Naftogaz Selects Pioneer Solutions Energy Trading and Risk Management System

KYIV, Ukraine, May 5, 2020 /PRNewswire-PRWeb/ -- Pioneer Solutions LLC announced today that NJSC Naftogaz of Ukraine, a vertically integrated state-owned oil and gas company, has selected its TRMTracker Energy Trading and Risk Management (ETRM) system, supporting Naftogaz' wholesale gas trading in the Ukraine and European Union.

National Joint Stock Company Naftogaz of Ukraine is a vertically integrated oil and gas company engaged in full cycle of operations in gas and oil field exploration and development, production and exploratory drilling, gas and oil transport and storage, supply of natural gas and LPG to consumers. Aside from purely commercial operations, the Company plays an important social role and supplies natural gas to households, budget-funded institutions and utilities at prices set by the state. With over 8 Billion euro in revenues, Naftogaz is a major Ukrainian employer with 68,386 employees (as of 2018).

"In order to increase control, efficiency and effectiveness of gas sales operations, improve commercial risk management and quality of commercial decisions, Naftogaz decided to implement a state-of-the-art ETRM system", said Svetlana Ragulina, the Head of Integrated Gas Project Management Office at Naftogaz. "Pioneer's TRMTracker is a "live" real-time and highly flexible ETRM system, delivering intuitive workflow, innovative reporting, and industry-leading integration capabilities. That's exactly what we were looking for to meet our important goals of automating our manual processes and procedures and enable users to operate in a single environment thereby reducing operational risk."

Voted Best Front Office software, Best Middle Office Software, and Best Integration Capability in this year's Energy Risk Software Rankings, TRMTracker offers a comprehensive and scalable software solution for energy trading and risk management, supporting the entire trading cycle from trade capture and contract management, to pricing and complex fees, options, cascading of futures, trade confirmations, portfolio management and valuations, risk controls, collateral and credit management, to settlement, and regulatory compliance reporting. TRMTracker is able capture both physical and financial deals for all asset classes and commodity types.

"We are delighted to welcome Naftogaz to our growing customer base," said Hugo Stappers, Director of Sales & Marketing EMEA at Pioneer Solutions. "With Pioneer Solutions as a partner, commodity and energy trading firms have the opportunity to reinvent themselves, transforming their traditional business model to an intelligent enterprise by leveraging Pioneer's next generation C/ETRM solutions. We look forward to supporting Naftogaz during this journey of transformation and digitalization."

About Pioneer Solutions

Pioneer Solutions is a global provider of C/ETRM, environmental management and financial and regulatory compliance solutions. Serving utilities and trading companies across the globe, Pioneer's Suite of flexible software applications deliver easy-to-use and integrated functionality for Trade Capture, Position Analysis, Portfolio Management, Risk Reporting and Settlement, thereby providing the insight and granularity to manage operations optimally. Our pioneering and award-winning software offers a user-configurable environment and designed for rapid deployment resulting in a lower total cost of ownership and enhanced customer satisfaction.

SOURCE Pioneer Solutions