Vienna, July 16, 2019 – OMV, the international, integrated oil and gas company, headquartered in Vienna, has selected the Periotheus autoTRADER for 24×7 presence in gas spot markets as part of a strategic expansion in this area. The software from VisoTech, already well established in the electricity trading market, is supporting OMV to efficiently digitalise short-term trading on the PEGAS exchange and to react instantly to changes in the market. Full integration with Periotheus Scheduling & Balancing already in use at OMV ensures reliable downstream processing of trading results without the need for an additional interface.
OMV GAS coordinates and manages OMV’s gas supply and sales activities. It also bundles the trading activities for all products, in order to ensure central portfolio optimisation all over the relevant markets in Austria, Germany and the Netherlands.
The need for speed – in every industry
In comparison to the power market, gas trading is generally less volatile – until suddenly, it isn’t. Changes in production, transport or demand can lead to dramatic short-term price changes, and a slow reaction time can translate into significant losses not just during the regular office hours but also during the night. In today’s digital world, a fully automated trading algorithm will always be faster than manual trading. Furthermore, an algorithm can trade 24×7 and can exploit market opportunities overnight, reducing and supporting operative night shifts.
The autoTRADER allows innovative customers such as OMV GAS to make smart use of their resources to take advantage of the best deals, day or night.
The autoTRADER fulfils the need for a fully automated trading solution and optimises the short-term market operations of OMV GAS. It fits into existing system infrastructure, and VisoTech’s wealth of experience in the natural gas market ensures a solution that meets the needs of OMV GAS. Full integration with scheduling and balancing processes through the underlying Periotheus Platform helps to streamline the digitalisation process. With such innovation, OMV GAS can continue to strengthen its position as market leader.
Smart optimisation and quick reaction
OMV GAS runs extensive international gas market operations comprising amongst others deliveries to end customers, gas production offtake and balancing as well as gas transport capacity and gas storage optimisation. In course of these marketing and trading activities, OMV GAS closes and settles more than 400,000 transactions per year.
In comparison to the power market, gas trading is generally less volatile – until suddenly, it isn’t.
“The autoTRADER solution allows innovative customers such as OMV GAS to rest assured that they will make smart use of their resources and, based on our many years of gas and power industry experience, will be able to take advantage of the best deals, day or night,” said Jürgen Mayerhofer, Managing Director, VisoTech.
Powerful and flexible
The Periotheus autoTRADER is Europe’s leading software solution for fully automated short-term power and gas trading, supporting spot trading on major European exchanges such as PEGAS, EPEX SPOT and Nord Pool. Using the Periotheus Platform, energy companies can automate trading as well as upstream and downstream processes such as asset management or scheduling and balancing. In addition to OMV, other industry giants, such as EnBW, Ørsted, VERBUND, STEAG and Iberdrola, rely on VisoTech’s solution.
About OMV Aktiengesellschaft
OMV produces and markets oil and gas, innovative energy and high-end petrochemical solutions – in a responsible way. With Group sales of EUR 23 bn and a workforce of more than 20,000 employees in 2018, OMV Aktiengesellschaft is one of Austria’s largest listed industrial companies. In Upstream, OMV has a strong base in Romania and Austria as part of the Central and Eastern Europe core region as well as a balanced international portfolio, with Russia, North Sea, Middle East and Africa as well as Asia-Pacific as further core regions. 2018 daily production stood at approximately 427,000 boe/d. In Downstream, OMV operates three refineries with a total annual processing capacity of 17.8 mn tons and more than 2,000 filling stations in ten countries. OMV runs gas storage facilities in Austria and Germany; its subsidiary Gas Connect Austria GmbH operates a gas pipeline network in Austria. In 2018, gas sales volumes amounted to around 114 TWh. Sustainability is an integral part of the corporate strategy. OMV is set to invest EUR 500 mn in innovative energy solutions by 2025.
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