Our Year in Review
Nearly five years ago, Equitrans Midstream was launched as a standalone, publicly traded company and, since that time, we have been working to be resilient and to appropriately position Equitrans to thrive in any environment, including the global progression to a lower-carbon future. We are proud to pursue safe and innovative solutions that are essential for our Nation’s energy reliability, independence, and security, and we firmly believe that natural gas is, and will remain, a critical component of the overall energy landscape.
With a vision to be one of North America’s premier midstream services companies, we recognize, and appreciate, that our stakeholders expect us to continue focusing on long-term sustainable performance by managing the environmental, social, and governance (ESG) factors that matter most. We embrace the importance of conducting business in a socially responsible and ethical manner — respecting our employees, communities, and business partners — and we believe that our continued focus on sustainability initiatives, over time, will create value and distinctly position Equitrans for success.
Since our launch as a standalone company, we have been working to be resilient and to appropriately position Equitrans to thrive in any environment, including the global progression to a lower-carbon future.
During 2022, we continued to pursue improvement in several ESG performance areas, such as:
- Adopting a formal Environmental Justice Policy to expand our project outreach efforts beyond regulatory requirements and conducting mandatory, Companywide training during early 2023
- Submitting our first voluntary CDP water security questionnaire, for which we received a score of ‘B’
- Expanding efforts to reduce methane and GHG emissions, such as converting 10 compressor sites from high-bleed pneumatics to low-bleed or air pneumatics, in addition to the 10 sites we converted in 2021
- Providing corporate local giving donations and Equitrans Midstream Foundation grants totaling more than $1,710,000 to various organizations, the majority of which aligned with select UN SDGs
- Modifying our executive oversight structure, such that our CSO reports directly to Equitrans' CEO, further underscoring our belief in the importance of our ESG and sustainability efforts
- Renaming certain Board committees to highlight the Company’s emphasis on sustainability and to better convey oversight of diversity and inclusion and workforce culture
- Joining other industry participants, in early 2023, as a founding member of the Appalachian Methane Initiative to further enhance methane monitoring throughout the Basin and facilitate additional methane emission reductions in the region
While we acknowledge our achievements over the past year, we remain committed to transparency in the areas where we still have room to improve. In November 2022, Equitrans Midstream was notified of an incident at our Rager Mountain Storage facility, located in a remote area of Cambria County, Pennsylvania. While there were no injuries reported, no mandatory evacuations of property owners, and no immediate public safety concerns, we acknowledge the seriousness of this incident and the concerns raised by those living in nearby communities. Since resolving the emergency aspects of the incident, an independent full root cause investigation has been ongoing, and Equitrans will continue to inform the respective state and federal agencies of its activities and findings, including as it works to return the field to injection operations. We take our responsibility very seriously, and it is our goal to manage all of our assets safely and responsibly. This includes making things right when something goes wrong. In the spirit of transparency, you will find detailed discussions related to the Rager Mountain incident in several sections of this report.
Equitrans is proud to continue safely moving America’s critical energy resources, and we remain committed to responsible operations that will protect the health of our employees, contractors, and communities and safeguard the environment — always. We are pleased to share our 2023 Corporate Sustainability Report and look forward to continuing our vision for achieving a safe, sustainable, and resilient future.
Diana M. Charletta
President and Chief Operating Officer