Driving Sustainability Leadership
Energy is critical to modern life and nearly 775 million people worldwide lack access to electricity and other forms of energy — a number that continues to increase according to the International Energy Agency. Chesapeake is proud to be part of the energy security solution, providing affordable, reliable, lower carbon energy, domestically and abroad. As part of operating responsibly and serving as good community partners, it is our goal to reduce our environmental footprint with a holistic approach to sustainable performance and increase our social impact in our communities.
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Natural Gas is Essential to Quality of Life
Power generation, residential consumption and feedstock sources are among natural gas’ most common uses, but the energy source also makes up many products critical to our modern life and the health of American industry.
Natural gas demand is expected to rise materially over the next several years. In the U.S., growing markets of data centers and artificial intelligence (AI) tools are requiring more electricity, and power generators are increasingly looking to natural gas to supply the base load.
American Natural Gas Will Fuel the Global Market
The U.S. is now the world’s leading producer of natural gas with a minimum 100-year supply. Many countries, particularly those in eastern Europe, are counting on the U.S. to respond to geopolitical uncertainty. In addition to increasing global energy security, importing U.S. natural gas (as liquefied natural gas or LNG) has the potential to modernize energy infrastructure and reduce global CO2 emissions by displacing higher carbon fuels.
In 2022, the U.S. announced a commitment to dedicate ~50 bcm of U.S. LNG export to Europe through 2030. In December 2023, approximately 61% of LNG exports were delivered to European countries. Asia was the next closest recipient, receiving approximately 26% of U.S. LNG exports.(1)
Chesapeake is LNG Ready
With our deep, proven inventory, Chesapeake’s assets are well-positioned to supply LNG to meet growing global energy needs. Our premier natural gas portfolio offers favorable market access — and the potential capacity to mitigate natural gas price volatility and increase energy access and reliability.
(1) Reuters, “U.S. was Top LNG Exporter in 2023 as Hit Record Levels.” Jan. 3, 2024.
(2) Energy In Depth, “U.S. Natural Gas Could Play Key Role in Reducing World Energy Poverty.” Nov. 27, 2018.
Our Sustainability Progress
Our sustainability journey reinforces the progress we have made, both since our company’s founding in 1989 and emergence from bankruptcy in 2021. We used bankruptcy as a fundamental reset, being intentional about our ESG commitments to shape our sustainable future.
We will build upon this foundation as our company expands to establish the industry’s premier natural gas portfolio, meeting growing domestic and international demand. Read more about Chesapeake and Southwestern’s merger to accelerate America’s energy reach.
