Energy Efficiency, GHG Emissions, Industrial  -  June 6, 2023

Crestwood Equity Partners’ Methane Emission Rate Falls

Crestwood Equity Partners LP achieved a 5% reduction in its methane emissions intensity rate from 2021 levels and a 58% reduction since 2018. 

A master limited partnership that owns and operates midstream businesses in multiple shale resource plays, the company focused on integrating its recently acquired assets into its existing assets and operations in the Williston and Delaware Basins in 2022 and incorporating the combined assets into a new company-wide carbon management plan. The company’s GHG emissions increased in 2022 due to the acquisitions of new gathering, compression and processing assets.

The company also made advancements in its continuous methane monitoring pilot and installed devices on 13% of its assets in 2022 to increase methane detection. 

Crestwood is committed to the installation of state-of-the-art emissions monitoring on 40% of its assets by the end of 2023 and continuous improvement in carbon management practices.

In alignment with the Task Force on Climate-related Financial Disclosures (TCFD), the company considers both physical and transition risks. In 2022, Crestwood engaged a third party to conduct a TCFD-aligned physical risks assessment of its top revenue-generating assets.

Details were included in its 2022 sustainability report. 

“We are proud to share our ESG advancements in Crestwood’s fifth annual sustainability report as we continue our authentic approach to delivering energy responsibly while executing a regional midstream consolidation strategy that included a series of strategic portfolio realignment transactions. Throughout these acquisitions and divestitures, we remained focused on progressing our ESG goals,” said Robert G. Phillips, Founder, Chairman and CEO of Crestwood’s general partner in a statement. "Crestwood proactively integrated ESG risks into our transaction underwriting process through the creation of a comprehensive ESG due diligence risk register. Additionally, we developed a carbon acquisition/divestiture protocol to effectively manage emissions associated with acquisitions and divestitures, reflecting our unwavering commitment to reducing our GHG emissions intensity rate while responsibly growing our business."

Read These Related Articles:

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• Crestwood cuts emissions intensity by 2%

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