Global optimal vessel capacity for LNG production and transportation

Chinemerem Igboanusi; Harrison Obiora Amuji; Obioma G. Onukwube; Nwosu Azuwueze Chikadibia

doi:10.14254/jsdtl.2022.7-1.7

Global optimal vessel capacity for LNG production and transportation

Chinemerem Igboanusi Department of Transport Management Technology, Federal University of Technology, Owerri Imo State Nigeria
Harrison Obiora Amuji Department of Transport Management Technology, Federal University of Technology, Owerri Imo State, Nigeria http://orcid.org/0000-0003-2992-2431
Obioma G. Onukwube Department of Statistics, Federal University of Technology, Owerri, Imo State, Nigeria http://orcid.org/0000-0003-2082-4800
Nwosu Azuwueze Chikadibia Department of Infrastructure Development, Ministry of Niger Delta Affairs, Abuja Nigeria

DOI: http://dx.doi.org/10.14254/jsdtl.2022.7-1.7

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.

Published

Apr 25, 2022

How to Cite

IGBOANUSI, Chinemerem et al. Global optimal vessel capacity for LNG production and transportation. Journal of Sustainable Development of Transport and Logistics, [S.l.], v. 7, n. 1, p. 82-89, apr. 2022. ISSN 2520-2979. Available at: <https://jsdtl.sciview.net/index.php/jsdtl/article/view/174>. Date accessed: 27 sep. 2022. doi: http://dx.doi.org/10.14254/jsdtl.2022.7-1.7.

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