Source: Allegro Development Corp.
Allegro Development Corporation, a leading provider of energy trading and risk management (ETRM) software, announced that PAA Natural Gas Storage, L.P. (PNG) has selected the Allegro 8 platform to manage the hedging activities for its natural gas optimization group. Allegro’s enterprise solution will support PNG’s hedging, scheduling, inventory, risk management, credit and settlement activities as the company expands its business.
PAA Natural Gas Storage, L.P., a subsidiary of Plains All American Pipeline, L.P., provides natural gas storage services to a broad mix of customers, including electric utilities, local distribution companies, pipelines, natural gas producers, LNG importers, aggregators, marketers, and industrial and commercial end users. PNG currently owns and operates three natural gas storage facilities in Louisiana, Mississippi and Michigan.
“We believe that Allegro ETRM, which can scale with the future growth of our business, offers a comprehensive natural gas solution which will enable a streamlined implementation and solid return on our investment. As PNG grows its asset base and our volumes increase, we need a fully integrated platform and tools that enable optimal decision making,” said Alfred Lindseth, Plains All American Pipeline, L.P.’s Senior Vice President, Technology, Process & Risk Management.