Cash is King - Repurposing Marginal Assets to Reduce Floating LNG CAPEX

2021 ◽  
Author(s):  
Kenneth Shane Tierling
Keyword(s):  
Energy Demand ◽  
Investment Decision ◽  
Renewable Energy Sources ◽  
Cost Savings ◽  
Business Case ◽  
Capital Cost ◽  
Minimum Size ◽  
Energy Prices ◽  
Global Energy ◽  
The Impact

Objective / Scope With renewable energy sources not currently able to move energy around the globe and forming small portions of the total global energy supply, it has fallen upon hydrocarbon sources to form the backbone of global energy movements. Hence, the recent energy demand decline, along with policy, have disproportionately impacted world-wide petroleum and LNG pricing. The impact on Floating LNG has been a heightened demand for capital efficiency, required to achieve final investment decision. A business case specific means of reducing FLNG CAPEX, has been repurposing marginal assets. Starting with a breakdown of the cost components of an FLNG facility, this paper will provide examples of the inclusion of preexisting assets into FLNG projects to reduce capital cost. The paper will wrap up with other opportunities for cost savings, to stimulate thought. Methods, Procedures, Process Floating LNG (FLNG) technologies have been deployed to monetize mid-sized offshore gas reservoirs, avoiding constructing a sub-sea gas pipeline to a land-based LNG facility and export jetty. Containing the processing to an oceanic environment also reduces the impact on indigenous peoples as well as terrestrial flora and fauna. FLNG facilities also have the potential of serving multiple offshore fields over the life of the facility, thereby reducing the minimum size field that can be economically monetized. Interest in FLNG continues, despite the current slump in energy prices, however these challenging times are refocusing efforts on reducing the capital cost of FLNG. This paper will explore recent capital cost trends in LNG, with a focus on floating LNG, examples of realized opportunities to reduce CAPEX, and further scope for reductions. Results, Observations, Conclusions The readers will take-away from this paper a deeper understanding of: Recent trends in CAPEX for LNG, and specifically FLNG Where significant opportunities lie for cost reduction Examples of the reuse and repurposing of marginal assets to reduce cost of FLNG facilities Areas to be explored for future capital reduction Novel / Additive Information This paper pulls together disparate threads into a coherent whole, providing visualization of the trends and examples of realized opportunities.

scholarly journals Environment and Potential Affecting Investment Decision for Accommodation Business: Case of Less Visited Area in Samut Songkhram and Phatthalung Province

2021 ◽  
Vol 58 (2) ◽  
pp. 1706-1717
Author(s):  
Krisada Sungkhamanee, Piyadhida Sungkhamanee
Keyword(s):  
Financial Literacy ◽  
Investment Decision ◽  
Investment Decisions ◽  
Business Case ◽  
Potential Factors ◽  
Short Term Investment ◽  
The Impact ◽  
Moderating Role

Investment decisions have great importance in different sectors of various countries and these decisions are the basis on which the outcomes of the investments are based. However, there might be certain factors that might lead to the incorrect long term and short term investment decisions. In this regard, the current study has been conducted with the core motive to explore the impact casted by the environment and potential factors i.e. salience and overconfidence on the long term investment decisions for accommodation business along with the moderation of a variable i.e. financial literacy. To fulfill this objective, the researcher has collected data from the investors of accommodation businesses in Thailand. The collected data has been subjected to different statistical techniques and tools for analysis purpose and the results have been obtained. The results obtained by the analysis of the collected data indicate that salience and overconfidence have significant impact on the long term investment decision. In addition, the moderating role of financial literacy has also been found as significant in the study. The results suggest that the investors of the accommodation business must consider the aspects of salience and overconfidence before taking any long term investment decision to avoid failure of the investment decision.    

scholarly journals THE PARADIGM OF ECONOMIC ENERGY SECURITY BY ORIENTATION ON RENEWABLE ENERGY SOURCES

2020 ◽  
pp. 114-125
Author(s):  
Tetyana DERKACH ◽  
Denys CHEBANENKO
Keyword(s):  
Renewable Energy ◽  
National Economy ◽  
Energy Security ◽  
Renewable Energy Sources ◽  
Energy Sector ◽  
Economic Feasibility ◽  
Energy Sources ◽  
Energy Prices ◽  
Equal Distribution ◽  
The Impact

