Liquefied Natural Gas Ship Route Planning: A Risk Analysis Approach

We present a risk analysis approach for selecting alternate routes between liquefaction and re-gasification terminals. Due to lack of data related to incidents directly affecting LNG vessels as a result of the impressive historical safety records of the LNG industry, some parameters required for our risk analysis are estimated from a closely related hazmat cargo, Crude Oil. Our formulation is then used to solve a problem instance, using real-life data. Our results suggest: i) Depending on managerial preference, an alternate route with shorter distance may not necessarily be the vessel route of choice; ii) Risk analysis approach provides an insight into selection of a voyage route, taking into consideration activities (terrorism, or pirate attacks, or otherwise) that have been historically associated with alternate LNG vessel routes.

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Published in: Procedia Manufacturing
License: http://creativecommons.org/licenses/by-nc-nd/4.0/
See article on publisher's website: https://dx.doi.org/10.1016/j.promfg.2015.07.282

Additional institutions affiliated with: Mechanical Engineering Program - TAMUQ