VNG Deploys New Energy Trading and Risk Management (ETRM) System
Leading German Natural Gas Company Manages Trading Operations with Allegro 8
LEIPZIG, Germany--(BUSINESS WIRE)--VNG – Verbundnetz Gas Aktiengesellschaft (VNG) has successfully started utilizing Allegro 8 to capture, value and settle natural gas trades.
“Our primary objective was to select a system that would support our current and future activities in natural gas trading in order to improve our business visibility and optimize risk management and reporting. We were looking to increase efficiencies in terms of the management of our natural gas trading activities”
VNG selected Allegro to manage trading activities for physical gas supplies and financial commodity hedges, which have gained increasing importance over recent years. The new system supports the company’s operations in all energy trading business processes, including deal capture, confirmations, settlement, positions and risk management.
“Our primary objective was to select a system that would support our current and future activities in natural gas trading in order to improve our business visibility and optimize risk management and reporting. We were looking to increase efficiencies in terms of the management of our natural gas trading activities,” said Marco Penzhorn, Head of Trading at VNG.
VNG and Allegro plan to cover the market-oriented management of the overall portfolio of VNG in the next phase of system implementation.
Allegro is a leading provider of commodity value chain and risk management (CVCRM) software for power and gas utilities, refiners, producers, traders and commodity consumers. With more than 30 years of deep industry expertise, Allegro provides real-time intelligence and decision-making capabilities, from the source of the commodity (ground), through transportation, to the commodity consumer. Allegro’s software provides the global intelligence companies need to manage physical and financial positions, and to optimize their assets and portfolios using tools that quantify and mitigate risks. Headquartered in Dallas, Texas, Allegro has offices in Calgary, Houston, London, Singapore, Sydney and Zurich, along with a global network of partners. For further information please contact Claire Peel at +44 (0)2073824341.
VNG – Verbundnetz Gas Aktiengesellschaft (VNG) is one of Germany's leading natural gas importers, wholesalers and energy service providers with headquarters in Leipzig. VNG is a company within the VNG Group that is active throughout the value chain of the German and European natural gas industry and focuses on the four key business areas of exploration & production, trading & services, transport, and storage. With more than 50 years of experience, the VNG Group makes a key contribution to ensuring secure supplies of natural gas. The Group employs some 1,400 people and recorded sales of €9.9 billion in 2012. Further information is available at www.vng.de.