Startup looks to help oil and gas producers 'get real' on methane emissions
/Natural gas companies are facing growing pressure from investors and customers to demonstrate their fuel is cleaner than competitors as the industry looks to overcome doubts that it can continue to play a role in addressing climate change.
But the industry has long struggled to collect and provide accurate data to prove claims of clean gas.
A new range of third-party data providers aims to change that by helping companies measure their emissions and certify gas as being clean.
Denver-based startup Project Canary, launched in 2019, scores oil and gas operators based on factors including methane emissions intensity, the level of emissions per unit of economic activity.
The company also provides producers solar-powered devices for continuously monitoring methane emissions that can be installed across the oil and gas supply chain.
Based on the data it helps collect, Project Canary will certify producers as providing “Responsibly Sourced Gas,” a branding that could give operators a leg up in the marketplace.
“Think of it as a credit score,” Project Canary co-founder and CEO Chris Romer told the Washington Examiner. “We are like the Moody and S&P of climate ratings.”