Engie, BKV form innovative partnership to address climate change
Engie has reached a deal with BKV on the sale of natural gas and associated carbon sequestered credits.
This innovative deal brings together two energy industry leaders dedicated to addressing climate change.
How the arrangement works is, BKV will deliver Engie physical natural gas, as well as an equivalent amount of gas tokens. The gas tokens represent the environmental attributes associated with both responsibly sourced gas (RSG) production and capturing carbon dioxide from the gas stream and injecting it into a permitted facility owned by BKV.
Further, the CO2 sequestration project underpinning this transaction is BKV’s Barnett Zero project, located in Bridgeport, Texas. The CO2 capture and sequestration will be third-party certified.
“We are proud to work with BKV in its development of innovative, differentiated gas products that are key to ensuring the role that natural gas can play as part of the energy transition. This transaction is representative of our commitment to reduce greenhouse gas emissions and to limit the environmental impact of its activities,” Engie officials said.
Carbon-sequestered gas represents an opportunity for end-users to purchase measured and verified differentiated natural gas that is certified and registered using blockchain technology. Engie officials believe that this level of transparency and trust is critical for the energy transition.
