Global optimal vessel capacity for LNG production and transportation
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Issue
Vol. 7 No. 1 (2022)
Submitted
April 13, 2022
Published
April 25, 2022
Keywords:
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natural gas Liquefied natural gas Vessel capacity Transportation Linear programming
Abstract
In this paper, we developed a linear programming model to determine the volume of vessels that will give an optimal return on investment. The solution to the developed model was carried out using the Interior Point algorithm with the help of the MATLAB package. The analysis shows that the production and transporting of the LNG with a vessel of capacity 178,5006m3 would give an optimal profit of 633,640 million USD. And from the results of the analysis, we observed that the decision to take the maximum modern capacity instead of lower capacities yields the highest profit.
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References
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Peter, G. N. (2009). A short history of LNG shipping 1959-2009. Texas Section â SNAME.
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Tinker, S. W., & Foss, M. M. (2007). Introduction to LNGâan overview of natural gas liquefied (LNG), its properties, organization of the LNG industry and safety considerations. Bureau of Economic Geology, Centre for Energy Economics (CEE), University of TexasâAustin.
BP (2017). BP Energy Outlook. Retrieved from https://www.bp.com/content/dam/bp/pdf/energy- economics/energy-outlook-2017/bp-energy-outlook-2017.pdf.
Choi, M. S. (2011). LNG for petroleum engineers. SPE projects, facilities & construction, 6(04), 255-263.
Clarkson Research Service Limited. (2008). Shipping Intelligence Network.
Cranmore, R. G., & Stanton, E. (2000). Natural Gas, Ch. 9, Trrtnsportotion, Ch. 10,âModern Petroleum Technology âUpstream Volume, Institute of Petroleum, Editor: RA Dawe.
DNVGL (2018). Flex LNG CapitalMarket Day. Technical report
Energy information administration. (2018). What is U.S. electricity generation by energy source?. Retrieved from https://www.eia.gov/tools/faqs/faq.php?id=427&t=3
Fpz.unizg.hr. (2018). Retrieved from: http://www.fpz.unizg.hr/traffic/index.php/PROMTT/article/download/912/762/0
Gate Terminal. (2011). LNG Facts (What is LNG?). Retrieved from http://www.gate.nl/en/lng-facts/what-is-lng.html
Igboanusi, P. U. (2007). Combined energy production and carbon dioxide storage in the natural gas hydrates. Imperial Collage, London.
IGU. (2018). World LNG report - 2017 edition, international gas union. Retrieved 2018-30-05 from: https://www.igu.org/sites/default/files/103419-World_IGU_Report_no%20crops.pdf.
Kitzel, B. (2008). Choosing the right insulation. LNG industry, (SPRING), 114-117.
Liang, F. Y., Ryvak, M., Sayeed, S., & Zhao, N. (2012). The role of natural gas as a primary fuel in the near future, including comparisons of acquisition, transmission and waste handling costs of as with competitive alternatives. Chemistry Central Journal, 6(1), 1-24. https://doi.org/10.1186/1752-153X-6-S1-S4
Mokhatab, S., & Economides, M. J. (2006, September). Onshore LNG production process selection. In SPE Annual Technical Conference and Exhibition. OnePetro.
Moryadee, S., & Gabriel, S. A. (2017). Panama Canal expansion: will panama canal be a game-changer for liquefied natural gas exports to Asia?. Journal of Energy Engineering, 143(1), 04016024.
Patin, S. A. (1999). Environmental impact of the offshore oil and gas industry (Vol. 425). East Nortport, NY: EcoMonitor Pub..
Peter, G. N. (2009). A short history of LNG shipping 1959-2009. Texas Section â SNAME.
Stopford, M. (2008). Maritime economics 3e. Routledge.
Tinker, S. W., & Foss, M. M. (2007). Introduction to LNGâan overview of natural gas liquefied (LNG), its properties, organization of the LNG industry and safety considerations. Bureau of Economic Geology, Centre for Energy Economics (CEE), University of TexasâAustin.
Authors
Igboanusi, C., Amuji, H. O., Onukwube, O. G., & Chikadibia, N. A. (2022). Global optimal vessel capacity for LNG production and transportation. Journal of Sustainable Development of Transport and Logistics, 7(1), 82â89. https://doi.org/10.14254/jsdtl.2022.7-1.7
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