Sumitomo signs Triple Point to provide hosted natural gas trading services

Source: Triple Point Technology

Triple Point Technology, Inc., the leading global supplier of cross-industry software platforms for the supply, trading, marketing, and movement of commodities, announced today that the Sumitomo Corporation of America (SCOA) has selected its solution for natural gas trading, risk management and scheduling, delivered via ASP.

Seven prestigious clients have signed on since Triple Point introduced its Gas Scheduling Visual Cockpit module to the market in June 2005, establishing Triple Point as the premier solution.

SCOA, the largest subsidiary of the Sumitomo Corporation, one of Japan's major integrated trading and investment business enterprises, chose Triple Point's solution to support the evolution of its natural gas business. "We were looking for an integrated front to back-office solution that would handle scheduling, support real-time physical and financial trading, could be implemented quickly, and would scale as we continue to grow," said Brian Mock, president, Pacific Summit Energy LLC, formed by SCOA to expand their presence in the North American energy industry. "We believe that Triple Point's ASP solution gives us the complete package all at once, providing very fast time-to-market."

"It's been satisfying to see how many of the major players in natural gas trading have adopted our solution in the last nine months. Clients are finding that it's the only solution that can handle the complexities of natural gas trading and scheduling and is completely scalable to meet their high transaction requirements," said Peter F. Armstrong, president and CEO. "Commodity XL for Gas and 'Visual Cockpit' are proven, world-class solutions, designed using the best practices of global leaders in gas trading and scheduling."

Gas Scheduling Visual Cockpit was announced in June of 2005 and integrates seamlessly with Commodity XL for Gas, providing a central, single screen control point that graphically displays all the information required for complex scheduling. It solves the unique scheduling challenges caused by a convoluted interstate pipeline system, intricate FERC regulations, and complexities such as capacity management, storage management, imbalances, book-outs, lending, and parking.

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