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Russian LNG development in the Arctic.
The purpose of this paper is to improve the tactical planning of the stakeholders of the midstream liquefied natural gas (LNG) supply chain, using an optimisation…
The purpose of this paper is to improve the tactical planning of the stakeholders of the midstream liquefied natural gas (LNG) supply chain, using an optimisation approach. The results can contribute to enhance the proactivity on significant investment decisions.
A decision support tool (DST) is proposed to minimise the operational cost of a fleet of vessels. Mixed integer linear programming (MILP) used to perform contract assignment combined with a genetic algorithm solution are the foundations of the DST. The aforementioned methods present a formulation of the maritime transportation problem from the scope of tramp shipping companies.
The validation of the DST through a realistic case study illustrates its potential in generating quantitative data about the cost of the midstream LNG supply chain and the annual operations schedule for a fleet of LNG vessels.
The LNG transportation scenarios included assumptions, which were required for resource reasons, such as omission of stochasticity. Notwithstanding the assumptions made, it is to the authors’ belief that the paper meets its objectives as described above.
Potential practitioners may exploit the results to make informed decisions on the operation of LNG vessels, charter rate quotes and/or redeployment of existing fleet.
The research has a novel approach as it combines the creation of practical management tool, with a comprehensive mathematical modelling, for the midstream LNG supply chain. Quantifying future fleet costs is an alternative approach, which may improve the planning procedure of a tramp shipping company.
Canada’s LNG outlook.
In the Rio Grande Valley, natural gas corporations have proposed building up to five export terminals for shipping to overseas locations liquefied natural gas (LNG). The…
In the Rio Grande Valley, natural gas corporations have proposed building up to five export terminals for shipping to overseas locations liquefied natural gas (LNG). The LNG terminals constructed would have adverse consequences for the people living in the area. The purpose of this paper is to analyze the conflict between citizen groups and corporations.
Using a narrative approach, theories by Boje, Debord, Bauman and Best and Kellner, the paper analyzes and tests the strategies and resources and stories utilized by proponents and opponents of the LNG terminals in the Port of Brownsville. Examined are internet media as artifacts for the analysis, in addition to an evaluation of political protests and demonstrations.
Corporate globalization may be halted because of resistance put forth by local opponents – citizen and environmental groups – offering resistance due to perceptions that the local economy and environment may be severely damaged.
LNG corporate expansion continues globally. The research provides a glimpse into one how one locality may resist capitalist domination, protecting its own economy and environment.
The assessment provides a practical means to examine how local resistance may successfully avert unwanted fossil fuel industries.
Local citizens’ groups may have the means necessary to stop the LNG terminals from locating in the Rio Grande Valley; however, capitalist globalization may be too much of an irresistible force to overcome.
This research paper demonstrates the conflict inherent to globalization through the economic and environmental consequences that occur when citizen groups oppose corporate fossil fuel expansion into their community.
China accounted for 12.1% of US LNG exports in 2017, taking more than 2 billion cubic metres (bcm). The inclusion of US LNG in China’s retaliatory tariffs raises concerns…
LNG investment outlook.
The liquefied natural gas (LNG) business comprises a number of economic activities with inherent risks. The purpose of this paper is to propose an integrated modelling…
The liquefied natural gas (LNG) business comprises a number of economic activities with inherent risks. The purpose of this paper is to propose an integrated modelling approach, as part of the investment decision‐making process, for optimising economic returns from LNG whilst taking into account uncertainty in various key input parameters.
Inter‐linked cash flow and pricing models of the LNG chain were constructed. Net present value was maximised based on selection of netback pricing variables and level of investment shareholding. Constraints were placed on the minimum acceptable returns. The risk affinity of the decision maker was captured in the form of a chance‐constrained optimisation problem. A genetic algorithm was applied for numerical optimisation, in combination with Monte Carlo simulations to account for the stochastic nature of the problem.
Based on the results of a case study, the deterministic solution, having no consideration to uncertainty, was found to be both sub‐optimal and provided an unsatisfactory risk outcome. The stochastic approach yielded an optimal solution with due consideration to risk. Various scenarios show that the choice of the decision variables significantly impacts the trade‐off between risk and returns along the LNG chain to government and investor.
The suitability of the methodology to the operational phase of the LNG business which incorporates different elements of risk, such as market dynamics and logistics, is as yet untested.
This framework may be useful in the formulation of optimal commercial structure of firms, investment portfolio and gas/LNG pricing arrangements for host governments involved in the LNG business.
Liquified natural gas in a low oil price environment.