MPLX LP Expands 2030 Target to Reduce Methane Emissions

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MPLX LP (NYSE: MPLX) has announced a new target to reduce methane emissions intensity by 75% below 2016 levels by 2030, expanding its existing 2025 goal of 50% reduction. The company has achieved approximately 45% of this target through its Focus on Methane program, which aims to mitigate methane emissions across its natural gas operations. MPLX's Chairman, Michael J. Hennigan, emphasized the company’s commitment to sustainable energy and improving its carbon profile as the energy sector evolves.

Positive

• New target to reduce methane emissions intensity by 75% by 2030 strengthens sustainability commitment.
• Achieved ~45% reduction in methane emissions intensity toward 2025 goal, showcasing effective emissions management.

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• None.

FINDLAY, Ohio, Feb. 14, 2022 /PRNewswire/ -- MPLX LP (NYSE: MPLX) has established a new 2030 target to reduce methane emissions intensity by 75% below 2016 levels. The reduction target applies to MPLX's natural gas gathering and processing operations and represents an expansion of the company's existing 2025 target to reduce methane emissions intensity by 50% below 2016 levels.

MPLX has achieved an approximate 45% reduction in its methane emissions intensity toward its 2025 goal through its Focus on Methane program, a holistic approach to voluntarily reduce methane emissions intensity across MPLX's natural gas gathering and processing operations.

"Expanding on our methane target further reduces the carbon profile of our natural gas business and demonstrates our commitment to lead in sustainable energy," said MPLX Chairman, President and Chief Executive Officer Michael J. Hennigan. "As the energy industry evolves, we are positioning ourselves to continue delivering positive results in an energy-diverse future."

About MPLX LP 

MPLX is a diversified, large-cap master limited partnership that owns and operates midstream energy infrastructure and logistics assets and provides fuels distribution services. MPLX's assets include a network of crude oil and refined product pipelines; an inland marine business; light-product terminals; storage caverns; refinery tanks, docks, loading racks, and associated piping; and crude and light-product marine terminals. The company also owns crude oil and natural gas gathering systems and pipelines as well as natural gas and NGL processing and fractionation facilities in key U.S. supply basins. More information is available at www.mplx.com.

Investor Relations Contacts: (419) 421-2071
Kristina Kazarian, Vice President
Jamie Madere, Manager
Isaac Feeney, Analyst

Media Contact: (419) 421-3312
Jamal Kheiry, Communications Manager

Forward-Looking Statements

This press release contains forward-looking statements regarding MPLX LP (MPLX). These forward-looking statements may relate to, among other things, MPLX's expectations, estimates and projections concerning its business and operations, financial priorities, strategic plans and initiatives, and environmen­tal, social and governance goals. You can identify forward-looking statements by words such as "anticipate," "believe," "commitment," "could," "design," "estimate," "expect," "forecast," "goal," "guidance," "imply," "intend," "may," "objective," "opportunity," "outlook," "plan," "policy," "position," "potential," "predict," "priority," "proj­ect," "proposition," "prospective," "pursue," "scenario," "seek," "should," "strategy," "target," "will," "would" or other similar expressions that convey the uncertainty of future events or outcomes. MPLX cautions that these statements are based on management's current knowledge and expectations and are subject to certain risks and uncertainties, many of which are outside of the control of MPLX, that could cause actual results and events to differ materially from the statements made herein. Factors that could cause MPLX's actual results to differ materially from those implied in the forward-looking statements include but are not limited to: general econom­ic, political or regulatory developments, including inflation, changes in governmental policies relating to refined petroleum products, crude oil, natural gas or NGLs, or taxation; other political and regulatory developments, including those impacting renewable fuels and GHG emissions; the receipt of relevant third party and/or regulatory approvals; our ability to successfully implement our sustainable energy strategy and principles, including our GHG intensity and emissions, methane intensity and freshwater withdrawal intensity targets, and realize the expected benefits thereof; the effect of any  future growth opportunities, acquisitions, divestitures or restructurings; compliance with federal and state environmental, economic, health and safety, energy and other policies and regulations, including the costs thereof; and the factors set forth under the headings "Disclosures Regarding Forward-Looking Statements" and "Risk Factors" in MPLX's Annual Report on Form 10-K for the year ended Dec. 31, 2020, and in other filings with the SEC. Any forward-looking statement speaks only as of the date of the applicable communication and we undertake no obligation to update any forward-looking statement except to the extent required by applicable law.

Copies of MPLX's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other SEC filings are available on the SEC's website, MPLX's website at http://ir.mplx.com or by contacting MPLX's Investor Relations office.

 

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SOURCE MPLX LP

FAQ

What is MPLX's new target for methane emissions by 2030?

MPLX aims to reduce methane emissions intensity by 75% below 2016 levels by 2030.

How much has MPLX reduced methane emissions by so far?

MPLX has achieved approximately a 45% reduction in methane emissions intensity toward its 2025 goal.

What was MPLX's previous target for methane emissions reduction?

MPLX's previous target was to reduce methane emissions intensity by 50% below 2016 levels by 2025.

Who is the CEO of MPLX?

The CEO of MPLX is Michael J. Hennigan.