EQT, together with its peers in the
Appalachian Regional Clean Hydrogen Hub, have advanced to Phase 1
Award Status from the U.S. Department of Energy
PITTSBURGH, July 31,
2024 /PRNewswire/ -- EQT Corporation (NYSE: EQT)
today announced that its strategic plans to produce clean hydrogen
and low carbon aviation fuel (LCAF) from its low emissions
Appalachian natural gas will advance into Phase 1 planning
following the execution of a cooperative agreement between the
Appalachian Regional Clean Hydrogen Hub (ARCH2) and the U.S.
Department of Energy (DOE) Office of Clean Energy Demonstrations
(OCED).
The agreement unlocks $30 million
in initial funding for ARCH2 projects in Phase 1 from a potential
$925 million that may be distributed
in future phases, as designated by the Bipartisan Infrastructure
Law, which establishes an investment of up to $7 billion for the Regional Clean Hydrogen Hubs
(H2Hubs) Program. Phase 1 will encompass initial planning, siting,
permitting, community engagement and analysis activities to ensure
the Hub and its projects are technologically and financially
viable, with input from local stakeholders.
EQT plans to construct and operate a clean hydrogen production
facility to convert natural gas into hydrogen-rich syngas via
autothermal reforming, and then into LCAF and other liquid fuels.
Hydrogen will also be purified from the syngas and used for fuel
cell vehicles or blending to gas distribution lines. The project
location is still under consideration.
"The advancement of ARCH2 enables EQT and our region to lead the
next generation of natural gas by kickstarting a clean hydrogen
economy that deploys innovative, commercial-scale technologies,
promotes the growth of our economy and improves the environment by
decarbonizing hard-to-abate industries that lack affordable,
scalable solutions," said Toby Z.
Rice, President & CEO of EQT Corporation.
Rice continued, "But the backdrop of this milestone is just as
important as our path forward. Our vast supply of affordable,
low-emissions Appalachian natural gas, underpinned by the
innovation, grit and reliability of our region's workforce, has
driven our nation's climate progress for decades. In the past five
years alone, EQT has increased production by 50 percent and
reduced our legacy Scope 1 and 2 production emissions by nearly 70
percent. Natural gas is – and will continue to be – the answer to
the world's call for cheaper, more reliable, more affordable
energy."
Media Contact:
Courtney
Loper
Head of Government Relations and Public Affairs
Courtney.Loper@eqt.com
202.744.3255
About EQT Corporation
EQT Corporation is a
leading independent natural gas production company with operations
focused in the Appalachian Basin. We are dedicated to responsibly
developing our world-class asset base and being the operator of
choice for our stakeholders. By leveraging a culture that
prioritizes operational efficiency, technology and sustainability,
we seek to continuously improve the way we produce environmentally
responsible, reliable and low-cost energy. We have a longstanding
commitment to the safety of our employees, contractors, and
communities, and to the reduction of our overall environmental
footprint. Our values are evident in the way we operate and in how
we interact each day – trust, teamwork, heart, and evolution are at
the center of all we do. To learn more, visit eqt.com.
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SOURCE EQT Corporation
