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

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.
Section
Articles