Retail Supplier Affiliate To Establish New Class Of Technology-based Carbon Credits Attributed To Carbon Sequestration -- EnergyChoiceMatters.com

Retail Supplier Affiliate To Establish New Class Of Technology-based Carbon Credits Attributed To Carbon Sequestration

November 11, 2022

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Reporting by Paul Ring • ring@energychoicematters.com

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ENGIE Energy Marketing NA, Inc ("EEMNA"), a subsidiary of ENGIE North America, announced that it will develop a framework and marketing platform for sourcing measured Sequestrated Carbon in establishing a new class of differentiated technology-based Carbon Credits.

"EEMNA entered into a letter of intent with BKV Corporation to build this framework for verifiable environmental attributes with the use of carbon credits. The framework includes two approaches along the value chain. BKV will measure, reduce, and verify emissions using the latest operational enhancements and technologies, including continuous emissions monitoring while also using RSG gas. Secondly, BKV will deliver Sequestrated Carbon Credits to EEMNA under a defined framework for marketing to support development of a new and emerging market," Engie said

BKV is developing one of the first permanent U.S. commercial and industrial geologic sequestration projects. Scheduled to come online in late 2023, it involves the injection of CO2 into a permitted facility owned by BKV in Texas

EEMNA announced that an independent environmental data and software company will provide verifiable data and analysis, reconciling sensing technologies, including 3rd party sensors, and including measurement, reporting, and validation of methane intensity and the carbon emissions footprint of upstream, midstream, and carbon capture use and sequestration facilities

"EEMNA considers this initiative a first differentiated offering and the beginning of an emerging U.S. market in which an LNG buyer, gas utility, power utility, or other end-user can purchase measured and verified sequestrated carbon credits from a single, trusted company. This level of transparency is critical for the energy transition," Engie said

"BKV's natural gas commodity will have a complete, independently measured emissions profile, including one of the first permanent U.S. commercial and industrial geologic sequestration projects," BKV said

BKV itself is part of a family of companies which recently launched an Option 1 Texas retail electric provider (see details here)

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