Seneca Resources Announces Commitment to Seek Certification of its Appalachian Natural Gas Production under the Equitable Origin Standard
Seneca Resources Company, part of National Fuel Gas Company (NFG), is pursuing certification for its Appalachian natural gas production under Equitable Origin’s EO100™ Standard. Initiated in May, the certification process focuses on key ESG principles, including governance, community engagement, and environmental impact. Completion is anticipated early next year. President Justin Loweth highlighted that this certification reinforces Seneca's commitment to sustainability and positions its natural gas production favorably in the market amid rising ESG investor interest.
- Commitment to 100% certification under EO100™ Standard enhances brand image and market differentiation.
- Focus on ESG performance taps into growing investor interest in responsible energy practices.
- Potential delays in meeting certification standards could negatively impact timelines.
- Market pressures may lead to reduced reliance on natural gas, affecting future production.
WILLIAMSVILLE, N.Y., Sept. 07, 2021 (GLOBE NEWSWIRE) -- Today, Seneca Resources Company, LLC (Seneca), the Exploration and Production segment of National Fuel Gas Company (NYSE: NFG) (National Fuel or the Company), announced its commitment to seek certification of
The EO100™ Standard provides a framework to monitor on-the-ground operational performance, as well as operator-level ESG performance. As part of the ongoing certification process, an independent assessment body will complete an evaluation of Seneca’s natural gas production and operational practices against the five principles of the EO100™ Standard, including corporate governance and ethics, social impacts, human rights and community engagement, Indigenous Peoples' rights, occupational health and safety and fair labor standards, and environmental impacts, biodiversity, and climate change.
"We are excited to work with Equitable Origin on this responsible natural gas certification, which demonstrates Seneca's continued commitment to sustainability, and will allow us to differentiate our natural gas production in the market," said Justin Loweth, President of Seneca Resources. “The accelerated interest in ESG disclosures by the investment community and other stakeholders presents an opportunity for Seneca to continue to showcase the quality of our assets, our innovative processes, and our ongoing investments in environmental protection.”
About National Fuel Gas Company:
National Fuel is a diversified energy company headquartered in Western New York that operates an integrated collection of natural gas and oil assets across four business segments: Exploration and Production, Pipeline and Storage, Gathering, and Utility. Additional information about National Fuel is available at www.nationalfuel.com.
About Equitable Origin:
Equitable Origin is a non-profit organization that created the first market-based mechanism to recognize and reward responsible energy producers and to empower energy purchasers through independent, site-level certification. The EO100™ Standard for Responsible Energy Development is grounded in a set of comprehensive, globally applicable ESG performance targets developed with extensive stakeholder input. Certification against the EO100™ Standard promotes best practices and drives improvements in ESG performance while enabling a market for differentiated energy production. To learn more visit energystandards.org.
Cautionary Statements
Certain statements contained herein, including statements identified by the use of the words “anticipates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “believes,” “will,” “may,” and similar expressions, and statements other than statements of historical facts, are “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties, which could cause actual results or outcomes to differ materially from those expressed in the forward-looking statements. While National Fuel’s expectations, beliefs, and projections are expressed in good faith and are believed to have a reasonable basis, actual results may differ materially from those projected in forward-looking statements. In addition to other factors, the following are important factors that could cause actual results to differ materially from those discussed in the forward-looking statements: (1) National Fuel’s ability to estimate accurately the time and resources necessary to meet certification standards; (2) governmental/regulatory actions and/or market pressures to reduce or eliminate reliance on natural gas; and (3) the other risks and uncertainties described in (i) National Fuel’s most recent Annual Report on Form 10-K at Item 7, MD&A, and Quarterly Reports on Form 10-Q at Item 2, MD&A, under the heading “Safe Harbor for Forward-Looking Statements,” and (ii) the “Risk Factors” included in National Fuel’s most recent Annual Report on Form 10-K at Item 1A, as updated by National Fuel’s Forms 10-Q for subsequent quarters at Item 1A. National Fuel disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof. Because of these risks and uncertainties, readers should not place undue reliance on these forward-looking statements or use them for anything other than their intended purpose.
FAQ
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