Linetrale LLC selects ION Commodities to manage its West Africa LNG trading business
LONDON, April 5, 2022 /PRNewswire-PRWeb/ -- 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).
Linetrale LLC selected Aspect for its out-of-the-box LNG and oil trading, risk management, end-to-end processing, and reporting capabilities.
LONDON, April 5, 2022 /PRNewswire-PRWeb/ -- 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."
About ION
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/.
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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 to use real-time risk analytics and reporting, 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 Linetrale LLC
Founded in 2006 and headquartered in Lagos-Nigeria, Linetrale LLC is an energy and commodity trading house that trades across the oil and gas hydrocarbon value chain. Specializing in Liquefied Natural Gas (LNG), Linetrale LLC also covers other energy commodities including Liquefied Petroleum Gas (LPG), Natural Gas Liquids (NGL) Condensates, Naphtha, Crude Oil, Gasoline, Middle distillates, and Fuel Oil. Linetrale LLC has market presence in Africa, Europe, Asia, and the Caribbean regions; and continually seeks to expand to new regions to reinforce its position as one of the major suppliers of clean transition fuels in the African and global market. For more information, visit: https://linetrale.com/
Media Contact
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SOURCE ION Commodities
