Green River Basin-based PureWest Energy LLC will partner with Project Canary to create Certified Environmental Tokens, helping end users or third parties achieve their net-zero targets, according to a company press release on Nov. 15.
Through the partnership, the companies will gather low-methane emissions data attributes and other environmental attributes from PureWest's natural gas operations and turn them into digital tokens stored on the blockchain for consumers to purchase, the release stated.
With the tokens, end users will receive detailed insight into PureWest's gas production and allow them to calculate their own Scope 3 emissions. In turn, PureWest will be able to expand its certified gas product to buyers and increase product trust and loyalty.
Project Canary will provide total site-level emissions data and independently verifiable environmental attributes on a well-by-well basis, employing its TrustWell environmental risk assessment scoring system.
Additionally, blockchain-based emissions accounting system Earn will integrate these attributes to form the comprehensive tokens and store them on a private blockchain for easy distribution, tracking and retirement.
"Earn's platform automates the digitization of our certified low-emissions data assets, underpins these assets with trust and transparency, and makes distribution and reporting incredibly efficient," PureWest senior vice president of ESG, land and regulatory Kelly Bott said in the release.
"Our Certified Environmental Token and Emissions Accounting System brings greater efficiency, transparency and data integrity to the rapidly expanding certified gas market," Earn CEO Aaron Lohmann added. "We're excited to partner with PureWest to use the power of blockchain technology to improve the transferability of Project Canary environmental attribute data."
PureWest will issue a request for proposal (RFP) within the coming weeks for those interested in purchasing the tokens or volumes of certified gas.
2022-09-12 - A Coast Guard spokesperson identified the natural gas pipeline involved as the TOCA LINE, operated by Third Coast High Point Gas Transmission LLC.