Abstract
Abstract This study presents a methodology based on the Life Cycle Cost (LCC) to define the optimum yearly Liquefied Natural Gas (LNG) production of a Floating LNG (FLNG) based on the proven gas reserve of an Associated Gas (AG) Field. This methodology developed specifically for these specific FLNG Concepts can be extrapolated to other type of FLNGs such as full-fledged FLNGs. For this purpose, several FLNG concepts of Associated Gas (AG) FLNGs are compared. A previous study presented to the OMAE under OMAE2016 – 55152 is used to develop variations based on the same concept with one liquefaction train and two liquefaction trains for both nitrogen refrigerant and Single Mixed Refrigerant (SMR) concepts. These concepts are defined as follows: Case A-1: 1 liquefaction train - nitrogen used as refrigerantCase A-2: 2 liquefaction trains - nitrogen used as refrigerantCase B-1: 1 liquefaction train - SMR used as refrigerantCase B-2: 2 liquefaction trains - SMR used as refrigerant These FLNG concepts are designed to monetize associated gas from existing offshore fields located within convenient distance of an existing LNG plant or port with LNG storage facility. The economic model assesses the LCC using Net Present Value (NPV) for both cases. The LCC and Internal Rate of Return (IRR) show that each concept has its own merits depending on gas reserve and production profile. The study provides details on areas of applications for each FLNG concept and how it is influenced by key parameters such as reserve size, production profile, discount rate, estimation accuracy, and development phase. Based on this, the study provides guidance for the selection of the optimum LNG production capacity for an associated gas production profile with reserves from 0.5 TCF to 1.5 TCF.
Published Version
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