Wood Mackenzie and Ball Corporation introduce new tool that tracks global LNG liquefaction train statuses in near real-time

Rhea-AI Summary

Wood Mackenzie, a Verisk business (Nasdaq: VRSK), and Ball Corporation (NYSE: BALL) have launched the Global LNG Liquefaction Monitoring product. This innovative tool offers near real-time market intelligence on liquefaction train statuses, combining satellite analytics and ground-based monitoring. The product aims to address increased liquefaction plant outages, providing crucial data to help clients adapt to market fluctuations and identify trading opportunities. The collaboration highlights both companies' commitment to leveraging advanced analytics in the global LNG market.

Positive

• Launch of Global LNG Liquefaction Monitoring product, enhancing market intelligence.
• Combines satellite expertise with ground-based monitoring for accurate data.
• Addresses significant liquefaction plant outages, aiding market adaptability.

Negative

• None.

LONDON/HOUSTON/WESTMINSTER, Colo., July 13, 2022 (GLOBE NEWSWIRE) -- 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.”

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EDITOR’S NOTES

About Wood Mackenzie Global LNG Liquefaction monitoring tool – near real-time market intelligence across global LNG markets in collaboration with Ball Aerospace – read more here on woodmac.com and download a brochure here.

Further reading
News release: Wood Mackenzie and Ball Corporation announce satellite data analytics collaboration, 11 November 2021

About Wood Mackenzie
Wood Mackenzie, a Verisk Analytics business, is a trusted source of commercial intelligence for the world's natural resources sector. We empower clients to make better strategic decisions, providing objective analysis and advice on assets, companies and markets. For more information, visit: www.woodmac.com or follow us on Twitter @WoodMackenzie

WOOD MACKENZIE is a trademark of Wood Mackenzie Limited and is the subject of trademark registrations and/or applications in the European Community, the USA and other countries around the world.

About Ball Corporation 
Ball Corporation supplies innovative, sustainable aluminum packaging solutions for beverage, personal care and household products for customers, as well as aerospace and other technologies and services primarily for the U.S. government. Ball Corporation and its subsidiaries employ 24,300 people worldwide and reported 2021 net sales of $13.8 billion. For more information, visit www.ball.com, or connect with us on Facebook or Twitter.  

About Verisk
Verisk (Nasdaq: VRSK) provides data-driven analytic insights and solutions for the insurance and energy industries. Through advanced data analytics, software, scientific research and deep industry knowledge, Verisk empowers customers to strengthen operating efficiency, improve underwriting and claims outcomes, combat fraud and make informed decisions about global issues, including climate change and extreme events as well as political and ESG topics. With offices in more than 30 countries, Verisk consistently earns certification by Great Place to Work and fosters an inclusive culture where all team members feel they belong. For more, visit Verisk.com and the Verisk Newsroom.

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• Global LNG Liquefaction Monitoring

FAQ

What is the Global LNG Liquefaction Monitoring product launched by Wood Mackenzie and Ball Corporation?

It's a new tool that provides near real-time market intelligence on the statuses of liquefaction trains.

How does the Global LNG Liquefaction Monitoring product impact the LNG market?

It helps clients react quickly to market changes by alerting them to train outages before other indicators.

When was the Global LNG Liquefaction Monitoring product launched?

The product was launched on July 13, 2022.

What companies are involved in the Global LNG Liquefaction Monitoring project?

The project involves Wood Mackenzie and Ball Corporation.

What benefits does the Global LNG Liquefaction Monitoring tool provide to clients?

It offers timely and accurate data to identify trading opportunities and understand market dynamics.