(unedited press release, July 13)
Wood Mackenzie and Ball Corporation introduce new tool that tracks global LNG liquefaction train statuses in near real-time
LONDON/HOUSTON/WESTMINSTER, Colo., 13 July 2022 – Wood Mackenzie, Inc. a Verisk business (NASDAQ:VRSK), and Ball Corporation (NYSE: BALL) today announced the launch of Global LNG Liquefaction Monitoring – the first product arising from their strategic agreement to accelerate the development of advanced analytics for energy markets.
The Global LNG Liquefaction Monitoring product provides near real-time market intelligence on liquefaction train statuses. The tool is a powerful combination of Ball’s satellite expertise and remote sensing data analytics capabilities and Wood Mackenzie’s proprietary ground-based monitoring of U.S. liquefaction sites.
Lucas Schmitt, Principal Analyst – Global LNG Liquefaction Monitoring for Wood Mackenzie said: “The number of liquefaction plant outages has increased significantly in recent years – and these events impact market prices. With LNG cargoes trading at record high prices, having access to timely and accurate data is critical.”
Wood Mackenzie’s proprietary dataset alerts users to train outages and restarts before other indicators, such as vessel tracking. For example, Wood Mackenzie’s algorithms detected maintenance on two Qatari trains in early February 2022 with a 7-day lead time before any other indicators.
“Our alerts flag disruptions so customers can react quickly and identify potential trading opportunities. Additionally, the high granularity of the data allows clients to understand train-level dynamics to derive valuable insight on companies involved in these assets” Schmitt added.
Kendall Ackerman, director of Ball’s commercial-facing satellite analytics business, commented: “Through our collaboration with Wood Mackenzie, we are identifying new and exciting applications for our proprietary satellite analytics. The opportunity to provide the industry with time-critical data that will help drive decisions in the global LNG markets is ground-breaking.”