Gazprom signs Ventx for market analytics software

Software and ‘simulation-ready’ database to support Russian gas major’s European expansion.

Ventyx, of Atlanta, GA, is to provide its market analytics software and services to Russian gas behemoth Gazprom’s Marketing and Trading unit in support of continuing European growth plans. The deal covers multiple licenses for Ventyx’ Market Analytics package—a ‘total solution’ for market modeling, transmission and generation analysis. Ventyx Market Analysis also provides forecasts of energy prices, ancillary services and markets around the world.

A ‘simulation-ready’ database contains Ventyx’s 25-year European energy market outlook down to power station unit-level detail. Gazprom is to use the toolset to model the impact of key market drivers including deregulation and liberalization, energy policy, environmental legislation and capacity expansion plans across target markets for diversification. Ventyx Energy Advisory service team will assist Gazprom improve operational and financial performance.

Vitaly Vasiliev, CEO of Gazprom Marketing and Trading said, ‘We have an interest in the European power generation sector and this technology will assist us in our market analysis. Our goal is to trade in a variety of energy commodities and to get close to the downstream customer, in line with our aim of becoming a leading global energy player.’

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