In 2015 the Eikland Energy iGIS/LNG system pioneered fundamentally based, terminal-level LNG supply forecasts, updated every 3 hours. The system was recently significantly upgraded for the current market, with very satisfactory and industry-leading accuracy statistics.
LNG supply has become critical in energy balances and price dynamics world-wide, but before 2020 the interest of most planners and traders was still largely limited to monthly or weekly regional assessments. With fundamental changes since then, LNG is now traded and portfolio-balanced on par and integrated with pipeline gas and electricity in both physical and financial markets on a real-time basis.
Hence, a need for better tools and real-time data that can automatically capture rapid and sometimes multiple price-driven ship redirections and complications such as destination and journey restrictions such as with the Suez and Panama canals and ice on the Northern Sailing Route (NSR).
In November 2024 Eikland Energy launched the rearchitected iGIS/LNG v2AI that nearly doubled the non-probabilistic ship journey arc projection reach. This was accomplished by using AI concepts and neural-style information layering to strictly order, verify and correct input data based on quality and consistency.
A full year of operations has now documented achievement of a new level of precision.
Using Europe’s daily public GiE ALSI regas sendout data (the only reference data source available), iGIS/LNG M+1 aggregate projections for EU+GB have been consistently well within +/- 5% of actuals, and even +/- 2%. This level of accuracy is even more significant when considering that comparison is only possible between forecast M+1 average “LNG on offer” in a live market to actual “LNG consumed”.
Eikland Energy provides this M+1 LNG supply projection service as part of the iGIS/LNG system and can be accessed both via the graphically rich web-based app or via a highly configurable API endpoint. Projections are done in near real-time (every 3 hours) “within-day” for all operating LNG terminals, and with data also natively aggregated to countries. In addition the service also covers prospective M+1 cargo loadings at liquefaction plants.
Please contact Eikland Energy at contact@eiklandenergy.com for further information on this service and the iGIS/LNG system.