May 26, 2000 04:32 PM ET
By David Kirkpatrick, dbusiness.com

Houston, May 25 (dbusiness.com) -- The developers of the new energy trading Website, NRGLINE.COM, have signed a deal to use a digitally oriented software engine to power the site -- just in time for its planned June kickoff of interactive trading.

International Energy Partners said it has signed a long-term licensing agreement with CYNET Inc's Interactive division for use of the software engine. The AECsoft engine is based on a messaging board system and will allow buyers and sellers in the energy industry to digitally broker their trades, the company said.

Steve Leahy, managing partner of International Energy Partners, explained that taking the energy brokerage trade online creates a good fit because the oil business is very standardized.

"The digital (brokerage application) is less than one third the cost of a regular broker," Leahy said. "For example, in the feed stock area there are a lot specifications and what the Internet allows you to do is double click on a spec sheet and you'll have that specification behind that posting pop right up with all of the different properties of the different oils."

This speed saves time and money, Leahy said. "That saves you the step of going to the fax, fax it, receive the fax and follow up with a phone call," he said. "The oil company can now take that posting (and) e-mail the specs to the refinery or the plant. They can e-mail it back yes or no and then go back online and either buy or sell it."

NRGLINE.COM was launched in simulation in January to get ready for the June interactive move. In a statement, International Energy Partners said the site will begin with four interactive "trading pits" which will cover the energy markets of Houston, Texas City, Beaumont, New Orleans, Chicago, the Mid-West, New York, Los Angeles, San Francisco and others.

International Energy Partners and AECsoft are both privately held. In afternoon trading, CYNET Inc. (NASDAQ: CYNE) shares were at $1.50, up 3 cents.