Introduction. The topic of renewable energy today is one of the most relevant and requires consideration from the point of view of all components of this process, namely economic, financial, environmental, technological, and others. The transition to renewable energy is already irreversible today since natural resources are depleted, fuel prices are the subject to significant fluctuations, and the stable growth of the national economy is ensured by energy security. The purpose. The purpose of the article is to analyze the volume of global energy consumption, to analyze the impact of the introduction of renewable energy sources on the development of the national economy, to ensure energy security with the depletion of hydrocarbon resources and a slight diversification of their suppliers. Results. Today the Ukrainian economy is the most energy-intensive. Unstable energy prices are a threat both to the global economy and to each country separately. Therefore, in the event of a decrease in the supply of traditional energy resources, the importing countries experience the greatest difficulties. The existing tendency in Ukraine to increase the consumption of traditional energy sources, combined with the absence of a targeted policy aimed at reducing the volume of environmental pollution, will lead to an increase in negative economic consequences. The advantage of renewable energy sources is their equal distribution throughout the country (with the exception of water resources). This feature leads to the formation of one of the main characteristics of power systems based on renewable energy sources, namely, their decentralization. It should be borne in mind that the world energy market is made up of state and non-state participants. Non-state participants are showing an upward trend. However, the state should have the greatest influence on the national energy sector. Renewable energy is an area that, in the Ukrainian context, depends on state support, namely economic and administrative incentives. The dynamics of the development of renewable energy should be combined with the balanced development of the fuel and energy sector in Ukraine. Conclusions. The process of development and transition to renewable energy needs a systematic approach. Both qualitative and quantitative approaches are needed to assess the transition to renewable energy. An effective strategy for the transition to the introduction of renewable energy technologies should be justified by economic feasibility. The transition from traditional energy to renewable sources should lead to energy security, which contributes to stable economic growth, political independence, and improving the quality of the environmental component.

scholarly journals Replacing Fossil Fuels and Nuclear Power with Renewable Energy: Utopia or Valid Option? A Swiss Case Study of Bioenergy

Energies ◽  
2020 ◽  
Vol 13 (8) ◽  
pp. 2051 ◽  
Author(s):  
Renato Lemm ◽  
Raphael Haymoz ◽  
Astrid Björnsen Gurung ◽  
Vanessa Burg ◽  
Tom Strebel ◽  
...  
Keyword(s):  
Renewable Energy ◽  
Energy Demand ◽  
Renewable Energy Sources ◽  
Regional Scale ◽  
Energy Sources ◽  
Potential Contribution ◽  
Swiss Canton ◽  
Future System ◽  
Conversion Technologies ◽  
The Impact

The transition towards a reliable, sustainable, low-carbon energy system is a major challenge of the 21st century. Due to the lower energy density of many renewable energy sources, a future system is expected to be more decentralized, leading to significant changes at the regional scale. This study analyzes the feasibility of the energy transition in the Swiss canton of Aargau as an illustrative example and explores different strategies to satisfy the local demand for electricity, heat, and fuel by 2035. In particular, we assess the potential contribution of biomass. Four scenarios demonstrate what energy demand proportion could be covered by bioenergy if different priorities were given to the provision of heat, electricity, and fuel. The impact of improved conversion technologies is also considered. The results show that the sustainably available renewable energy sources in canton Aargau will probably not be sufficient to cover its forecasted energy demand in 2035, neither with present nor future biomass conversion technologies. At best, 74% of the energy demand could be met by renewables. Biomass can increase the degree of autarky by a maximum of 13%. Depending on the scenario, at least 26–43% (2500–5700 GWh) of total energy demand is lacking, particularly for mobility purposes.

scholarly journals Life Cycle Assessment of Maize-Germ Oil Production and The Use of Bioenergy to Mitigate Environmental Impacts: A Gate-To-Gate Case Study

Resources ◽  
2019 ◽  
Vol 8 (2) ◽  
pp. 60 ◽  
Author(s):  
Mattias Gaglio ◽  
Elena Tamburini ◽  
Francesco Lucchesi ◽  
Vassilis Aschonitis ◽  
Anna Atti ◽  
...  
Keyword(s):  
Life Cycle Assessment ◽  
Life Cycle ◽  
Environmental Impacts ◽  
Energy Demand ◽  
Food Industry ◽  
Renewable Energy Sources ◽  
Environmental Benefits ◽  
Impact Categories ◽  
Industrial Processing ◽  
The Impact

The need to reduce the environmental impacts of the food industry is increasing together with the dramatic increment of global food demand. Circulation strategies such as the exploitation of self-produced renewable energy sources can improve ecological performances of industrial processes. However, evidence is needed to demonstrate and characterize such environmental benefits. This study assessed the environmental performances of industrial processing of maize edible oil, whose energy provision is guaranteed by residues biomasses. A gate-to-gate Life Cycle Assessment (LCA) approach was applied for a large-size factory of Northern Italy to describe: (i) the environmental impacts related to industrial processing and (ii) the contribution of residue-based bioenergy to their mitigation, through the comparison with a reference system based on conventional energy. The results showed that oil refinement is the most impacting phase for almost all the considered impact categories. The use of residue-based bioenergy was found to drastically reduce the emissions for all the impact categories. Moreover, Cumulative Energy Demand analysis revealed that the use of biomass residues increased energy efficiency through a reduction of the total energy demand of the industrial process. The study demonstrates that the exploitation of residue-based bioenergy can be a sustainable solution to improve environmental performances of the food industry, while supporting circular economy.

