Gaznat has gone live with its Optimization solution for physical asset portfolio optimization, according to OpenLink, a global software and services business that provides trading and risk management solutions to the energy, commodities, corporate, and financial services industries.
Based in Vevey, Switzerland, Gaznat is a supplier and transporter of high-pressure natural gas to Western Switzerland. Natural gas distributors such as large industrial services around the Lake Geneva area, and private companies are among Gaznat's main clients.
An existing client of OpenLink’s IRM solution (an energy trading and risk management platform encompassing deal capture, reporting, project planning, risk management, settlement, and invoicing), Gaznat decided to select the portfolio optimization module, and is now fully live with the new functionality.
Gaznat’s initial two-year optimization horizon for its physical network includes:
- Long- and short-term procurement contracts of its natural gas supplies
- Storage of the physical gas
- Transport capacity of gas pipelines
Xavier Meyer, Gaznat’s energy trading and risk management (ETRM) manager, said, ”We are now able to model our physical network in the Optimization suite, to produce vastly more efficient scheduling based on the inter-dependencies of each asset – something that will be a great improvement and will enable us to unlock the full value of our physical assets.”
Roland Jones, managing director of the IRM Division at OpenLink, commented, “Energy assets such as power plants, storage facilities, and pipelines often represent the largest source of risk or reward within an energy portfolio, and the most forward-thinking energy companies seek to maximize the value from their assets. This means lowering costs through more efficient operation, and increasing revenue from trading around each asset’s constraints and opportunities, typically resulting in a 1–3% efficiency gain. We are delighted to support Gaznat in its drive for increased value.”