MiQ, the not-for-profit global leader in methane emissions certification, today announced the launch of its new MiQ Registry at FLAME conference.
The new MiQ Registry has capabilities to support crude oil certificates for the first time, and it will help the market prepare for the EU’s upcoming monitoring, reporting and verification (MRV) requirements.
The new MiQ Registry marks the first time a registry of this kind has been designed to support crude oil certificates alongside gas certificates. MiQ is expected to announce the certification of a crude oil production facility in the coming weeks, further demonstrating that methane certification can apply beyond gas assets.
The MiQ Registry is a secure electronic ledger where MiQ Certificates are held throughout their lifecycle from issuance to retirement. It facilitates a market for low emissions oil and gas by providing buyers and sellers with independent, third-party verified information on methane emissions performance, while also preventing double-counting and double-issuing and ensuring the authenticity of certificates.
Georges Tijbosch, CEO of MiQ, said: “Without trusted and independent registry infrastructure, how can industry, governments, regulators, and civil society have full confidence in methane emissions reports?
MiQ’s mission is to accelerate reductions in methane emissions globally by providing trusted, independently verified information to the market, and the MiQ Registry is a fundamental part of that effort.”
The new MiQ Registry builds on its previous iteration which has been used to support the certified gas market for over five years. MiQ now certifies more than 7% of global gas supply, with around 28 billion btu of certified gas currently held on the MiQ Registry.
The new MiQ Registry has been designed to support compliance with the EU Methane Regulation, including international LNG and crude flows when combined with MiQ’s Certificate Inter-Regional Import System (CIRIS). CIRIS is a bespoke certificate tracking system combining elements from book-and-claim, trace-and-claim, and mass balancing systems.
The MiQ Registry can hold other independent, third-party verified certificates issued under different standards. In addition to MiQ Certificates, the Registry supports certificates issued under Equitable Origin’s EO100™ Standard for Responsible Energy Development. MiQ has also recently partnered with the Ammonia Energy Association for registry services.
MiQ is a not-for-profit organisation with the mission of addressing methane emissions globally. With no shareholders and no commercial stake in the outcome of any certification, MiQ’s certification system relies on independent third-party verification, and its standards are publicly available on its website to ensure transparency and accountability.