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Wednesday, April 6, 2022
ION Commodities, a global leader in energy and commodity management solutions, announces that Linetrale LLC has selected ION’s commodities trading and risk management solution Aspect. With Aspect’s market coverage, Linetrale LLC will be empowered to achieve its goal of becoming a global supplier of liquified natural gas (LNG).
Recent geopolitical events and the continued push for energy transition is drawing investment interest in LNG, particularly in Africa. Europe is actively looking for an alternative supply to Russian pipeline gas while avoiding the use of fossil fuels with higher carbon emissions, such as coal and oil. With core experience in trading LNG and natural gas liquids (NGL), Linetrale LLC – one of the leading energy trading house in West Africa – views the new drive towards low carbon fuels as fundamental to its global trading strategy.
“Being the fastest growing hydrocarbon, LNG demand is expected to rise 25–50% by 2030. Our aim was to select a technology solution that will help us meet the increasing demand. With Aspect, we can implement sophisticated strategies in-house, bring order to our operations, and prepare to scale our business” said Chinedu Nwokedi, Managing Director at Linetrale LLC.
This aligns with Linetrale’s ambition to maintain its market leading position as the demand for LNG grows. “Having established a reputation as one of the most respected energy businesses in Africa,” said Nwokedi. “We want to work with trusted partners that understand what we do and have the industry expertise to enable our participation in the global gas market exporting Nigerian natural gas via LNG.”
Linetrale LLC selected Aspect, a software as a service (SaaS) solution, for its out-of-the-box LNG and oil trading, risk management, end-to-end processing, and reporting capabilities. With Aspect, Linetrale’s trading business will use data to unlock business insights and more efficiently mitigate risk, enabling Linetrale LLC to maintain a competitive edge in today’s volatile and increasingly complex market.
Richard Grossi, CEO of ION Corporates, said, “We are pleased to welcome Linetrale LLC to the ION Commodities community and to support their ambition of becoming a global supplier of LNG. As the market addresses the need for increasing demand, we are excited to partner with Linetrale LLC to address the complexities of managing the LNG supply chain through the use of our ION Aspect solution.”
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