On 16 July 2021, Gazprom Marketing and Trading, a wholly owned subsidiary of PAO Gazprom Group, the world's largest natural gas producer and exporter of gas, joined Route4Gas, bringing the total to 17.
Alexey Mileev, CEO and Founder of Route4Gas said: "We are proud that our unique solution and team expertise have led our company to the new co-operation with Gazprom Marketing and Trading. We will prove that the Route4Gas system is a beneficial tool for GM&T Group!”
Through Route4Gas, the gas market can manage portfolios more efficiently, reduce costs, and increase market opportunities while boosting liquidity. Using the Route4Gas app, participants input their overall transport, storage, and trading positions from across the entire European gas market in a single round. An algorithm then determines the possible day-ahead or weekend transactions between the traders, considering the locations of all parties involved. At the end of the calculation, the participants execute deals directly in the application. Route4Gas is ensuring automatic deals reporting to EU Agency for the Cooperation of Energy Regulators (ACER).
Route4Gas went live on 1 September 2020. So far, their customers have achieved a matching rate up to 61% per round, being active on 14 hubs.
Read the article online at: https://www.worldpipelines.com/contracts-and-tenders/01102021/gazprom-marketing-and-trading-signs-client-agreement-with-route4gas/