Leading U.S. Natural Gas Companies Establish Appalachian Methane Initiative

January 11, 2023 08:00 AM Eastern Standard Time PITTSBURGH--(BUSINESS WIRE)--A group of leading U.S. natural gas operators today launched the Appalachian Methane Initiative (AMI), a coalition committed to further enhancing methane monitoring throughout the Appalachia Basin and facilitating additional methane emissions reductions in the region. Enhancing methane emissions monitoring in the natural gas sector will assist in positioning companies for continued GHG reductions and will further underscore the sustainability proposition of Appalachian natural gas in the global energy system.

The formation of AMI, whose founding members include Chesapeake Energy Corporation, EQT Corporation, and Equitrans Midstream Corporation, brings together two of the top five natural gas producers in the United States and one of the country's leading midstream service providers.

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AMI's efforts are intended to promote greater efficiency in the identification and remedy of potential fugitive methane emissions from operations in the Appalachian Basin through coordinated satellite and aerial surveys on a geographic-basis, as opposed to an operator-specific basis, and taking into account advanced methane monitoring and reporting frameworks.

The coalition will seek to coordinate and share best practices in mitigating methane emissions from natural gas operations, including production and midstream, and collaborate on activities and monitor results through transparent, publicly available reporting.

'As an industry, we have an important role to play in both meeting global energy needs and reducing climate change risks,' said Chesapeake's President and Chief Executive Officer Nick Dell'Osso. 'The AMI coalition offers an opportunity to better measure and understand our emissions profiles as we work to reduce the environmental impact of natural gas production and answer the call for affordable, reliable and lower carbon energy.'

'Appalachia is home to the United States' richest natural gas basins, which also boast some of the lowest methane emissions intensities in the world. This is an achievement that we have earned through years of environmental commitment, and AMI further builds on this commitment,' said Toby Z. Rice, President and Chief Executive Officer of EQT Corporation. 'Applying a basin-wide, sector-agnostic approach to methane monitoring will not only allow accountability for methane emissions from all emitters; we believe it will eliminate any doubt – whether from policy-makers, customers, or the general public – that Appalachian natural gas is the cleanest form of traditional energy in the world. At a time when international coal and associated GHG and methane have reached all-time highs, it is imperative that we recognize Appalachian natural gas for what it is, namely a means of meaningfully reducing global emissions.'

'Sustainability performance is about knowing we, as an industry, are collectively doing the right thing for future generations – serving Americans' current and increasing needs for reliable, clean-burning energy and supporting our national security and energy independence,' said Diana M. Charletta, Equitrans president and chief operating officer. 'As a founding member of AMI, we are excited by the potential to further enhance methane monitoring and measurement across the Appalachian Basin, with the goal of promoting additional emission reductions. Natural gas is and will continue to be an integral component of the global energy portfolio, and we must continue to responsibly develop, produce, and transport our domestic resources to effectively and efficiently transition to a lower carbon future.'

AMI is focused on developing and implementing a pilot monitoring program in 2023 to cover select areas of interest within the major operating footprints of the Appalachian Basin, with the goal of working to develop and implement a full-Basin monitoring plan in 2024.

About Chesapeake Energy Corporation

Headquartered in Oklahoma City, Chesapeake Energy Corporation is powered by dedicated and innovative employees who are focused on discovering and responsibly developing our leading positions in top U.S. oil and gas plays. With a goal to achieve net zero direct GHG emissions (Scope 1 and 2) by 2035, Chesapeake is committed to safely answering the call for affordable, reliable, lower carbon energy.

About EQT Corporation

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. Learn more at eqt.com.

About Equitrans Midstream Corporation

Equitrans Midstream Corporation (ETRN) has a premier asset footprint in the Appalachian Basin and, as the parent company of EQM Midstream Partners, is one of the largest natural gas gatherers in the United States. Through its strategically located assets in the Marcellus and Utica regions, ETRN has an operational focus on gas transmission and storage systems, gas gathering systems, and water services that support natural gas development and production across the Basin. With a rich 135-year history in the energy industry, ETRN was launched as a standalone company in 2018 with the vision to be the premier midstream services provider in North America. ETRN is helping to meet America's growing need for clean-burning energy, while also providing a rewarding workplace and enriching the communities where its employees live and work.

For more information on Equitrans Midstream Corporation, visit www.equitransmidstream.com; and to learn more about our environmental, social, and governance practices visit ETRN Sustainability Reporting.

Cautionary Statements

This news release contains certain forward-looking statements. 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 include expectations regarding the Appalachian Methane Initiative (AMI), including the potential initiatives thereof and timing and impacts of such initiatives. AMI has based these forward-looking statements on current expectations and assumptions about future events, taking into account all information currently known by AMI. While AMI 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 AMI's control.

Any forward-looking statement speaks only as of the date on which such statement is made, and except as required by law, AMI does not intend to correct or update any forward-looking statements, whether as a result of new information, future events, or otherwise.