Seneca Resources and Northeast Natural Energy Join CG Hub's Certified Natural Gas Trading Platform

Leading Natural Gas Producers Become First Subscribers Providing Liquidity on World's First Electronic Trading Platform for Certified Natural Gas and Certificates

CHICAGO, June 12, 2023 /PRNewswire/ -- CG Hub, the world's first commodities trading platform focused exclusively on certified natural gas and certified natural gas certificates, today announced that Seneca Resources Company, LLC (Seneca) and Northeast Natural Energy (Northeast) have joined its certified natural gas platform. Effective immediately, Seneca and Northeast will be providing access to over 1 billion cubic feet per day of certified natural gas liquidity through CG Hub.

The first commodities trading platform of its kind to create a marketplace for certified natural gas and related certificates, CG Hub was developed in collaboration with MiQ, creator of the industry standard independent audit certification for methane gas emissions. Supporting primary and secondary market trading in natural gas and related certificates from all certifiers, CG Hub creates a transparent, centralized platform for bids and offers, along with a detailed audit trail of certification details and methane emissions levels for each transaction.

"Certified natural gas is the bridge to the future of sustainability. By creating a trading platform that supports a vibrant and dynamic marketplace in certified natural gas, we believe CG Hub will play a critical role in driving market-led transformation of the natural gas industry," said Jon Olson, CG Hub Chief Executive Officer. "We're proud to welcome Seneca and Northeast as liquidity providers on the platform and we expect to be announcing more liquidity providers in the coming weeks."

Currently, approximately one-third of the total U.S. natural gas supply has been independently certified. With major producers, marketers, and buyers rapidly moving to certify their supply chains, the market for certified natural gas is expected to grow exponentially in the coming months, with certified supply commanding a price premium over non-certified natural gas. As the only trading hub for this fast-moving marketplace, CG Hub is poised to become a foundational component in the industry's transformation to certified natural gas.

"Seneca has committed to being a leader in the transition to certified natural gas, with 100% of our natural gas production certified under Equitable Origin's EO100^TM Standard for Responsible Energy Development and under the MiQ Standard for Methane Emissions Performance with an 'A' certification grade," said Justin Loweth, Seneca President. "Joining the CG Hub is the next natural progression for this exciting evolution. We look forward to rapidly scaling trading activity in our certified natural gas and certified natural gas certificates along with the team at CG Hub."

"As the first company in West Virginia to achieve an 'A' rating under the MiQ standard, we are committed to reducing methane emissions and are serious about the sustainability of our supply chain," said Mark A.T. Williams, Senior Vice President, Business Development, Northeast Natural Energy. "By participating in the CG Hub marketplace, we look forward to playing an important role in fostering an active market in certified natural gas."

"Good will and commitments to sustainability are one thing, but getting true, industry-wide buy-in for certified natural gas also requires market-driven financial incentives to do the right thing," said Georges Tijbosch, MiQ Chief Executive Officer. "CG Hub will play a key part in the commercialization of certified natural gas and we are delighted to see so many future-facing businesses working to drive change in global methane emissions." 

Eliminating oil and gas methane emissions is crucial in the fight against climate change. Methane is a much more potent greenhouse gas than carbon dioxide, and it has a much shorter lifespan in the atmosphere. Efforts to reduce methane emissions can most significantly slow climate change in the short term. These agreements demonstrate the participants' intent to reduce methane emissions and to take meaningful action on climate change.

About Seneca Resources Company, LLC:

Seneca Resources Company, LLC, is the exploration and production segment of National Fuel Gas Company. Headquartered in Houston, Texas, we explore for, develop and produce natural gas in the Appalachian Region, including the Marcellus and Utica Shales.  Visit us at nationalfuel.com

About Northeast Natural Energy

Northeast Natural Energy is a privately owned company founded in 2009 headquartered in Charleston, WV with operations focused exclusively on dry natural gas production in north central West Virginia. NNE's homegrown team of talented professionals are forward thinking and believe hard work and honest and open communications are the keys to success in West Virginia. Visit us at northeastnaturalenergy.com 

About MiQ

MiQ is an independent not-for-profit established by RMI (formerly the Rocky Mountain Institute), and global sustainability consultancy SYSTEMIQ to facilitate a rapid reduction in methane emissions from the oil and gas sector.

About CG Hub

Headquartered in Chicago with offices throughout the US, TruMarx Data Partners, Inc. is an experienced team of energy professionals with an established track record delivering powerful technology solutions, including the marketplaces COMET and CG Hub, to meet energy market challenges facing our global customers, including the measurement of specific transactional attributes required to quantify ESG goals.

SOURCE TruMarx Data Partners Inc.