Setting out MiQ’s core principles
We have developed the first version of the MiQ Standard with input from oil and gas operators, natural gas buyers, and environmental stakeholders. It encompasses core principles, scope and criteria for assessment.
The Main Document defines the overall rationale and scope of the Standard, the terms and definitions used throughout the Standard documents, and the core principles that comprise the foundation for this Standard. Additionally, it outlines the roles and responsibilities of key actors in the Certification process, and the general applicability and criteria for MiQ Certificate issuance, including the Certificate Grading System based on the three Standard elements elaborated further in the Subsidiary Documents.
SD 1: Methane Intensity
Defines the criteria, method, and documentation required for Producers to determine the Methane Intensity of a Facility. The methodology is based on the protocol established by the Natural Gas Sustainability Initiative (NGSI).
SD 2: Company Practices
Outlines the mandatory and additional improved policies and procedures related to methane emissions management at the Facility, including but not limited to: monitoring for unintended methane emissions, minimising intended methane emissions, reporting systems and processes, and training. Facilities that demonstrate additional improved practices may be eligible for a higher certificate grade.
SD 3: Monitoring Technology Deployment
Details the technology deployment requirements for methane emissions detection, including criteria for facility-level and source-level inspections.
Procedure 1: Certification
Defines the Certification objectives as well as the Certification process under this Standard. It details each step of the Certification cycle, including ex-ante validation and ex-post verification. This document also details requirements for auditors.
Procedure 2: Non-Compliance
Defines possible non-compliance events (e.g. material deviations in Methane Intensity, implemented Company Practices and/or planned deployment of Monitoring Technology from what was estimated or planned as of ex-ante validation). The document specifies the steps a Producer must take if such an event occurs during the certified production period (documentation and notification), and details the recordkeeping requirements for the non-compliance assessment at the ex-post verification stage.
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.
The role of finance in reducing methane emissions from the oil and gas sector as part of the clean energy transition.
Certification can significantly reduce methane emissions and simplify complex import regulations for the EU.