• Korean Journal of Construction Engineering and Management
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• v.12 no.5
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• pp.146-154
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• 2011

Korean contractors have been maintained sustainable growth since entering into overseas construction market for the first time in 1960' s. In 2010, Korean contractors ordered 761 billion (USD) from overseas markets. Especially, billion (USD) were earned by Korean contractors in overseas plant construction market which account for more than 80% of the total amount by Korean contractors. Nevertheless, many Korean contractors are suffering from lack of technological competitiveness and construction management skills in the design phase compared with global leading contractors. These conditions have directly effect on the success of projects in terms of cost, duration, and quality. So, this study focused on identifying the risk factors and developing risk priority method for the design phase of LNG plant projects whose market is expanding. Research procedures were conducted by the following three steps. First, total 57 risk factors were identified in design phase through extensive literature reviews and experts survey. Second, the authors developed risk priority method which are more suitable for design phase of LNG plant projects by using three criteria, Probability(P), Impact(I), and Coordination Index(CI). Finally, the suitability of risk priority method and practical applicability were verified through expert survey and interview. Consequently, if korean contractors use the suggested risk factors and priority method based on their own know-how and experiences, then more reasonable and rational risk management will be conducted in the design phase of LNG plant projects.

• International Journal of Naval Architecture and Ocean Engineering
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• v.6 no.2
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• pp.307-322
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• 2014

With the rate of worldwide LNG demand expected to grow faster than that of gas demand, most major oil companies are currently investing their resources to develop floating LNG-FLNG (i.e. LNG FSRU and LNG FPSO). The global Floating LNG (FLNG) market trend will be reviewed based on demand and supply chain relationships. Typical technical issues associated with FLNG design are categorized in terms of global performance evaluation. Although many proven technologies developed through LNG carrier and oil FPSO projects are available for FLNG design, we are still faced with several technical challenges to clear for successful FLNG projects. In this study, some of the challenges encountered during development of the floating LNG facility (i.e. LNG FPSO and FSRU) will be reviewed together with their investigated solution. At the same time, research of new LNG-related technologies such as combined containment system will be presented.

• Journal of Advanced Marine Engineering and Technology
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• v.38 no.10
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• pp.1354-1359
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• 2014

A survey is carried out for the future energy sources to be used for ship's propulsion and ship's machinery and operations. 44 global experts from Korea, America, Norway, Denmark, Japan and German who are currently working in the shipyard and offshore fields participated at the survey. Quantitative predications on the market shares of various energy sources, such as oil, LNG, fuel cell, wind energy, solar energy and nuclear energy are made. MPI (market prediction index) is considered as a quantitative index for easy comparison between future's energy sources used for ship's propulsion and operations. It is expected that the MPI of LNG becomes twofold in 2020 against 'before 2016'. It could be also said that hydrogen based fuel cell is expected to increase rapidly for the coming years unless a new alternative energy appears.

• Corrosion Science and Technology
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• v.11 no.5
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• pp.179-183
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• 2012

As one of promising solutions to overcome high oil price and energy crisis, the construction market of high value-added LNG plants is spotlighted world widely. The purpose of this study is to introduce LNG-RBI system to develop risk assessment technology with RAM(Reliability, Availability, Maintainability) modules against overseas monopolization. After analyzing relevant specific features and their technical levels, risk assessment program, non-destructive reliability evaluation strategy and safety criteria unification class are derived as core technologies. These IT-based convergence technologies can be used for enhancement of LNG plant efficiency, in which the modular parts are related to a system with artificial optimized algorithms as well as diverse databases of facility inspection and diagnosis fields.

• Analyses & Alternatives
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• v.5 no.2
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• pp.77-105
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• 2021

Natural gas consumption in Asia is growing at fast tempo because of various factors such as economic growth in the region, urbanization, coal-to-gas switch at power and industry sector. Due to geographical characteristics and lack of international pipeline connections between countries in the continent, majority of natural gas exported to Asian consumers is transported by tankers on the sea in the form of liquefied natural gas. As Asian market is the most lucrative market with the fastest demand growth, the competitions between LNG sellers for market share in Asian market are strengthening. The competitions accelerated, especially after the introduction of large volume of incremental supply into the market by new exporters from the U.S., Australia, and Russia. Cheniere Energy, the first exporter of liquefied natural gas (LNG) in the lower 48 states of U.S. has not adopted the traditional price formation mechanism and business model. Traditionally, prices of long-term LNG contracts have been indexed to the price of competing fuels, such as crude oil. The company adopted a pricing mechanism and business model based on a cost-plus system. Cheniere Energy opted for the safer and the risk-free pricing system, that annually guarantees a fixed amount of revenue to the seller. The company earns the same amount of money, regardless of natural gas price dynamics in the domestic and international market, but possibly with less revenue. However, by introducing and successfully implementing the safer and risk- free business model, Cheniere Energy, a company of a relatively smaller size in comparison with major oil and gas companies, became an example to other smaller-sized companies in the U.S. The company's business model demonstrated how to enter and operate LNG business amid increasing competitions among sellers in the U.S. and international market.

