bp Expands Natural Gas Certification to 100% of its U.S. Onshore Upstream Operations
MiQ, the non-profit global leader in methane certification, today announced that it has independently audited and certified bp (NYSE: BP) as the first energy major in the U.S. to verify the methane intensity of its entire U.S. onshore portfolio of natural gas.
- bpx energy, bp's U.S. onshore upstream business, expands MiQ certification to all U.S. onshore facilities in Texas and Louisiana.
- Independent certification is occurring for 1.1. billion cubic feet per day (bcf/d) of bp's U.S. onshore natural gas production and has been third party audited against MiQ's Standard.
- The MiQ Standard assesses methane emissions management across three criteria: methane emissions intensity at a facility level; monitoring technology deployment; and company practices.
- Portfolio-wide certification positions bp as a leader in the growing market for certified natural gas.
MiQ certification provides an industry leading transparent, verified method for evaluating the emissions performance of bpx's operations to purchasers of its natural gas. As demand for independently certified gas from utilities and industrial users increases, bp's commitment to certify its entire U.S. onshore upstream portfolio positions it as a market leader.
Dave Lawler, bpx energy CEO said: "When we launched our certified natural gas pilot with MiQ in 2021 we endeavored to lead in this space. Today's announcement makes clear we are serious about achieving our ambition. MiQ certification provides the market with clear, transparent and verifiable data that highlight how bpx is committed to operating assets with low methane intensity."
The certification, completed in March 2023, gives bpx energy a more granular understanding of its methane intensity and source emissions, which enables ongoing and additional methane emissions reduction. MiQ's peer-reviewed, market-based certification is already creating transparency on methane emissions, differentiating the supply of natural gas, and helping operators make the right investments to further reduce emissions.
Georges Tijbosch, MiQ CEO, said: "Before MiQ launched there was no transparency on which natural gas producers were prioritizing the reduction of methane from their operations. This move from bpx represents a seminal step forward for the industry and gives bpx and its customers full transparency on methane emissions."
This commitment follows an initial certification at bpx energy's South Haynesville facility in December 2021. Certification now includes natural gas facilities in the Eagle Ford, Haynesville and Permian basins.
As part of the certification process, these facilities are independently audited by one of 11 auditors accredited by MiQ to verify the methane emissions intensity of bpx's natural gas portfolio. Leveraging data from this process enables ongoing, measured performance and helps the company assess where best to invest capital to continue to improve asset performance.
MiQ currently certifies approximately 4% of the global gas market and 17% of U.S. gas production.