EQT Corp. and Diversified Energy Co. both earned a 'gold standard' distinction from the Oil & Gas Methane Partnership 2.0 (OGMP 2.0), the companies announced in separate press releases on Nov. 1.
OGMP 2.0 is a voluntary, measurement-based reporting framework sponsored by the UN Environment Project, Environmental Defense Fund and the Climate and Clean Air Coalition. With the goal of accurately and transparently reporting oil and gas methane emissions, the Gold Standard Pathway is the highest of five standards available through the organization.
EQT committed to increasing methane detection, monitoring and reporting as it joined the OGMP 2.0 in June 2021. Similarly, Diversified joined in May 2022 with a three-year timeframe to achieve Gold Standard Compliance.
"[A]mong this elite group of world-leading companies, EQT has the second lowest 2025 target methane intensity goal," EQT president and CEO Toby Rice said in his company's press statement.
"Taken together, these results further strengthen our argument that, in a world where we are facing an under supply of natural gas and an increasing reliance on coal, it is incumbent on the United States to develop the infrastructure necessary to meet global demand for clean, affordable and reliable natural gas," Diversified CEO Rusty Hutson, Jr., added.
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