US producer EQT commits to lowering Scope 1 and 2 emissions
EQT, the largest US natural gas producer, said June 29 it had set a goal of achieving deeper cuts in Scope 1 and Scope 2 greenhouse emissions on the production side by or before 2025.
CEO Toby Rice said the company has already made serious commitments to the energy transition by improving operational efficiency and lowering its environmental footprint. Just last week, it joined the UN-backed Climate and Clean Air Coalition's Oil & Gas Methane Partnership, which targets a reduction in methane emissions in line with the Paris climate accord.
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Through this, and other commitments, Rice said his company could “satiate both the domestic and international demand for clean energy."
Bolstering its stewardship, the company said it was targetting a 70% reduction in Scope 1 emissions and a 65% reduction in Scope 2 emissions, relative to 2018, by no later than 2025.
It has already committed to having the majority of its production in the Marcellus shale basin, situated within the broader Appalachia reserve, as responsibly-sourced gas (RSG) by the end of this year.
EQT sees natural gas as having a durable presence in the energy sector, but acknowledged it needed to promote and invest in sustainable business practices.
“Natural gas is the proven abundant, reliable, affordable, and environmentally-responsible energy source,” Rice said. “EQT is uniquely positioned as the largest pure-play natural gas producer to build upon its already industry-leading performance and demonstrate the true benefits of natural gas.”