|Allegro Provides Energy Trading & Risk Management Solution to PAA Natural Gas Storage|
Allegro Platform to Support Business Growth and Increase Productivity
DALLAS, TX, April 12, 2011 - Allegro Development Corporation (“Allegro”), a leading provider of energy trading and risk management (ETRM) software, announced today 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.
PNG selected a single transaction management system to streamline and improve the efficiency of their business processes. Allegro 8 is designed to provide the following benefits:
About Allegro Development
Allegro is a global leader in energy trading & risk management solutions for power and gas utilities, refiners, producers, traders, and commodity consumers. With more than 29 years of deep industry expertise, Allegro’s enterprise platform drives profitability and efficiency across front, middle, and back offices, while managing the complex logistics associated with physical commodities. Allegro provides customers with agile solutions to manage risk across natural gas, power, coal, crude oil, petroleum products, emissions, and other commodity markets, allowing decision makers to hedge and execute with confidence. Headquartered in Dallas, Texas, Allegro has offices in Calgary, Houston, London, Singapore, Sydney, and Zurich, along with a global network of partners.
For further information please contact Samantha Johnston at email@example.com or +188.8.131.5249.