NextDecade and Project Canary Launch GHG Measurement and Certification Framework, First for Global LNG Industry
April 19, 2021 at 05:00 AM EDT
SOURCE: Project CanaryDESCRIPTION:
HOUSTON and DENVER, April 19, 2021 /3BL Media/ - NextDecade Corporation (NextDecade) (NASDAQ: NEXT) and Project Canary announced today the formation of a joint pilot project for monitoring, reporting, and independent third-party measurement and certification of the greenhouse gas (GHG) intensity of liquefied natural gas (LNG) to be sold from NextDecade’s Rio Grande LNG export facility in the Port of Brownsville, Texas.
Project Canary is focused on delivering independent, trusted, continuous emissions monitoring data and related technologies to assess environmental performance across the energy value chain. In its pilot project with NextDecade, the first in the global LNG industry, Project Canary will deploy its TrustWell™ certification process to confirm each element of the natural gas value chain – from the wellhead to the ship at Rio Grande LNG – has achieved low emissions targets and utilized the highest standards of environmental performance and social responsibility. This partnership will enable the development of a responsibly sourced natural gas supply chain from leading producers in the Permian Basin and Eagle Ford Shale and independent, third-party certification of the GHG intensity of LNG.
“NextDecade is committed to working with sustainable producers seeking to supply responsibly sourced natural gas to Rio Grande LNG,” said Matt Schatzman, NextDecade’s Chairman and Chief Executive Officer. “Project Canary’s independent measurement and certification platform will provide transparency and give confidence to our customers who are increasingly focused on securing low greenhouse gas-intensive LNG. Reliable, competitively priced LNG and responsible environmental stewardship are not mutually exclusive, and we are pleased to work with Project Canary to establish a new and higher standard for the supply of low-GHG LNG to markets around the world.”
Last month, NextDecade announced its wholly owned subsidiary, NEXT Carbon Solutions, is developing one of the largest carbon capture and storage (CCS) projects in North America at Rio Grande LNG. NEXT Carbon Solutions’ CCS project at Rio Grande LNG is expected to enable the capture and permanent geologic storage of more than five million tonnes of carbon dioxide (CO2) per year. Combining responsibly sourced gas with the anticipated CO2 emissions reduction associated with NEXT Carbon Solutions’ CCS project is expected to enable Rio Grande LNG to produce the lowest lifecycle GHG LNG on a free-on-board basis and to be the greenest LNG project in the world.
“The differentiated market for responsibly sourced gas is expanding rapidly on a global scale as customers, investors and regulators seek, push for, and reward energy produced with the highest environmental standards,” said Chris Romer, Project Canary Co-Founder and Chief Executive Officer. “We’re proud of the important and growing role we’re playing in putting our independent technologies to work to help our customers and look forward to supporting NextDecade and the companies involved in its natural gas value chain in enhancing environmental performance, ensuring compliance with regulatory standards, and delivering on commercial commitments.”
A Denver-based B-Corp, Project Canary provides emissions monitoring data and related technologies across the energy value chain – from the production, transmission and marketing of responsibly sourced natural gas. Project Canary’s TrustWell™ certification is the premium standard for responsibly sourced gas. Trustwell™ certification, which scores across four primary categories of responsibility – air, water, land, and community – assigns ratings based on independent review and rigorous data analysis and has been involved in over 85 percent of responsibly sourced gas transactions in the United States to date. Project Canary has completed more than 5,500 TrustWell™ certifications, with over 1,000 in process, and by mid-year 2021 will have approximately 400 real-time emissions monitoring units deployed.
# # #
About NextDecade Corporation
About Project Canary
NextDecade Forward-Looking Information
KEYWORDS: Project Canary, NextDecade, responsibly sourced gas, emissions monitoring