LONDON, July 22 /PRNewswire/ --
- World's Largest Gas Company Using Ventyx Market Analytics Software and Advisory Services to Guide Investment and Operations
Ventyx(TM), the world's largest private software provider to the energy and utility industry, today announced a new contract with Gazprom Marketing & Trading, a subsidiary of the world's largest gas company, for market analytics software and advisory services to help the company continue its growth in Europe.
Gazprom possesses the world's largest natural gas reserves, as well as the world's largest gas transmission system through which the company exports gas to 32 countries. Gazprom has reliably supplied gas to Europe for 40 years. The company is also building its activities in commodities beyond natural gas, by developing its power generation, LNG and carbon trading capabilities. As a major supplier of fuel to the power generation sector, Gazprom is actively investing and expanding its partnerships in this sector.
In order to help the company achieve its goals, Gazprom signed a contract with Ventyx to acquire multiple licenses for its industry-leading Market Analytics software (http://www1.ventyx.com/analytics/market-analytics.asp). The Ventyx Market Analytics software provides a total solution for fundamental market modelling, transmission and generation analysis and forecasts of prices for energy, ancillary services and capacity markets around the world. The software is supplemented by Ventyx's unique simulation-ready databases which contain Ventyx's latest 25-year European energy market outlook, at power station unit-level detail. With Market Analytics, Gazprom can better interpret the key drivers (e.g., deregulation and liberalisation impacts, energy policy, environmental legislation, capacity expansion plans, etc.) that shape the markets into which it wishes to diversify, and also perform fast sensitivity and stochastic analysis.
The Gazprom contract complements the company's software licenses with extensive Energy Advisory services. Through these services Ventyx combines leading solutions and the most experienced team of professionals in the industry to help clients improve their operational and financial performance. Among the components included in the advisory services is Ventyx's European Reference Case, which provides a detailed energy market outlook for the next 25 years. Ventyx's reference cases, which are updated on a semiannual basis, contain Ventyx's independently formed, detailed price forecasts for key European energy markets, including wholesale electricity, carbon, natural gas, fuel oil, coal and, for the UK market, a renewable obligation certificate (ROC) price forecast. The reports give Ventyx's latest views on key market issues, market restructuring, new plant entry and retirements, transmission interconnections and emissions. Ventyx's reference cases are a standard of the industry used by ratings agencies, utility regulators, market competition commissions, energy companies, utilities and their investors as a source of independent, transparent, consistent analysis of changing energy market fundamentals, wholesale expected prices and how they are formed.
"We have expressed an interest in the power generation sector in Europe, and this technology will assist us in our market analysis," said Vitaly Vasiliev, CEO of Gazprom Marketing & Trading. "Our goal is to trade in a variety of energy commodities and to get close to the downstream customer, which is consistent with Gazprom's aim of becoming a leading global energy player. The software will help us to analyse market opportunities which may help to achieve our business objectives," he added.
"This contract with Gazprom further proves that the world's leading energy companies trust Ventyx to help them optimise their operational and financial performance with our innovative applications of technology backed by the industry's deepest domain expertise," said Ventyx President and CEO Vince Burkett. "Ventyx holds the largest market share of energy analytics solutions users worldwide, and we continue to grow our leadership as we partner with companies such as Gazprom to grow theirs."
Gazprom is the world's largest gas company basically focused on geological exploration, production, transmission, storage, processing and marketing of gas and other hydrocarbons. The state owns a 50.002 per cent controlling stake in Gazprom. Gazprom's mission is to provide effective and well-balanced gas supply to Russian customers and to safely implement long-term gas export contracts. Its strategy is to acquire the leading position among the global energy companies by entering new markets, diversifying core business activities and ensuring reliable supplies. For more information visit http://www.gazprom.com/
Ventyx is a leading business solutions provider, delivering asset management, mobile workforce management, customer care, energy trading and risk management, energy operations, and energy analytics solutions and advisory services to more than 900 energy, utility and communications customers, as well as to asset-intensive customers in selected commercial markets. With approximately 1,200 employees in more than 20 locations worldwide, Ventyx delivers best-of-breed business solutions that maximize operational and financial performance, backed by the industry's deepest available industry-specific domain expertise. For more information, visit our Website at www.ventyx.com
Ventyx is a trademark of Ventyx Inc. Other company and product names may be trademarks of the respective companies with which they are associated.
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