“Max Midstream is entirely committed to environmental sustainability and its relevance in the energy transition,” said Jon Novitsky, CEO of Max Midstream. “This agreement with Macquarie and our first retirement of offsets is just one of the first steps in our ESG journey. Offsetting is a practical step we could execute immediately as we build to our other planned activities, and we appreciate Macquarie’s expertise and guidance.”
Max Midstream is committing to making its terminal operations 100% carbon-neutral. It has designed and invested in a combination of operational efficiency improvements and tank designs to reduce emissions associated with the movement and storage of hydrocarbons.
The arrangement agreed with Macquarie also enables Max Midstream to provide carbon offsetting and lifecycle carbon accounting services to its customers, thus allowing its crude buyers to offtake ‘carbon-neutral’ or ‘carbon offset’ crude from Max Midstream’s Seahawk Terminal. The offsets will be provided by contractually bundling crude with voluntary carbon offsets supplied and retired by Macquarie from projects as desired by Max Midstream’s customers.
