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07 August 2019 5 min read

Baringa Partners supports JERA Global Markets implement LNG Trading and Risk Management System

Brynne Parker

Brynne Parker
Partner | Energy, utilities and resources | London

Baringa Partners has supported global Seaborne Energy Trader, JERA Global Markets, (JERAGM) with a successful go-live of a new LNG Trading and Risk Management System (Allegro Horizon) to allow it to optimise and trade its global LNG portfolio.

We are hugely proud to confirm the successful go-live of the Allegro Horizon ETRM system for JERA Global Markets’ global LNG portfolio. This has been the culmination of a programme that started with Baringa working with JERAGM to consider IT landscape options including a potential new ETRM system. Together we then ran a competitive process to select the best-fit ETRM system in the market across a number of key criteria.

The project had to hit a challenging deadline to facilitate the creation of JERAGM as it merged the LNG portfolios of its Joint Venture shareholders (JERA and EDF Trading). Following the system selection, a joint JERAGM, Baringa and Allegro team designed and delivered the new system and migrated the LNG portfolio from the shareholders’ organisations. Baringa also supported the business readiness workstream to ensure the business changes were delivered on time. This culminated in a successful go-live on Sunday 31st March 2019.

JERA Global Markets is a leading utility-backed seaborne energy trader specialising in LNG, Coal and Freight with a platform to trade across all key markets (North America, Europe, Middle East, Africa and Asia). JERA Global Markets is jointly owned 66.67% by JERA (through JERA TI) and 33.33% by EDF Trading.

The Baringa team was led by Brynne Parker, Partner, Energy & Resources, with Chris Walters leading the ETRM IT workstream and Christian Dose leading the LNG Business Integration workstreams, working closely with JERAGM’s leadership teams in Singapore and London.
 
Brynne Parker, Partner, Baringa Energy & Resources said, "We are proud to have been JERAGM’s transformation partner on this journey and to have delivered one of the industry’s most successful LNG ETRM projects. We had to mobilise a team across Singapore and London to fit around JERAGM’s business and ensured our client had an on-time and on-budget delivery to enable their JV to be a success. We are grateful for the opportunity they gave us to act as a key advisor and partner in this process.”

Ronan Lory, Chief Operating Officer JERAGM, said, “The choosing and implementation of a new Energy Trading and Risk Management system is obviously critical for an asset-backed commodity trader like JERA Global Markets. We are very happy to have gone through a successful program to set-up Allegro Horizon for our LNG Trading activities and we want to thank our integration partner Baringa for their hard work in making sure we achieved this key milestone on time and on budget. Alongside our highly skilled trading teams and access to our shareholders’ and third party customers’ key physical assets this puts us on track to become a leading global seaborne energy trader”

Usman Khan Head of IT JERAGM said, “The Baringa team did an excellent job both in the ETRM selection process and in the implementation of the system against a very tight timeframe. Their level of commitment and support throughout was exemplary and I’m pleased with the relationship we have established with Brynne and his team as we move into the second phase of the delivery programme.