scholarly journals Big Data in Smart Energy Systems: A Critical Review

2020 ◽  
Vol 11 (41) ◽  
pp. 11-26
Author(s):  
Keziban Seçkin Codal ◽  
İzzet Arı ◽  
H. Kemal İlter
Keyword(s):  
Big Data ◽  
Critical Review ◽  
Carbon Dioxide Emissions ◽  
Energy Demand ◽  
Renewable Energy Sources ◽  
Energy Systems ◽  
Energy System ◽  
Interdisciplinary Studies ◽  
Smart Energy Systems ◽  
The Impact

Climate change is an undeniable fact. Considering that two-thirds of greenhouse gas emissions originate from the energy sector, it is expected that the world's energy system will be transformed with renewable energy sources. Energy efficiency will be continuously increased. Reducing energy-related carbon dioxide emissions is the heart of the energy transition. Big data in energy systems play a crucial role in evaluating the adaptive capacity and investing more smartly to manage energy demand and supply. Indeed, the impact of the smart energy grid and meters on smart energy systems provide and assist decision-makers in transforming energy production, consumption, and communities. This study reviews the literature for aligning big data and smart energy systems and criticized according to regional perspective, period, disciplines, big data characteristics, and used data analytics. The critical review has been categorized into present themes. The results address issues, including scientific studies using data analysis techniques that take into account the characteristics of big data in the smart energy literature and the future of smart energy approaches. The manuscripts on big data in smart energy systems are a promising issue, albeit it is essential to expand subjects through comprehensive interdisciplinary studies

scholarly journals Harnessing Renewable Energy at Kalasalingam Academy of Research and Education – A Role Model Case

2021 ◽  
Vol 1 (1) ◽  
Author(s):  
Neelakandan T.R. ◽  
Pandiyarajan V ◽  
Shasi Anand Sridharan ◽  
Nagaraj Ramrao
Keyword(s):  
Renewable Energy ◽  
Solar Energy ◽  
Energy Demand ◽  
Role Model ◽  
Carbon Sink ◽  
Renewable Energy Sources ◽  
Environmental Benefits ◽  
Energy Sources ◽  
Research And Education ◽  
The Impact

Global energy demand and environmental concerns are the driving force for the use of alternative sustainable and ecofriendly renewable energy sources. Solar energy is the inexhaustible and CO2 emission free energy source worldwide. It produces significant environmental benefits in comparison to the conventional energy sources, thus contributing to the sustainable development of human activities. It produces clean and renewable power from the sun and benefits the environment without causing air and water pollution. Alternatives to fossil fuels reduce carbon foot print across the globe reducing emission of greenhouse gases and become ecofriendly. Solar power has attracted the largest share of new investments in solar energy across the world. This research article shows light on the solar energy sources developed by Kalasalingam Academy of Research and Education (KARE) for the effective utilization of solar energy in the campus and its impact on the reduction in carbon foot print and also the impact of green vegetation as a source of carbon sink for an ecofriendly campus.

scholarly journals Optimization of the Thermal Insulation Level of Residential Buildings in the Almaty Region of Kazakhstan

Energies ◽  
2020 ◽  
Vol 13 (18) ◽  
pp. 4692 ◽  
Author(s):  
Ainur Tukhtamisheva ◽  
Dinar Adilova ◽  
Karolis Banionis ◽  
Aurelija Levinskytė ◽  
Raimondas Bliūdžius
Keyword(s):  
Energy Consumption ◽  
Thermal Insulation ◽  
Energy Efficient ◽  
Residential Buildings ◽  
Energy Prices ◽  
Optimal Method ◽  
Global Energy ◽  
Practical Result ◽  
The Government ◽  
The Impact

Kazakhstan is country rich in energy resources, but to raise the living standards of the country’s population, the government regulates prices of heating energy, which are significantly lower comparing to those in the global energy market. Such an approach encourages the construction of residential buildings without concern for their energy efficiency, which significantly increases energy consumption in the sector and leads to the increase of greenhouse gas emissions into the environment. Therefore, the aim of this study was to analyze the impact of regulated low prices of heating energy on long-term energy use in buildings, to determine optimal levels of building thermal insulation at current energy prices and following global energy price trends, and to demonstrate the impact of more efficient building thermal insulation on heating energy consumption from a long-time perspective. The cost-optimal method used in EU countries was chosen for the optimization of building thermal insulation and energy consumption to compare the impact of energy prices on the optimal thermal insulation of buildings. The results of the study showed that maintaining low energy prices hinders the implementation of energy-efficient solutions in buildings and does not provide an economic justification for prolonging the heating season by ensuring the quality of the indoor microclimate. As a practical result of this study, a recommendation was made to introduce optimal thermal insulation requirements in building regulations and to redistribute part of the energy subsidies for implementation of energy-efficient measures in the residential building sector.

