Seneca Resources Achieves Top Emissions Performance Certification of its Natural Gas Production under the MiQ Standard
August 16 2022 - 4:10PM
Today, Seneca Resources Company, LLC (Seneca), the Exploration and
Production segment of National Fuel Gas Company (NYSE: NFG)
(National Fuel or the Company), announced that 100% of its natural
gas production, over 1 billion cubic feet of daily gross
production, has achieved an “A” certification grade under the MiQ
Standard for Methane Emissions Performance (MiQ Standard), the
highest available certification level.
The MiQ Standard is an independent framework for assessing
methane emissions and practices for oil and gas facilities, and is
a trusted and credible way to differentiate natural gas production
based on methane emissions. The standard scores production, using
an A – F letter grade, based on how well operators deploy
integrated technologies to detect, measure, and abate emissions
while also including a detailed assessment of policies and
workpractices that evaluate an operator’s preparedness to prevent
future methane emissions. As part of the certification process, a
team of accredited third-party auditors from Geosyntec conducted an
independent audit of Seneca’s natural gas operations, to assess its
alignment with the MiQ Standard.
“Through its achievement of an MiQ ‘A’ grade, Seneca can
credibly demonstrate to its customers and stakeholders the low
methane intensity of its production. This certification also shows
Seneca’s commitment to high standards of technology deployment and
operational management to prevent methane leaks. MiQ is now
certifying 17% of U.S. gas production, and we’re seeing significant
demand from buyers for low methane emissions natural gas,” said
Georges Tijbosch, CEO, MiQ.
“Seneca’s MiQ certification, in addition to its Equitable Origin
certification attained in December 2021, is a testament to the
strong emissions management we have deployed across all of our
natural gas operations,” said Justin Loweth, President of Seneca
Resources. “Seneca continues to evaluate and pilot methane
emissions monitoring technologies in order to continually improve
our detection and measurement practices and remain on the leading
edge of the industry’s sustainability initiatives.”
Seneca-produced gas certificates are currently available on the
MiQ Digital Registry, which is where MiQ and joint MiQ-EO100TM
Certificates are held throughout their full life cycle from
issuance through retirement. Certificates can be traded bundled
(combined with natural gas delivery) or unbundled.
About National Fuel Gas Company:National Fuel
is a diversified energy company headquartered in Western New York
that operates an integrated collection of natural gas assets across
four business segments: Exploration and Production, Pipeline and
Storage, Gathering, and Utility. Additional information about
National Fuel is available at www.nationalfuel.com.
About MiQ:MiQ is a not-for–profit Foundation
established by RMI (formerly the Rocky Mountain Institute), and
global sustainability consultancy SYSTEMIQ. MiQ is pioneering a
market-based approach to rapidly reduce methane emissions across
the global natural gas sector.
MiQ Certification will, for the first time, credibly
differentiate gas based on its methane emissions performance to
provide a market mechanism that incentivizes methane reduction.
MiQ’s vision is to create a market where certified natural gas can
be traded like other historical commodities ultimately creating
incentives to drive down methane emissions across the board.
Cautionary StatementsCertain statements
contained herein, including statements identified by the use of the
words “anticipates,” “expects,” “intends,” “plans,” “predicts,”
“projects,” “believes,” “will,” “may,” and similar expressions, and
statements other than statements of historical facts, are
“forward-looking statements” as defined by the Private Securities
Litigation Reform Act of 1995. Forward-looking statements involve
risks and uncertainties, which could cause actual results or
outcomes to differ materially from those expressed in the
forward-looking statements. While National Fuel’s expectations,
beliefs, and projections are expressed in good faith and are
believed to have a reasonable basis, actual results may differ
materially from those projected in forward-looking statements. In
addition to other factors, the following are important factors that
could cause actual results to differ materially from those
discussed in the forward-looking statements: (1) National Fuel’s
ability to estimate accurately the time and resources necessary to
implement new practices; (2) governmental/regulatory actions and/or
market pressures to reduce or eliminate reliance on natural gas;
and (3) the other risks and uncertainties described in (i) National
Fuel’s most recent Annual Report on Form 10-K at Item 7, MD&A,
and Quarterly Reports on Form 10-Q at Item 2, MD&A, under the
heading “Safe Harbor for Forward-Looking Statements,” and (ii) the
“Risk Factors” included in National Fuel’s most recent Annual
Report on Form 10-K at Item 1A. National Fuel disclaims any
obligation to update any forward-looking statements to reflect
events or circumstances after the date hereof. Because of these
risks and uncertainties, readers should not place undue reliance on
these forward-looking statements or use them for anything other
than their intended purpose.
Analyst Contact: Brandon Haspett | 716-857-7697
Media Contact: Rob Boulware | 412-548-2572
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