scholarly journals TECHNOECONOMIC ANALYSIS OF REFINING NIGERIAN LIQUEFIED NATURAL GAS CONDENSATE

2021 ◽  
Vol 36 (2) ◽  
pp. 43-54
Author(s):  
I.O Oseni ◽  
E.O Agbonghae ◽  
C.N Nwaozuzu
Keyword(s):  
Natural Gas ◽  
Value Chain ◽  
Net Present Value ◽  
Liquefied Natural Gas ◽  
Oil Price ◽  
Catalytic Reforming ◽  
Price Forecast ◽  
Technoeconomic Analysis ◽  
Light Oil ◽  
Pessimistic Scenario

Condensate refining is among the strategies proposed to solve the light oil glut around the globe. The Nigerian Liquefied Natural Gas (NLNG), which is the Nigerian government’s best performing investment in the natural gas value chain, produces plant condensate as a by-product. In this paper, the economics of a refinery designed to use NLNG plant condensate is evaluated under an optimistic oil price forecast and a pessimistic oil price trend. A gasoline producing refinery configuration was chosen for this study, and it comprises of a naphtha splitter, a Penex isomerisation unit and a Continuous Catalytic Reforming (CCR) unit. The product yields and plant costs were determined by established correlations and industry estimates. The proposed refinery will convert 40,000 bpd plant condensate into 96% gasoline, 3% LPG and 1% hydrogen, and economic indicators such as Net Present Value (NPV), Internal Rate of Return (IRR) and Profitability Index (PI) were used to assess the economic viability of the refinery. The optimistic scenario of oil price forecast resulted in an NPV of $ 531.90 million, an IRR of 20.09% and a PI of 3.16, while the pessimistic scenario gave an NPV of $16.26 million, an IRR of 11.16% and a PI of 1.07. These results prove that a condensate refinery with the proposed configuration is economically feasible and interested investors in Nigeria’s refining space should explore this possibility.

scholarly journals Economic and Technological Analysis of Commercial LNG Production in the EU

Energies ◽  
2019 ◽  
Vol 12 (8) ◽  
pp. 1565 ◽  
Author(s):  
Vladimír Hönig ◽  
Petr Prochazka ◽  
Michal Obergruber ◽  
Luboš Smutka ◽  
Viera Kučerová
Keyword(s):  
Natural Gas ◽  
Energy Security ◽  
Net Present Value ◽  
Gas Production ◽  
Liquefied Natural Gas ◽  
Small Scale ◽  
Present Value ◽  
Alternative Sources ◽  
Technological Analysis ◽  
The Eu

There is a global need to increase the production of alternative sources of energy due to many issues related to conventional sources, such as environmental degradation or energy security. In this paper, decentralized liquefied natural gas production is analyzed. Liquefied natural gas, according to the analysis, can be considered a viable alternative even for decentralized applications Design and economic analysis of a small-scale biogas LNG plan together with the necessary technology and economic evaluation are presented in the paper. The results show that a project of the proposed size (EUR 3 million) offers a relatively good profitability level. Specifically, the net present value of the project is mostly positive (around EUR 0.1 million up to EUR 0.8 million). Therefore, based on the research, small LNG plants operating across the continent can be recommended for the processing of local sources of biogas.

scholarly journals Thermo-Economic Analysis on Integrated CO2, Organic Rankine Cycles, and NaClO Plant Using Liquefied Natural Gas

Energies ◽  
2021 ◽  
Vol 14 (10) ◽  
pp. 2849
Author(s):  
Tri Tjahjono ◽  
Mehdi Ali Ehyaei ◽  
Abolfazl Ahmadi ◽  
Siamak Hoseinzadeh ◽  
Saim Memon
Keyword(s):  
Natural Gas ◽  
Heat Source ◽  
Potable Water ◽  
Net Present Value ◽  
Electrical Power ◽  
Organic Rankine Cycle ◽  
Electrical Energy ◽  
Rankine Cycle ◽  
Payback Period ◽  
Liquefied Natural Gas

