Benefitsof MiQ Certification
Differentiating the commodified gas market
MiQ Certification demonstrates a credible evaluation of methane emissions performance, and stimulates further emissions reductions by enabling producers to differentiate their gas supply based on its performance. This differentiation will create different price levels in the gas market and, therefore, an economic incentive for companies to invest in abatement.
The MiQ Standard and Certification system were developed in collaboration with key stakeholders from the oil and gas industry, academic, regulatory, and NGO communities to ensure that it meets their standards and will benefit all parties.
Currently, the international gas market is not differentiated based on methane emissions performance. MiQ Certification will introduce differentiated gas to the market which has been assessed according to the MiQ Standard. This differentiation will result in different price levels in the market depending on methane emissions performance during production. The different price levels will create an economic incentive for companies that are lagging behind to invest in upgrades to reduce methane emissions.
Unlike other frameworks, which assess emissions at the national or company level, MiQ Certification will be based on a Standard that is assessed at the facility or platform level. This more granular assessment will create transparent metrics for practically comparing gas supplies based on their methane emissions performance.
MiQ Certification enables producers to credibly demonstrate and monetise effective methane emissions management and reduction efforts. It provides an independent framework for assessment, third party validation, and creates a market for gas that is differentiated based on its methane emissions performance.
MiQ Certification helps gas buyers demonstrate their commitment to climate action by credibly proving the methane intensity of their gas purchases. By purchasing MiQ certified gas, buyers can actively choose to buy gas with lower upstream methane emissions, of a series of grades. It also enables an apples-to-apples comparison of the climate impact of various gas supplies.
MiQ Certification provides a credible, enforceable certification standard for methane performance that can help meet and substantiate regional and national climate and emissions targets. As a market-based solution that transcends national boundaries, MiQ Certification can ensure that imported gas is also differentiated based on its methane emissions performance.
MiQ Certification establishes a uniform framework to quantify and reduce methane emissions from your energy supply in order to meet voluntary and regulated climate targets.
MiQ Certification provides granular transparency on the methane emissions performance of investments to assist in ESG and climate risk evaluation and reporting. Unlike other standards, which are assessed on the national or company level, the MiQ Standard is assessed on a facility or platform level, creating greater granularity and a more comparable performance measure. It also means that MiQ Certification could be used for M&A transactions or divestments.
News and views
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EQT Corporation today announced its commitment to seek independent certification of a majority of its produced natural gas under certification standards developed by Equitable Origin and MiQ.
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Certification can significantly reduce methane emissions and simplify complex import regulations for the EU.