EQT Corp., a Pittsburgh-based natural gas company with production and midstream operations focused in the Appalachian Basin, became the nation’s first traditional energy producer of scale to achieve net zero Scope 1 and Scope 2 greenhouse gas (GHG) emissions.
“This achievement undoubtedly reflects the hard work of our incredible team to revolutionize our operations to effectively reduce our emissions while at the same time achieving peak performance and driving value,” said Toby Rice, EQT president and CEO.
The energy company, which is engaged in hydrocarbon exploration and pipeline transport, said Oct. 23 that it achieved this net zero status ahead of its 2025 goal primarily through emissions abatement, with the remainder offset by company-generated offsets rather than purchased credits.
“EQT’s becoming the first traditional energy producer of scale in the world to achieve this net zero status is thanks to the low-emissions foundation established within our operating footprint in the Appalachian Basin — one of the largest, low-cost deposits of traditional energy in the world,” Rice said.
The achievement covers the entirety of EQT’s upstream operations, inclusive of the recently acquired Tug Hill/XcL Midstream and Alta Resources assets, which were not part of the original target set in 2021 and combined represented an approximately 52 percent increase relative to starting-point emissions, according to the company.
Looking ahead, Rice said that EQT remains committed to continuing its leadership through its new NetZero Now+ initiative, as well.
EQT also said that its ability to meet net zero Scope 1 and Scope 2 GHG emissions achievements has been grounded in operational improvements, strategic local partnerships, and building and acquiring assets.
The company’s approach is focused on significant in-house emissions reductions that targeted the leading sources of EQT’s emissions, supplemented by carbon offset generation, including pneumatic device replacement; replacing conventional diesel fleets with electric fleets powered by natural gas-fired turbines using EQT-produced natural gas; implementing a combo development approach that applies advanced digital technologies and long-range well planning to its operational strategy; and installing emissions control devices on acquired Alta assets, among others.
“In 2019, EQT announced its vision to become the operator of choice for all stakeholders,” said Rice. “As part of our efforts, we assessed our business and established a climate change strategy that set a bold emissions reduction goal.
“At the time of announcement, this required a reduction or offset of over 600,000 MT CO2e,” he added. “We are proud to reach this historic milestone as the first traditional energy producer of scale to achieve net zero.”