scholarly journals Analysis of the global energy resource market

2020 ◽  
Vol 178 ◽  
pp. 01058 ◽  
Author(s):  
Yulia Volotkovskaya ◽  
Natalya Volotkovskaya ◽  
Alexander Semenov ◽  
Anastasia Semkova ◽  
Oleg Fedorov ◽  
...  
Keyword(s):  
Energy Demand ◽  
Energy Production ◽  
Renewable Energy Sources ◽  
Energy Resource ◽  
Fold Increase ◽  
Energy Resources ◽  
Global Energy ◽  
Eu Countries ◽  
The Usa ◽  
Quantitative Changes

The paper analyses the global demand for various energy resources in recent years. Nowadays, qualitative and quantitative changes in structure of distribution and consumption of energy resources take place. The paper has reviewed a number of papers predicting two-fold increase in the global energy production market by 2040. A number of other papers also predict the shift of energy demand from the USA and EU countries to the Asian market. The paper presents percentage distribution of world’s energy requirements satisfied by the six types of resources among which oil, gas, and coil are still predominant. Some papers have stated that the demand for natural gas will continue to grow faster than the demand for oil or coil in the future. To confirm or deny this theory the authors have designed the mathematical model showing trends in demand for gas compared to the total demand for oil and coal; as a result, two different polynomial functions have been obtained with almost the same probability confirming this prediction. Trends in energy production and change of global energy demand across regions over the past twenty years have been studied. The studies show that, in general, energy production has been increased for the last decade. However, due to economic crises fluctuations, energy production in EU countries has abruptly decreased; it results in displacement of the EU countries from the market by the countries of the Middle East and the Near East. The paper also notes such important factors as decrease in solid fuel production in Great Britain; steady increasing importance of renewable energy sources for the last few years; reducing of the rate of nuclear energy development by some key countries; general lack of energy recourses in EU countries, etc.

scholarly journals Energy simulation supported sketch plan optimization of the University of Pécs, Medical School extension

2020 ◽  
Vol 15 (2) ◽  
pp. 178-186
Author(s):  
Dóra Noémi Zetz ◽  
István Kistelegdi
Keyword(s):  
Medical School ◽  
Thermal Energy ◽  
Energy Demand ◽  
Cost Savings ◽  
Design Stage ◽  
Performance Goal ◽  
Energy Simulations ◽  
Sketch Plan ◽  
The University ◽  
The Impact

Abstract:A building physics supported development was undertaken for the new block of the University of Pécs, Medical School. During sketch design stage climate, lighting and energy simulations were applied to quantify energy optimization strategies. Simulation cases assess the impact of shading technologies, wall-window ratios and thermal masses on used thermal energy demand. Based on a previous study about visual and comfort performance, goal was to identify the highest energy efficiency rates with maximum investment cost savings. Besides best comfort results, the most optimal development represents 9% saving in used thermal energy, and they were proposed for further design.

scholarly journals How the COVID-19 Crisis is Showing us the Complexities in the Global Energy Transition

2020 ◽  
Author(s):  
Carlos Germán Meza ◽  
Nilton Bispo Amado ◽  
Ildo Sauer
Keyword(s):  
Energy Demand ◽  
Fossil Fuels ◽  
Renewable Energy Sources ◽  
Energy Transition ◽  
Global Energy ◽  
International Agencies ◽  
Natural Gas Prices ◽  
Alternative Sources ◽  
Post War ◽  
Storage Technologies

The measures for tackling the COVID-19 may shrink the global GDP by approximately 6% in 2020, the deepest post-war recession. As a result, the global energy demand declined by 3.8% in the first quarter of 2020. Concerning fossil fuels, this conjuncture reduced the demand drastically and collapsed the prices to historic levels. Despite the general market disruptions, renewable energy sources (RES) seem to be more resilient to the crisis because they are the only sources that will grow in demand in 2020, driven by priority dispatch. The RES´s significant growth in cumulative installed capacity in the last two decades and the significant cost reductions of RES and energy storage technologies are positive signs towards better market conditions for the global energy transition. Currently, the crisis is seen by international agencies and transition scholars as an opportunity to advance a renewable-based energy transformation. Nevertheless, this article aims at caution about another possibility: if societal changes are not urgently implemented, the crisis may weaken the global energy transition. This article examines this last possibility from a three-level perspective: 1) post-COVID economic recovery, 2) low oil and natural gas prices and competitiveness of alternative sources and, 3) reorganization of the world energy market and the OPEC+. This paper exists to stimulate debate.

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