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New LNG software package launched

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LNG Industry,

OpenLink, Veson Nautical, and Wipro Ltd have unveiled a strategic partnership called RapidLNG: a software package that optimises the entire LNG supply chain.

RapidLNG, which was unveiled at the LNG Global Congress in Singapore, combines leading IT tools from the companies to create a software platform that specifically supports LNG planning, shipping, and trading requirements for traders, schedulers, and others involved with the buying, storing, or regasification of LNG for local market distribution.

The pre-configured software package will help companies reduce operating costs, as well as the need for expensive reconciliations and IT infrastructure.

The solution helps users manage risk and P&L reporting across LNG assets in real-time, including maritime transportation as well as physical and paper trades. It facilitates seamless data transfer throughout the entire LNG value chain and improves decision making through accurate reporting and greater visibility into costs across the organisation.

Customers will also be able to automate LNG-specific bunker calculations, such as boil-off/FOE conversion, enabling their shipping operations to generate accurate voyage P&L statements and increase operational efficiency.

RapidLNG is a result of an integration of the following software solutions: OpenLink’s Endur LNG Xpress, Veson Nautical’s Integrated Maritime Operations System (IMOS) LNG Module and Veslink, and Wipro’s PAO (Planning and Optimization) LNG solution.

Subbi Lakshmanan, Vice President and Domain Head - Energy, Natural Resources and Utilities (ENU), Wipro Ltd said, “Wipro’s CTRM (Commodity Trading and Risk Management) Practice has committed significant resources along with our partners OpenLink and Veson Nautical in developing RapidLNG and we are very happy with the outcome. The solution aims to address almost every element relevant to the volatile and dynamic demand and supply scenario in the LNG business and will offer much needed agility to producers and consumers in the LNG supply chain.”

Adapted from press release by

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