To enable the registering of transactions between companies in the global natural gas sector, Israel’s PZ Projects is launching a novel software platform.
Various leading local players active in the gas market have tested the platform over a two-year period, allowing gas sector players to list their proposals for selling or buying natural gas, while fully documenting the trade through the new system.
As part of upgrading and maintenance agreements, the platform is based on the sale annual licenses of the software programme, and customises the programme in accordance with its customers needs.
According to energy experts, if the current trend continues, natural gas will be the leading source of energy in the world by 2050; the demand for gas is the fastest growing form of energy in terms of both production and consumption.
CEO at PZ Projects, Carmi Zinger, said: “Up to now transactions in the natural gas market were conducted and registered through a manual and unofficial process based on personal contacts over the phone, using email and numerous pages of Excel documents.
“This form of trading typically permitted only two-sided trading between two parties. This will open the door to a much freer, more competitive and sophisticated market in the gas sector.”
Written from press release by Leah Alger