KINETREX ENERGY CHOOSES ALLEGRO'S CTRM PLATFORM TO MANAGE NATURAL GAS TRANSACTIONS
Fast-growing gas trading company gains efficiency and reduces risk, while going live in eight weeks.
DALLAS, June 6, 2017 – Allegro Development Corp., a leading provider of commodity trading and risk management software, announced today that its platform has been chosen by Kinetrex Energy, an Indianapolis-based natural gas producer and seller, to manage its natural gas transactions and enable the ongoing expansion of its business.
Kinetrex, which supplies customers with natural gas from pipelines, along with providing liquefied natural gas and renewable natural gas, previously had been using spreadsheets for many of its requirements. However, it had become clear that a comprehensive and dedicated solution would be needed to fully capture and record the complex deals in which the company was involved. Because Kinetrex was taking part in a larger number of transactions, with an ever-growing list of counterparties, the leadership team realized they couldn’t continue relying on their spreadsheet-based approach if they were to maintain accuracy and transparency.
As a result, Kinetrex turned to Allegro. Already in place at many Kinetrex key counterparties, Allegro software now manages many of the company’s deal-capture needs, while simplifying its middle and back office functions, including aiding in risk management, settlement and invoicing.
Owing to Allegro’s 30-plus years of experience, and a “built for your business” packaging and implementation approach, Kinetrex was able to go live in just eight weeks.
Stephen Miner, Gas Supply Portfolio Manager, Kinetrex Energy:
“We looked for an all-inclusive system, so we were trying to find one where we could do the billing, risk management, deal-capture and accounting all in one package. We liked the fact that, with Allegro, we could start with a few modules and quickly get up and effective. Then, as we get bigger and more complex, we could add in other functions as we grow.”
Frank Brienzi, CEO, Allegro Development:
“Kinetrex made the determination that our CTRM platform represented the best way forward for their business, because in today’s natural gas market, spreadsheets can only do so much. At Allegro, we have the leading platform for natural gas and LNG transactions, and we have years of valuable experience working with natural gas companies and helping them to optimize their operations. Once we demonstrated to Kinetrex how we could enhance their entire enterprise, both their team and ours knew we were forming a tremendous and productive relationship.”
Kinetrex Energy is the leading supplier of liquefied natural gas (LNG) in the Midwest and operates two significant LNG production facilities located in Indianapolis. The company designs, markets and implements a portfolio of LNG, pipeline natural gas and renewable natural gas energy solutions for customers in the transportation, commercial, industrial, agricultural and power markets. For more information, visit www.kinetrexenergy.com.
Allegro develops and markets integrated commodity management software for companies who buy, sell, produce or consume commodities. For over 30 years, Allegro has delivered position visibility, risk management, comprehensive controls and regulatory compliance through its forward-compatible, next-generation architecture. Headquartered in Dallas, Allegro has offices in Calgary, Dubai, Houston, Jakarta, London, Singapore and Zurich, along with a global network of partners. For more information on Allegro, visit www.allegrodev.com.
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