The thermal energy conversion of natural gas (NG) using appropriate configuration cycles represents one of the best nonrenewable energy resources because of its high heating value and low environmental effects. The natural gas can be converted to liquefied natural gas (LNG), via the liquefaction process, which is used as a heat source and sink in various multigeneration cycles. In this paper, a new configuration cycle is proposed using LNG as a heat source and heat sink. This new proposed cycle includes the CO2 cycle, the organic Rankine cycle (ORC), a heater, a cooler, an NaClO plant, and reverse osmosis. This cycle generates electrical power, heating and cooling energy, potable water (PW), hydrogen, and salt all at the same time. For this purpose, one computer program is provided in an engineering equation solver for energy, exergy, and thermo-economic analyses. The results for each subsystem are validated by previous researches in this field. This system produces 10.53 GWh electrical energy, 276.4 GWh cooling energy, 1783 GWh heating energy, 17,280 m3 potable water, 739.56 tons of hydrogen, and 383.78 tons of salt in a year. The proposed system energy efficiency is 54.3%, while the exergy efficiency is equal to 13.1%. The economic evaluation showed that the payback period, the simple payback period, the net present value, and internal rate of return are equal to 7.9 years, 6.9 years, 908.9 million USD, and 0.138, respectively.

African oil and gas outlook may prove subdued

2018 ◽  
Keyword(s):  
Natural Gas ◽  
Oil And Gas ◽  
Liquefied Natural Gas ◽  
West African ◽  
Oil Price ◽  
Institutional Reforms ◽  
Content Type ◽  
Oil And Gas Exploration ◽  
Corporate Transparency ◽  
Budget Forecasts

Subject Oil and gas outlook for Africa. Significance BP and Kosmos Energy on December 21 gave the go-ahead for their landmark Greater Tortue Ahmeyim floating liquefied natural gas (LNG) development on the maritime border between Mauritania and Senegal. However, wider hopes of an upturn in West African oil and gas exploration have been tempered by recent oil price fluctuations and disappointing well results. Impacts Several oil exporters may have to revise 2019 budget forecasts to take account of a lower oil price. The industry will operate more cautiously in the lower price environment, with more ambitious drilling programmes deferred. Companies will take account of greater corporate transparency requirements, including open licensing rounds and institutional reforms.

scholarly journals AN APPROACH TO OPTIMISE THE SELECTION OF LNG CARRIERS’ PROPULSION SYSTEM

2017 ◽  
Vol 16 (1) ◽  
pp. 37
Author(s):  
C. H. Marques ◽  
C. R. P. Belchior ◽  
J. -D. Caprace
Keyword(s):  
Natural Gas ◽  
Net Present Value ◽  
Liquefied Natural Gas ◽  
Propulsion System ◽  
Tokyo Bay ◽  
Marine Transport ◽  
Synthesis Design ◽  
Cargo Capacity ◽  
Levels Of Service ◽  
Selection Of

Marine transport of natural gas, mostly in its liquid phase, is of growing importance in the global energy markets. The fleet of liquefied natural gas carriers is thereby increasing and being upgraded to enhance its performance. Since there is no well-defined procedure about how to perform the selection of the propulsion system considering the peculiarities of this kind of vessel, this work intend to fill this gap. In other words, the present article aims to propose an approach so that one can perform the optimised selection of liquefied natural gas carriers’ propulsion system mainly concerning financial aspects. Firstly, some fundamentals about liquefied natural gas and its transport are presented followed by reasons why the traditional steam turbine propulsion plant was abandoned and dual- fuel diesel engines have been applied instead. Then, a list of criteria is discussed and studies that inspired this work are summarised. A case study of a ship with cargo capacity of 174,000 m3 operating between Lake Charles and Tokyo Bay via Panama Canal is selected. Owing to this route and environmental rules, the ship has to travel at three different levels of service speed unlike ordinary ones, which usually keep a steady speed throughout voyage. Maximising the net present value of the project is the objective function that is intended to be achieved by optimising eleven variables regarding synthesis, design and operation of the propulsion system. Finally, it is suggested that this work may assist marine engineers and ship-owners to design and outline the operation of liquefied natural gas carriers.

Liquefied natural gas in China

2000 ◽  
Author(s):  
Dean Girdis ◽  
Stratos Tavoulareas ◽  
Ray Tomkins
Keyword(s):  
Natural Gas ◽  
Liquefied Natural Gas
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