PITTSBURGH, June 23, 2021 /PRNewswire/ -- EQT
Corporation (NYSE: EQT) today announced that it has enhanced its
commitment and leadership in reducing methane emissions by joining
the Oil & Gas Methane Partnership 2.0 Initiative.
"Reducing methane emissions is a foundational component of our
mission to be the operator of choice for all of our stakeholders, a
responsibility we embrace as the country's largest producer of
natural gas," said Toby Z. Rice,
President and CEO of EQT. "Natural gas is capable of playing
a key role in accelerating a sustainable path to a low carbon
future, both domestically and abroad. To position natural gas
as a decarbonizing commodity of choice, however, it is incumbent on
industry participants to embrace a modernized approach that deploys
best available technology for emissions measurement and
management."
Rice continued, "By participating with global leaders in the Oil
and Gas Methane Partnership, we are committing to fostering a
methane detection monitoring and reporting regime that moves beyond
desktop emissions estimates to one that harnesses the latest
monitoring technologies. Transparently demonstrating
differentiated emissions impact and reduction is a core financial
priority for our company to de-risk long-term demand, increase
access to domestic and global markets, and attract premium sales
opportunities. To achieve this level of transparency, we must
build stakeholder confidence through more accurate emissions data
from real world emissions surveys."
"Tackling methane represents an opportunity for the United States to develop increased global
climate, geopolitical and economic influence, leveraging the
technological skills and leadership of our industry to capture
greater global LNG market share."
"Later this month, we will be announcing our net zero and other
emissions reduction targets and detailing the steps we will take
along the way. We believe these targets will be
industry-leading, the achievement of which will represent a
significant milestone in the continuing evolution of our
company."
OGMP 2.0 Initiative
The second phase of the Climate and Clean Air Coalition's Oil
& Gas Methane Partnership (OGMP 2.0) of the United Nations
Environment Programme aims to drive deep reductions in methane
emissions over the next decade. OGMP 2.0 brings together
industry participants representing over 30% of oil and gas
production globally, NGOs and government representatives with the
goal of enhancing robust methane emissions monitoring and credible
reporting. Among other things, the OGMP 2.0 framework calls
for specific methane emissions reduction targets in line with the
Paris Agreement goals that are underpinned by programs leveraging
source-level and site-level monitoring. For more information,
please visit http://ogmpartnership.com or contact
sohie.loran@un.org.
EQT Contact:
Andrew
Breese
Director, Investor Relations
412.395.2555
ABreese@eqt.com
About EQT
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 to 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.
Cautionary Statements
This news release contains
certain forward-looking statements within the meaning of Section
21E of the Securities Exchange Act of 1934, as amended, and Section
27A of the Securities Act of 1933, as amended. Statements that do
not relate strictly to historical or current facts are
forward-looking. Without limiting the generality of the foregoing,
forward-looking statements contained in this news release
specifically include the expectations of plans, strategies and
objectives of EQT Corporation and its subsidiaries (collectively,
the Company), including the Company's ESG and emissions reduction
strategy and the intended benefits and results from the Company's
participation in the OGMP 2.0 Initiative. These forward-looking
statements involve risks and uncertainties that could cause actual
results to differ materially from projected results. Accordingly,
investors should not place undue reliance on forward-looking
statements as a prediction of actual results. The Company has based
these forward-looking statements on current expectations and
assumptions about future events, taking into account all
information currently available to the Company. While the Company
considers these expectations and assumptions to be reasonable, they
are inherently subject to significant business, economic,
competitive, regulatory and other risks and uncertainties, many of
which are difficult to predict and beyond the Company's control.
These risks and uncertainties include, but are not limited to,
volatility of commodity prices; the costs and results of drilling
and operations; access to and cost of capital; uncertainties about
estimates of reserves, identification of drilling locations and the
ability to add proved reserves in the future; the assumptions
underlying production forecasts; the quality of technical data; the
Company's ability to appropriately allocate capital and resources
among its strategic opportunities; inherent hazards and risks
normally incidental to drilling for, producing, transporting and
storing natural gas, NGLs and oil; cyber security risks;
availability and cost of drilling rigs, completion services,
equipment, supplies, personnel, oilfield services and water
required to execute the Company's exploration and development
plans; the ability to obtain environmental and other permits and
the timing thereof; government regulation or action; environmental
and weather risks, including the possible impacts of climate
change; uncertainties related to the severity, magnitude and
duration of the COVID-19 pandemic; and disruptions to the Company's
business due to acquisitions and other significant transactions.
These and other risks are described under Item 1A, "Risk Factors,"
and elsewhere in the Company's Annual Report on Form 10-K for the
year ended December 31, 2020 and
other documents the Company files from time to time with the
Securities and Exchange Commission. In addition, the Company may be
subject to currently unforeseen risks that may have a materially
adverse impact on it. Any forward-looking statement speaks only as
of the date on which such statement is made, and the Company does
not intend to correct or update any forward-looking statement,
whether as a result of new information, future events or otherwise,
except as required by law.
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SOURCE EQT Corporation