In late March, MiQ announced its new certification to cover all GHGs (Greenhouse Gases) from LNG supply chain including methane, carbon dioxide and nitrous oxide. LNG buyers will be able to compare exporters and choose lower emissions cargoes.
MiQ launched the world’s first certification program that enables a complete assessment of all greenhouse gas (GHG) emissions from the liquified natural gas (LNG) supply chain. As the company points out, importers haven’t had a transparent or credible way to quantify the level of emissions from purchases, despite rocketing global demand for LNG.
MiQ claims that its new framework tracks 100% of methane, carbon dioxide and nitrous oxide emissions from every segment of the LNG supply chain – including production, gathering and boosting, processing, pipeline, liquefaction, shipping, and regasification.
In addition, the GHG Standard gives importers the power to compare exporters using one common framework. Ultimately, the company claims that buyers can reduce their Scope 3 emissions while driving pricing signals needed to incentivize investments from producers and exporters
We are witnessing a significant spike in demand for LNG, especially in Europe and Asia, elevating concerns about the lack of transparency on emissions. Our comprehensive GHG framework signifies significant progress toward reducing unnecessary upstream and Scope 1 and 2 LNG emissions to near zero, as we transition to a renewable energy future.
… said Georges Tijbosch, CEO of MiQ
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