• Proceedings of the Korean Society of Marine Engineers Conference
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• 2006.06a
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• pp.181-182
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• 2006

최근 미주의 급격한 LNG 수요와 더불어 Safety, 환경 및 테러의 문제를 안고 있는 육상 LNG terminal의 대안으로 등장한 LNG Regasification Vessel의 시장 전망과 미주 지역의 엄격한 환경 규제를 만족시키기 위한 Regasification Vessel의 기술 동향에 대해 고찰하였다.

• Journal of Advanced Marine Engineering and Technology
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• v.32 no.6
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• pp.841-846
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• 2008

Recently the LNG(liquified natural gas) public buses have been introduced to prevent the air pollution in metropolitan areas. As the LNG temperature in fuel tank is as low as $-162^{\circ}C$. the thermal and structural effects of tank components need to be studied for safe introduction in the market. Especially the support system of LNG fuel tank in vehicle, which has connected with inside and outside of tanks, should put attention to reduce the structural stress due to cryogenic temperature and to restrict the heat flux from ambient. There are two supporting systems in the tank, that one is connected between inside and outside tanks by welding, and the other is the inserted support system which is a cylindrical SUS bar inserted in a hole of the supporting plate. In this study the temperature distribution and thermal stress of the inserted support system were evaluated by using the utility program as ANSYS. The results showed that the rate of heat transfer to inner tank through this support system was quite small due to limited contact of support bar with plate. but the thermal stress of support plate was obtained beyond the limited tensile value of SUS304. The cautious design for the support plate part, therefore, should be given to make the safe support system of LNG vehicle fuel tank.

• Journal of Ship and Ocean Technology
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• v.12 no.1
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• pp.35-44
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• 2008

As arctic energy resource is attracting public attention, arctic shipping market will also be growing in large as expected to increase in LNG trade from Arctic area to the western countries by shipping. During the voyages through such routes, collision with icebergs may be possible. In the present report, ice collision analyses are carried out from a practical point of view to verify the safety of hull structural strength of LNG carriers equipped with GTT $MKIII^{TM}$ membrane type cargo containment system. From the results of collision analyses and the operation-friendly design concept of no-repairing of cargo containment system, a safe operating envelope against ice collision is proposed for LNG carriers of membrane type cargo containment system. Based on the currently proposed safety criteria, it is concluded that LNG carriers with membrane tank type can operate safely with regard to the integrity of CCS in regions where collision between LNG carrier and iceberg is expected.

• Journal of the Korean Institute of Illuminating and Electrical Installation Engineers
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• v.28 no.7
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• pp.97-105
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• 2014

This article examines the causality relationship among SMP, base-load share, LNG import price, and exchange rate in Korean power market during 2002~2012, using unit root test, cointegration test, and vector error correction model(VECM). The cointegration test shows that 4 variables without unit root have been in the long-run causality. As the results of ECM, SMP is analyzed to have been unilaterally caused from LNG import price and base-load share in the shot-run, while it has been unilaterally caused from LNG import price and exchange rate in the long-run. This article has the following policy implications: the adjustment of exchange rate to reduce he risk of LNG import price and the proper securement of base-load share for the long-run stability of SMP.

• Journal of Energy Engineering
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• v.10 no.3
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• pp.233-242
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• 2001

This paper attempts to analyze the effects of promotion of natural gas vehicles (NGVs) on LNG storage facilities and load patterns, and to verify economic feasibilities of NGVs as a DSM (Demand-Side Management) strategy. For these purpose, we have established an econometric mode. Results from the model indicate that natural gas demand in transportation sector will increase continuously, having a 7.84% share in total natural gas demand in 2014. By this analysis, the increased use of NGVs can result in a decreased requirement on the volume of around 1.3 LNG tanks lower in 2014. Also, it shows that TDRs can be reduced by 0.4 for the city gas and by 0.15 for the total LNG in 2014. As a conclusion, we suggest that the promotion of NGVs may play an efficient role as a DSM strategy, and should be considered as a promising strategy to optimize the investment needs in LNG sector as well as an environmental protection measures. Lastly, we acknowledge that a transportation module in our model is based on a Korean government's NGVs promotion plan, not on a market function.