THE CHALLENGE
EQT Corporation, the leading natural gas producer in the United States, operating primarily in the Appalachian Basin, recognized the need to address its Scope 1 and Scope 2 emissions, particularly methane, to meet stakeholder expectations and produce a higher quality product. The challenge was to implement effective decarbonization strategies across a vast and complex operational footprint while ensuring energy reliability and economic viability.
At EQT, we believe that meeting the world’s growing energy needs and addressing concerns over climate change go hand in hand. Through innovation, collaboration, and an unwavering commitment to operational excellence, we have made significant strides in reducing our emissions — including achieving industry-leading methane performance and becoming the first traditional energy company of scale in the world to achieve net zero on a Scope 1 and Scope 2 basis in 2024. As a proud signatory of the Oil & Gas Decarbonization Charter, we are dedicated to advancing these efforts, sharing best practices, and delivering cleaner, more responsible energy for a lower-carbon future.
Toby Rice, President & CEO, EQT Corporation
THE SOLUTION
EQT implemented a comprehensive decarbonization strategy encompassing operational enhancements, technological innovation, and strategic collaborations:
- Pneumatic Device Replacement: Between June 2021 and December 2022, EQT replaced or retrofitted over 9,000 natural gas-powered pneumatic devices – control systems used to run operations safely and reliably – enabling the company to minimize or eliminate leaks and reducing annual emissions by approximately 300,000 metric tons of CO₂e.
- Electrification of Frac Fleets: Starting in 2020, EQT transitioned from diesel-powered to electric hydraulic fracturing fleets powered by natural gas turbines, cutting emissions by an estimated 35,000–50,000 metric tons of CO₂e annually.
- Combo Development: Implemented advanced digital technologies and long-range well planning to improve drilling efficiency by approximately 30%, leading to significant GHG emissions reductions.
- Emissions Control on Acquired Assets: Post-acquisition of Alta Resources, EQT installed emissions control devices, eliminating approximately 35,000 metric tons of CO₂e from these assets.
- Advanced Methane Monitoring: Co-founded the Appalachian Methane Initiative to deploy satellite and aerial technologies for efficient detection and remediation of methane leaks across operations.
- Commitment to Global Initiatives: Signed the Oil and Gas Decarbonization Charter, pledging to achieve net zero emissions by 2050 and eliminate routine flaring by 2030.
- Community and Economic Impact: Generated approximately $1.1 billion of GDP during 2023 and paid $795 million in royalties to local landowners, supporting community development.
Through these integrated actions, EQT achieved net zero Scope 1 and Scope 2 GHG emissions across its upstream operations, including recently acquired assets, in 2023, two years ahead of its 2025 target.
Expanding impact
EQT’s journey offers valuable insights into effective decarbonization strategies:
- Proactive Goal Setting: Establishing ambitious, measurable targets can drive innovation and accelerate progress.
- Technology Integration: Leveraging advanced technologies enhances operational efficiency and environmental performance.
- Stakeholder Collaboration: Engaging with partners, regulators, and communities fosters trust and facilitates the implementation of sustainability initiatives.
- Transparency and Accountability: Regular reporting and third-party certifications reinforce credibility and stakeholder confidence.
- Continuous Improvement: Ongoing assessment and adaptation are crucial to sustaining and advancing decarbonization efforts.
EQT’s comprehensive approach to decarbonization demonstrates that with strategic planning, technological innovation, and stakeholder engagement, significant environmental and economic benefits can be achieved in the energy sector.
Read more about EQT’s decarbonization here: https://www.eqtnetzeroplus.com/