ENGIE Energy Marketing and Range Resources Corporation Announce Responsibly Sourced Natural Gas Deal
HOUSTON and FORT WORTH, Texas – ENGIE Energy Marketing NA, Inc. (“ENGIE Energy Marketing”) and Range Resources Corporation (NYSE: RRC) (“Range”) today announced an ongoing transaction for natural gas produced under higher environmental, social and governance (ESG) standards.
Range, one of the largest U.S. natural gas producers focused on Marcellus Shale development, produces Responsibly Sourced Gas (RSG) certified by Project Canary, a Denver-based Public Benefit Corporation focused on providing continuous emissions monitoring data and environmental assessments. ENGIE Energy Marketing is a subsidiary of global energy utility ENGIE S.A. with ambitions to be the leader in the energy and climate transition.
Responsibly Sourced Gas is natural gas produced while respecting environmental and social standards along with best practices to minimize methane emissions and overall environmental footprint. Independent third-party certification validates that the natural gas is produced in accordance with these expectations.
ENGIE Energy Marketing, a wholly-owned subsidiary of ENGIE S.A. (“ENGIE”), will leverage its blockchain-based platform, The Energy Origin (TEO), in marketing the RSG. TEO enables ENGIE Energy’s downstream customers to securely trace the certificates representing the RSG’s low methane emissions attributes.
“ENGIE is committed in our fight against the energy and climate challenges facing the world today and is proud to drive the rapidly growing market for responsibly sourced gas and high ESG performance products,” said Ken Robinson, President of ENGIE Energy Marketing. “We expect continued expansion of these new markets as part of the response to the energy transition. More transparency and collaboration will foster more innovation, allowing this industry to contribute positively to reduce CO2 emissions and transition to a low-carbon future.”
“Natural gas is part of the global solution to meeting growing energy needs while helping to reduce overall carbon emissions.” said Jeff Ventura, Range’s Chief Executive Officer. “Our natural gas is produced with a focus on environmental responsibility and transparency. We believe this certification process and supply agreement highlight the advancements we have made in the Marcellus and more broadly reflect the expanded role that natural gas will have for decades to come.”
Project Canary will provide monitoring equipment and related technologies to verify low methane emissions, and independent RSG certification through its TrustWell™ process for Range operations in the Appalachian Basin. Project Canary applies science, technology and data in providing real-time, continuous air emissions monitoring and through its TrustWell™ certification process, which independently reviews, verifies and scores over 600 engineering and operational aspects of natural gas production and delivery categories including air, water land and community.
“Accelerating the energy transformation requires data, innovative technology, and the right partners,” said Project Canary Co-Founder and CEO Chris Romer. “The market is demanding verified molecules. If we can account for how those dense energy molecules are produced, we’ll be able to drive a cleaner, better way of doing things. Responsibly sourced gas will play a critical role in achieving sustainability targets.”
Our group is a global reference in low-carbon energy and services. Together with our 170,000 employees, our customers, partners and stakeholders, we are committed to accelerate the transition towards a carbon-neutral world, through reduced energy consumption and more environmentally-friendly solutions. Inspired by our purpose (“raison d’être”), we reconcile economic performance with a positive impact on people and the planet, building on our key businesses (gas, renewable energy, services) to offer competitive solutions to our customers. Turnover in 2020: 55.8 billion Euros. The Group is listed on the Paris and Brussels stock exchanges (ENGI) and is represented in the main financial indices (CAC 40, Euronext 100, FTSE Eurotop 100, MSCI Europe) and nonfinancial indices (DJSI World, DJSI Europe, Euronext Vigeo Eiris – Eurozone 120/ Europe 120/ France 20, MSCI EMU ESG, MSCI Europe ESG, Stoxx Europe 600 ESG, and Stoxx Global 1800 ESG).
The Energy Origin (TEO) is the in-house startup platform developed by ENGIE S.A.. TEO is bringing trust and transparency to low carbon energy tracking. Built on top of blockchain technology, TEO offers services on green power, natural gas in more than 8 countries. Its smart contract is audited by Bureau Veritas Exploitation. For more information on TEO, see www.theenergyorigin.com
About Range Resources
Range Resources Corporation (NYSE: RRC) is a leading U.S. independent natural gas and NGL producer with operations focused in stacked-pay projects in the Appalachian Basin. The Company is headquartered in Fort Worth, Texas. More information about Range can be found at www.rangeresources.com.
About Project Canary
Project Canary is a climate tech company that provides trusted, independent, and verified environmental data to track, measure, and score the “E” in ESG across an enterprise’s operational value chain. They are the leaders in providing dynamic environmental ratings using real-time monitoring data at the facility level to assess and improve operating practices and provide science-based and technology-enabled measurement of emission profiles, including methane. Formed as a Public Benefit Corporation, Project Canary’s team of scientists, engineers, and seasoned industry operators have earned recognition for their uncompromising standards, including being named “Best for the World” B Corp. projectcanary.com.
ENGIE Energy Marketing NA, Inc.
Michael Clingan, Press Relations
Range Resources Corporation
Laith Sando, Vice President – Investor Relations
Brian Miller, Vice President Growth and Policy