Doing my normal clone backup of a new Seagate 2 Tb to a slightly older Seagate 1 Tb I got the error:

Page fault at eip=002e974f, error =0004

.... plus some additional data where the Ghost program wanted to send a report to the A: drive (non existent.)
It occurs way down toward the end of the job and after 5 hours. This Ghost program is old but has always been serviceable.

The clone job has succeeded to some of the older
backup disks I have.

If the 1 Tb Seagate is in warranty is the page fault considered a failed disk?

No.

You should run the Seagate Diagnostics tool to determine if it a faulty disk for effects of warranty.

But it also may be that the size of the backup of your 2tb disk exceeded space in the 1tb disk. Or other problems with the old version of Ghost