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ExxonMobil to Certify Natural Gas, Help Customers Meet Environmental Goals
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Rhea-AI Summary
ExxonMobil has initiated the certification process for natural gas at its Poker Lake facility in New Mexico, becoming the company’s first site for such certification. This process will adhere to stringent criteria set by the independent validator MiQ, aimed at validating ExxonMobil's efforts to reduce methane emissions. The certified natural gas could be available to customers by Q4 2021, as ExxonMobil seeks to enhance its operational transparency and support its clients' emissions goals while promoting a lower-carbon future.
Positive
Certification of natural gas production at Poker Lake supports emissions reduction efforts.
Collaboration with MiQ provides credible third-party validation of methane emission reductions.
ExxonMobil aims for significant reductions in greenhouse gas and methane intensity by 2025.
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New Mexico facility in Permian Basin to be company’s first for natural gas certification
Certification to use rigorous, independent criteria established by third-party validator, MiQ
Certification to validate ongoing efforts to reduce methane emissions from upstream operations
IRVING, Texas--(BUSINESS WIRE)--
ExxonMobil said today it has signed an agreement with an independent validator, non-profit MiQ, to begin the certification process for natural gas produced at its Permian Basin facilities at Poker Lake, New Mexico. Certified natural gas validates emissions reduction efforts and helps customers meet their emissions goals.
ExxonMobil employees oversee a production facility in New Mexico, where the company plans to begin the certification process for natural gas produced in the Permian Basin. The process will use rigorous, independent criteria established by a third-party validator, MiQ. Certified natural gas validates emissions reduction efforts and helps customers meet their environmental goals. (Photo: Business Wire)
MiQ is a partnership between RMI, formerly the Rocky Mountain Institute, and SYSTEMIQ, a global sustainable development consultancy. It developed and maintains the “MiQ Standard,” a framework that assesses and grades methane intensity, enhanced monitoring technology deployment, and operating practices that promote a culture of emissions management and continuous improvement. A MiQ accredited independent auditor performs the assessment, and MiQ issues tradeable certificates based on the grade achieved.
“We are reducing methane emissions responsibly and economically, and by working with MiQ, we can provide our customers with credible third-party validation of those efforts,” said Bart Cahir, senior vice president of unconventional at ExxonMobil. “As we improve our operations, certifying our natural gas will help our customers achieve their goals and support a lower-carbon future.”
ExxonMobil has selected Poker Lake for certification because of the wide range of technology solutions already in place, scale advantages, proximity to nearby markets, and growth potential as production in New Mexico increases. The company has expanded use of aerial LiDAR™ imaging and SOOFIE methane detection technologies in the region and is evaluating additional next-generation applications, including satellites and artificial intelligence, as part of its ongoing initiatives to find smarter and faster ways to detect and mitigate emissions.
Approximately 200 million cubic feet of natural gas per day from Poker Lake will be assessed and certified. The certified natural gas could be available to customers by fourth quarter 2021. ExxonMobil is considering expanding certification to include other Permian Basin fields and shale production areas, including Appalachia and Haynesville.
“We’re pleased to be working with ExxonMobil at Poker Lake and look forward to a fruitful long-term partnership that creates a differentiated, more transparent and cleaner gas market,” said Georges Tijbosch, senior advisor at MiQ. “These steps and the rapid reduction of methane emissions is critical to the world achieving its climate goals.”
ExxonMobil exceeded its goals to reduce methane emissions by 15 percent and flaring by 25 percent by year-end 2020, compared to 2016 levels. The company has conducted more than 23,000 voluntary methane leak surveys across more than 9,500 sites and eliminated all high-bleed pneumatic devices across its U.S. unconventional production.
ExxonMobil has previously announced plans to further reduce greenhouse gas emissions in its operations by 2025, compared to 2016 levels. The plans include a 15 to 20 percent reduction in greenhouse gas intensity of upstream operations. The reductions will be supported by a 40 to 50 percent reduction in methane intensity and a 35 to 45 percent reduction in flaring intensity. The company aims for industry-leading greenhouse gas performance across its businesses by 2030.
About ExxonMobil
ExxonMobil, one of the largest publicly traded international energy companies, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is one of the largest refiners and marketers of petroleum products, and its chemical company is one of the largest in the world. To learn more, visit exxonmobil.com and the Energy Factor.
Outlooks; projections; goals; descriptions of strategic plans and objectives; plans to reduce future emissions intensity and the expected resulting absolute emissions reductions; emission profiles of future developments; methane capture and leak results from operational and technology efforts; the effectiveness of third party certifications; energy market evolution; and other statements of future events or conditions are forward-looking statements. Actual future results could differ materially due to a number of factors. These include the development and pace of supportive market conditions and national, regional and local policies relating to emission reductions, including methane leaks; changes in laws and regulations including laws and regulations regarding greenhouse gas emissions, carbon costs, and taxes; trade patterns and the development and enforcement of local, national and international mandates and treaties; unforeseen technical or operational difficulties; the ability to bring new technologies to commercial scale on a cost-competitive basis, including large-scale hydraulic fracturing projects and methane leak detection technologies; changes in supply and demand and other market factors affecting future prices of oil, gas, and petrochemical products; and other factors discussed in this release and under the heading “Factors Affecting Future Results” on the Investors page of ExxonMobil’s website at exxonmobil.com.
What is ExxonMobil's recent initiative regarding natural gas certification?
ExxonMobil has begun the certification process for natural gas at its Poker Lake facility in New Mexico, which will help validate its methane emissions reduction efforts.
Who is the independent validator for ExxonMobil's natural gas certification?
The independent validator for ExxonMobil's natural gas certification is MiQ, a non-profit organization.
When will the certified natural gas from ExxonMobil be available?
The certified natural gas from ExxonMobil is expected to be available to customers by the fourth quarter of 2021.
How does the MiQ certification benefit ExxonMobil's customers?
The MiQ certification helps customers meet their emissions goals by providing assurance that the natural gas produced has lower methane emissions.
What are ExxonMobil's goals for reducing greenhouse gas emissions?
ExxonMobil aims to reduce greenhouse gas intensity by 15 to 20 percent and methane intensity by 40 to 50 percent by 2025, compared to 2016 levels.
