Strategic partnership advances commercialization of carbon products and credits
EQT Corporation and Context Labs have confirmed a strategic partnership to advance the commercialization of verified low carbon intensity natural gas products and carbon credits .
The partnership brings together EQT , the largest natural gas producer in the US and Context Labs , an expert in distributed ledger technology , advanced climate data and analytics , Machine Learning and AI-capabilities .
Through tracking , reporting and verification of critical emissions data , the strategic partnership will support EQT in achieving its industry-leading emissions reduction targets , which include a commitment to reach net zero greenhouse gas ( GHG ) emissions by 2025 .
With a focus on emissions quantification , operational analysis and the certification of natural gas production , the companies will work to scale emissions mitigation across the full energy value chain .
Context Labs will provide an enterprise-wide deployment of their Decarbonization-as-a-Service ( DaaS ) platform across EQT ’ s asset footprint , with the goal of achieving full digital integration of EQT ’ s emissions data .
The resulting creation of certified low-carbon intensity products will add a next dimension to EQT ’ s already robust and digitally enabled organization .
EQT AND CONTEXT LABS ARE LEADING THE INDUSTRY IN CAPTURING OPPORTUNITIES NOT JUST TO DECARBONIZE NATURAL GAS , BUT CREDIBLY VALIDATE OUR EMISSIONS REDUCTIONS .
Context Labs ’ enterprise data fabric platform will enable certification and verification of the carbon intensity of EQT ’ s operating assets , with certificates registered in Context Labs ’ CLEAR Path repository .
Additionally , the relationship will afford EQT the opportunity to integrate carbon credit projects into CLEAR Path in support of generating asset-grade , data-backed carbon credits .
“ We have taken decisive actions to cut emissions across our operations . Now , with this specialized data , we can accelerate our path to net zero and reach our goals more efficiently ,” said Toby Z . Rice , EQT President and CEO . “ EQT and Context Labs are leading the industry in capturing opportunities not just to decarbonize natural gas , but credibly validate our emissions reductions , which is a critical component to ensuring natural gas plays a leading role in the world ’ s energy evolution .”
“ This partnership will comprehensively verify the most vital type of data – environmental data – rendering the highest quality , cryptographically secured , asset-grade , transparent certifications and credits available on the market today . Together with Toby Rice ’ s ambitious leadership at EQT , we will accelerate the global energy transition using empirical , contextdriven insights ,” said Dan Harple , Founder and CEO of Context Labs . p
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