Natural gas technology and derivative products
first step as part of transformational fuel strategy to help reduce
carbon footprint, diversify fuel markets, and provide a path to
net-zero emissions
PITTSBURGH, May 24, 2022
/PRNewswire/ -- Call it a transformational fuel strategy for the
transportation industry to lower costs, reduce emissions, and
create jobs – with Pittsburgh
leading the way.
Pittsburgh International
Airport (PIT) officials announced a new phase of their ongoing
partnership with locally-based natural gas exploration, production,
midstream, and technology company CNX Resources Corporation (NYSE:
CNX) on Friday aimed at further reducing carbon emissions in the
transportation industry and related sectors – by using natural gas
produced at the airport and converted into alternative fuel with
CNX proprietary technology.
"We feel that natural gas and derivative products provide a path
for the transportation industry both to reduce carbon emissions in
the short-term while working toward a goal of net-zero in the
long-term as hydrogen and other potential solutions mature," said
Christina Cassotis, CEO,
Pittsburgh International Airport.
"This is Pittsburgh innovation at
work. We believe this strategy can have a global impact."
The agreement comes on the heels of an announcement earlier this
week from Pennsylvania Gov.
Tom Wolf about a statewide
initiative to secure a hydrogen hub and large-scale carbon storage
system in Pennsylvania, bringing
further partnership opportunities to PIT.
CNX has developed proprietary technology to cost-effectively
convert on-site dry natural gas into liquified natural gas (LNG),
compressed natural gas (CNG), and electricity for various uses
including as a hydrogen feedstock. These technologies will reduce
local emissions and further reduce operating costs at the
airport.
The strategy also envisions a sustainable fuel hub at PIT
utilizing locally sourced, lower-cost, lower-carbon intensity LNG
and CNG fueling depots for airlines, transit, cargo, fleet,
military, and other energy-intensive business purposes.
CNX President and CEO Nick
DeIuliis commented, "CNX views its innovative public-private
partnership with PIT as the beachhead market to showcase this
technology, and the associated economic development opportunities,
through on-site development of low-cost and lower-carbon intensity
natural gas derivative products." Mr. DeIuliis continued, "We will
produce, process, and consume these natural gas-based products
locally first, and, in doing so, unleash countless downstream
economic opportunities and help jumpstart the hydrogen economy,
leverage the region's unrivalled work ethic, create
family-sustaining jobs, better the region's underserved
communities, and revitalize Appalachia's middle class in a new,
lower carbon economic ecosystem."
As part of the agreement, CNX will develop the Utica shale on airport property representing
the first wells from this formation completed and brought into
production in Allegheny County.
The Utica shale yields a dry gas
which is more easily converted into LNG and CNG alternative fuels
and hydrogen.
The airport will work with CNX to identify local, end-use
opportunities that would benefit from using natural gas derivative
products to reduce emissions.
CNX began its natural gas development-related activities at the
airport in 2014, bringing its Marcellus shale wells into production
in 2016 with the airport sharing the resulting revenue. The airport
would similarly collect revenue from new drilling within the new
agreement.
Pittsburgh International
Airport is already leading the way in energy innovation. Last June,
the airport became the first in the world to be completely powered
with its own microgrid, fueled by natural gas and more than 10,000
solar panels. Officials are planning to double the size of the
solar field, which is built atop an old landfill.
Airport officials noted that the microgrid alone is forecast to
reduce emissions by about 8.2 million pounds of carbon dioxide per
year within the region.
About Allegheny County Airport Authority:
Allegheny County Airport Authority, which manages Pittsburgh International Airport (PIT) and
Allegheny County Airport (AGC), is committed to transforming
Pittsburgh's airports to reflect
and serve the community, inspire the industry, and advance the
region's role as a world leader. PIT was named by Fast Company
magazine as One of the Most Innovative Companies in the World as
well as a finalist in its World Changing Ideas awards, both in
2020. PIT's first-of-its-kind microgrid has won numerous awards for
resiliency and sustainability. For more information,
visit www.flypittsburgh.com.
About CNX Resources Corporation:
CNX Resources Corporation (NYSE: CNX) is unique. We are a
premier natural gas development, production, midstream, and
technology company centered in Appalachia, one of the most energy
abundant regions in the world. With the benefit of a 158-year
regional legacy, substantial asset base, leading core operational
competencies, technology development and innovation, and astute
capital allocation methodologies, we responsibly develop our
resources and deploy free cash flow to create long-term per share
value for our shareholders, employees, and the communities where we
operate. As of December 31, 2021, CNX
had 9.63 trillion cubic feet equivalent of proved natural gas
reserves. The company is a member of the Standard & Poor's
Midcap 400 Index. Additional information is available at
www.cnx.com.
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SOURCE CNX Resources Corporation; Pittsburgh International Airport