(Kimmeridge, 1.Nov.2024) — Kimmeridge-backed Commonwealth LNG and Kimmeridge Texas Gas (KTG) announced a commitment to obtain independent certification of their natural gas operations under the protocols developed by MiQ.
The initiative supports Kimmeridge’s innovative ability to deliver a “wellhead-to-water” net zero cargo for Scope 1 and 2 greenhouse gas emissions (GHG) using Kimmeridge’s secured LNG offtake from Commonwealth’s facility. These efforts underscore Kimmeridge’s dedication to environmental stewardship and position both portfolio companies at the forefront of industry transparency and reduced emissions.
The MiQ certification will involve a comprehensive, third-party audited assessment of both companies’ natural gas operations, leading to a verification of total carbon emissions. An emphasis will be placed on methane emissions through the MiQ Standard’s requirements on methane mitigation, monitoring, and measurement. Both companies will also work with their midstream partners to understand the emissions performance and advocate for certification. This process will provide a credible and transparent emissions profile across multiple segments of the natural gas supply chain, from production to liquefaction, supporting regulatory compliance with global purchasers. The certification process for Commonwealth will commence within one month of reaching full commercial operations, while KTG will complete its certification in 2025.
As part of this commitment, following Commonwealth’s final investment decision and commencement of construction, Kimmeridge affiliate Chestnut Carbon will undertake a conservation-level afforestation project in Louisiana. This significant land acquisition and reforestation effort will enable Kimmeridge to deliver a fully verified “wellhead-to-water” net zero cargo upon operations launch.
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