Golden Pass LNG’s selection is a testament to ION’s proven success in delivering solutions to energy and commodity-intensive businesses.
HOUSTON, July 21, 2022 /PRNewswire-PRWeb/ — ION Commodities, the global leader in Energy and Commodity management solutions, is delighted that Golden Pass LNG, owned by affiliates of QatarEnergy and Exxon Mobil Corporation, has selected ION Openlink to manage its physical and financial natural gas and liquefied natural gas (LNG) portfolio needs.
Golden Pass LNG is implementing ION’s Openlink commodity management solution ahead of commencing operations of its liquefaction terminal in 2024. The company’s goal is to create a highly automated transaction processing backbone and provide advanced decision support to its commercial personnel. ION Openlink was selected for its ability to support complex trading models and scale to support anticipated business growth in the years ahead.
ION Openlink accommodates the evolving business needs of LNG traders, liquefaction plant owners, and LNG capacity owners. It manages their positions, contracts, and optionality throughout the value chain including the modelling of liquefaction and regasification processes. Openlink equips businesses with real-time risk analytics and reporting used to minimize supply chain risks, automate critical business processes, and make faster, more informed decisions.
Richard Grossi, CEO of ION Commodities, said, “In today’s competitive commodity and energy markets, businesses need to uncover new trading opportunities and reduce risks. ION Openlink helps large energy and commodity-intensive businesses achieve this on a single platform in real time, while reducing costs. We’re proud to be at the forefront of the sector and pleased to welcome Golden Pass LNG to our ION Commodity community.”
This new partnership between ION Commodities and Golden Pass LNG, is an example of the growing LNG community looking to ION for solutions with its successful track record of delivering similar solutions at other major LNG companies.
ION provides mission-critical trading and workflow automation software, high-value analytics and insights, and strategic consulting to financial institutions, central banks, governments, and corporates. Our solutions and services simplify complex processes, boost efficiency, and enable better decision-making. We build long-term partnerships with our clients, helping transform their business for sustained success through continuous innovation. For more information, visit https://iongroup.com/.
About ION Commodities
ION Commodities delivers data-driven energy and commodities trading and risk management solutions across the supply chain. Our scalable ETRM and CTRM solutions equip clients with real-time risk analytics and reporting, which minimize supply chain risks, automate critical business processes, and make faster, more informed decisions. We provide full support and transparency for procurement, supply, and trading to a global community of over 1,200 clients. For more information, visit https://iongroup.com/commodities/.
About Golden Pass LNG
Golden Pass LNG, owned by affiliates of QatarEnergy (70%) and Exxon Mobil Corporation (30%), is constructing a project to add liquefaction and export capabilities to its existing liquefied natural gas terminal in Sabine Pass, Texas. Golden Pass LNG constructed and has operated the existing LNG import facility and distribution pipeline since 2005. For more information, visit https://goldenpasslng.com/
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