National Fuel Gas Company Continues Peer Leading Sustainability Initiatives Through EO100TM and MiQ Programs

Rhea-AI Summary

National Fuel Gas Company has achieved significant sustainability milestones through two key re-certifications. The company's Midstream segment has been re-verified under the EO100™ Standard, earning an 'A-' grade and becoming the first entity to improve two grades after initial certification. The verification covers 100% of their natural gas gathering system assets across five principles including corporate governance, social impacts, Indigenous Peoples' rights, safety standards, and environmental impacts.

Additionally, Seneca Resources, NFG's Upstream segment, has been re-certified by MiQ with an 'A' grade for their Appalachian natural gas production assets, which produce over 1 billion cubic feet daily. The MiQ certification evaluates methane intensity, emissions management practices, and monitoring technology deployment.

Midstream Company Achieves Re-verification under the Equitable Origin Standard and Seneca Resources Achieves Re-certification under MiQ

WILLIAMSVILLE, N.Y., Oct. 30, 2024 (GLOBE NEWSWIRE) -- National Fuel Gas Midstream Company, LLC (Midstream), the Gathering segment of National Fuel Gas Company (NYSE: NFG) (National Fuel or the Company), has been re-verified under Equitable Origin’s EO100™ Standard for Responsible Energy Development. The re-verification independently confirms that Midstream continues to adhere to the performance obligations earned under Midstream’s initial EO100™ certification, achieved in 2023, while also verifying Midstream’s commitment to the continuous improvement plan established upon initial certification. During the re-verification process completed in October 2024, Midstream was awarded an “A-” grade, with Midstream recognized as the first entity in the EO100™ framework to improve two grades following initial certification. 100% of Midstream’s natural gas gathering system assets were subject to a series of rigorous performance targets that fall under the five principles of the EO100™ Standard, including corporate governance and ethics; social impacts, human rights and community engagement; Indigenous Peoples' rights; occupational health, safety and fair labor standards; and environmental impacts, biodiversity and climate change. Midstream was the first gathering or midstream company and second National Fuel subsidiary to earn EO100™ Standard certification, joining Seneca Resources Company, LLC (Seneca Resources), which previously achieved certification of 100% of its natural gas production under the EO100^TM Standard in 2021.

Furthermore, Seneca Resources, NFG’s Upstream segment, announced it has been re-certified by MiQ and was awarded an “A” grade (the highest certification level available) for 100% of its Appalachian natural gas production assets, which produce over 1 billion cubic feet of gross production per day. The MiQ certification focuses on three emissions criteria, including: methane intensity, practices to manage methane emissions, and emissions monitoring technology deployment.

“The EO100™ and MiQ re-certifications that Midstream and Seneca achieved demonstrate our dedication to sustainability through our proactive emissions reduction efforts and best practices,” said Justin Loweth, President of Seneca Resources Company, LLC and National Fuel Gas Midstream Company, LLC. “I am proud of the work our team has done to not only achieve these accolades, but their commitment to build upon these certifications, engraining these principles and practices into our everyday culture.”

About National Fuel Gas Company:
National Fuel is a diversified energy company headquartered in Western New York that operates an integrated collection of natural gas assets across four business segments: Exploration and Production, Pipeline and Storage, Gathering and Utility. Additional information about National Fuel is available at www.nationalfuel.com.

NFG Contacts:
Natalie Fischer
Analyst Contact
716-857-7315

Karen Merkel
Media Contact
716-857-7654

About Equitable Origin:
Equitable Origin is a non-profit organization that created the first market-based mechanism to recognize and reward responsible energy producers and to empower energy purchasers through independent, site-level certification. The EO100™ Standard for Responsible Energy Development is grounded in a set of comprehensive, globally applicable ESG performance targets developed with extensive stakeholder input. Certification against the EO100™ Standard promotes best practices and drives improvements in ESG performance while enabling a market for differentiated energy production. To learn more visit energystandards.org.

About MiQ:
MiQ is an independent not-for-profit established by RMI and SYSTEMIQ to facilitate a rapid reduction in methane emissions from the oil and gas sector. MiQ works with operators across the full supply chain to provide the data needed to understand and reduce methane emissions. To learn more visit miq.org.

Cautionary Statements
Certain statements contained herein, including statements identified by the use of the words “anticipates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “believes,” “will,” “may,” and similar expressions, and statements other than statements of historical facts, are “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties, which could cause actual results or outcomes to differ materially from those expressed in the forward-looking statements. While National Fuel’s expectations, beliefs, and projections are expressed in good faith and are believed to have a reasonable basis, actual results may differ materially from those projected in forward-looking statements. In addition to other factors, the following are important factors that could cause actual results to differ materially from those discussed in the forward-looking statements: (1) National Fuel’s ability to estimate accurately the time and resources necessary to implement new practices; (2) governmental/regulatory actions and/or market pressures to reduce or eliminate reliance on natural gas; and (3) the other risks and uncertainties described in (i) National Fuel’s most recent Annual Report on Form 10-K at Item 7, MD&A, and Quarterly Reports on Form 10-Q at Item 2, MD&A, under the heading “Safe Harbor for Forward-Looking Statements,” and (ii) the “Risk Factors” included in National Fuel’s most recent Annual Report on Form 10-K at Item 1A and Quarterly Reports on Form 10-Q at Item 1A. National Fuel disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof. Because of these risks and uncertainties, readers should not place undue reliance on these forward-looking statements or use them for anything other than their intended purpose.

FAQ

What grade did National Fuel Gas Midstream (NFG) receive in its 2024 EO100™ re-verification?

National Fuel Gas Midstream received an 'A-' grade in its October 2024 EO100™ re-verification, becoming the first entity to improve two grades following initial certification.

What production volume is covered by Seneca Resources' MiQ certification for NFG?

Seneca Resources' MiQ certification covers Appalachian natural gas production assets that produce over 1 billion cubic feet of gross production per day.

What areas does the EO100™ Standard evaluate for NFG's Midstream operations?

The EO100™ Standard evaluates five principles: corporate governance and ethics, social impacts and community engagement, Indigenous Peoples' rights, occupational health and safety standards, and environmental impacts and climate change.

What grade did Seneca Resources (NFG) achieve in its MiQ re-certification?

Seneca Resources achieved an 'A' grade in its MiQ re-certification, which is the highest certification level available.