Liquefied Natural Gas Ship Route Planning: A Risk Analysis Approach
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© 2015 The Authors 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.
author list (cited authors)
Biobaku, T., Lim, G., Cho, J., Parsaei, H., & Kim, S.