carbon future. This innovative agreement with Kinder
Morgan to deliver responsibly sourced energy to customers in the
Northeast is evidence of our commitment to help bring about that
future. We have been first movers in the RSG market, announcing
earlier this year the certification and continuous monitoring of
our entire existing and future Appalachia portfolio. This strategic
agreement builds on that initiative and continues our efforts to
provide cleaner energy to customers across the United States and
beyond,” said Southwestern Energy President and Chief Executive
Officer Bill Way.
About Kinder Morgan,
Inc.
Kinder Morgan, Inc. (NYSE: KMI) is one of the largest energy
infrastructure companies in North America. Access to reliable,
affordable energy is a critical component for improving lives
around the world. We are committed to providing energy
transportation and storage services in a safe, efficient, and
environmentally responsible manner for the benefit of people,
communities and businesses we serve. We own an interest in or
operate approximately 83,000 miles of pipelines and 144 terminals.
Our pipelines transport natural gas, renewable fuels, refined
petroleum products, crude oil, condensate, CO2 and other products,
and our terminals store and handle various commodities including
gasoline, diesel fuel, chemicals, ethanol, metals and petroleum
coke. Learn more about our renewables initiatives on the low carbon
solutions page at www.kindermorgan.com.
Important Information Relating to
Forward-Looking Statements
This news release includes forward-looking statements within the
meaning of the U.S. Private Securities Litigation Reform Act of
1995 and Section 21E of the Securities and Exchange Act of 1934.
Generally the words “expects,” “believes,” anticipates,” “plans,”
“will,” “shall,” “estimates,” and similar expressions identify
forward-looking statements, which are not historical in nature.
Forward-looking statements in this news release include express or
implied statements concerning the anticipated timing and benefits
of the RSG program. Forward-looking statements are subject to risks
and uncertainties and are based on the beliefs and assumptions of
management, based on information currently available to them.
Although KMI believes that these forward-looking statements are
based on reasonable assumptions, it can give no assurance as to
when or if any such forward-looking statements will materialize or
their ultimate impact on KMI’s operations or financial condition.
Important factors that could cause actual results to differ
materially from those expressed in or implied by these
forward-looking statements include the risks and uncertainties
described in KMI’s reports filed with the Securities and Exchange
Commission (SEC), including its Annual Report on Form 10-K for the
year-ended December 31, 2020 (under the headings “Risk Factors” and
“Information Regarding Forward-Looking Statements” and elsewhere)
and its subsequent reports, which are available through the SEC’s
EDGAR system at www.sec.gov and on KMI’s website at
ir.kindermorgan.com.
About Southwestern
Energy
Southwestern Energy Company (NYSE: SWN) is a leading U.S.
producer of natural gas and natural gas liquids focused on
responsibly developing large-scale energy assets in the nation’s
most prolific shale gas basins. SWN’s returns-driven strategy
strives to create sustainable value for its stakeholders by
leveraging its scale, financial strength and operational execution.
For additional information, please visit www.swn.com and
www.swn.com/responsibility.
About Project Canary
Project Canary is an independent certification organization that
measures, tracks, and delivers trusted ESG data across the energy
value chain. They are the leaders in the rating and certification
of responsible energy operating practices and provide science and
technology-backed emission profiles via continuous monitoring
hardware synced with a real-time dashboard. Project Canary Upstream
(TrustWell) Certifications, Midstream Certifications, and Canary
Continuous Monitoring help identify the most responsible energy
supply chain operators. Formed as a Public Benefit Corporation,
Project Canary’s team of scientists, engineers, and seasoned
industry operators have earned recognition for their uncompromising
standards, including being named “Best for the World 2021” B
Corp.
To learn more, visit projectcanary.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20210921006016/en/
KINDER MORGAN CONTACTS
Katherine Hill Senior Corporate Communications Specialist (713)
469-9176 newsroom@kindermorgan.com
Investor Relations (800) 348-7320 km_ir@kindermorgan.com
www.kindermorgan.com
SOUTHWESTERN ENERGY COMPANY
CONTACTS Brittany Raiford Director, Investor Relations
(832) 796-7906 brittany_raiford@swn.com
Media Relations media@swn.com
PROJECT CANARY COMPANY
CONTACTS Brian Miller Vice President, Growth and Policy
(202) 669-3801 Brian.miller@projectcanary.com
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