5 Ways Energy Components Supports Import and Export Terminal Users
Liquefied natural gas (LNG) plays a crucial role in the future of the energy transition – in fact, EQT’s Toby Rice estimates U.S. natural gas could replace one-third of the world’s coal supply by 2030. With this importance comes increased scrutiny, and the need for reliable and auditable software solutions to support complex LNG import and export terminal business processes. Quorum Software’s Energy Components portfolio is designed to support the unique needs of both import and export terminals in the following ways.
1. A secure and auditable software solution. Increased regulatory scrutiny requires import terminals to have an easily accessible and secure record of their operations, which Energy Components provides through a robust, easy-to-use platform.
2. Ensure fair implementation of third-party access regulations. Scrutiny has also resulted in regulations that enforce third-party access and ensure fair treatment of all terminal users. Infrastructure operators need to prove to their terminal users that they’re receiving fair treatment, and Energy Components helps users ensure they’re meeting every complex requirement.
3. Integration with TSOs for gas nomination. Energy Components has configurable nomination functionality that can support various regimes across the globe—daily, hourly and in various intra-day cycles. In addition, users can implement APIs for electronic data interchange (EDI) and generate sales contracts and price calculations for gas shippers.
4. Renewable-ready to handle the next generation of energy. Energy Components provides a robust platform that can handle all manner of energy sources, including both blue and green hydrogen, to allow for a seamless transition towards a hydrogen-based economy.
5. Industry best practice SaaS solutions. FSRU operators with shorter time-horizons may not have the resources or expertise to keep up with rapidly changing software. Fortunately, Energy Components requires low internal knowledge to manage the process and has a shorter time-to-value than other offerings on the market.
1. Integrated software covering both upstream and midstream domains. It’s not enough for a solution to cover only one aspect of oil & gas operations. Energy Components provides capabilities for every step of the energy journey.
2. Optimize production and fleet planning. Energy Components’ robust asset modeling and optimization capabilities enable export terminals to identify efficiency and operational gaps to make better, more informed decisions for the future.
3. Automate production operations. As the global LNG market deals with massive shifts in demand and price, Energy Components helps export terminals automate all manner of production operations to lower costs and improve profitability.
4. Manage nomination and change requests from their customers. Change requests often come through needing to be contractually agreed upon and addressed in a timely manner. Energy Components provides a single platform for users to address change requests quickly, allowing them to serve customers in a time of need.
5. Provide auditable hydrocarbon accounting to stakeholders. Increased regulatory scrutiny affects all aspects of LNG liquefication and transport – and with Energy Components, it’s never been easier to provide stakeholders with in-depth visualizations of hydrocarbon accounting.
Energy Components is Quorum’s flagship solution for integrated hydrocarbon management. It strengthens upstream and midstream businesses by offering fully integrated functionalities to support hydrocarbon accounting, integrated asset modeling, optimization, forecasting, and decision support.
Today, more than 50% of the world’s LNG is managed in solutions provided by Quorum Software, including large and commercially complex LNG import terminals in Asia and Europe, tolling and merchant-based LNG export terminals, and the largest upstream to LNG projects in the world.
Ready to secure your long-term future in the LNG business? For more information or to request a demo, visit www.quorumsoftware.com or email firstname.lastname@example.org. You can also check out Quorum's dedicated LNG content hub to see our latest thought leadership content on LNG import and export around the world.