Developing a Life Cycle Cost Analysis Tool for Floating Storage Regasification Unit (FSRU) Operations

Konstantinou, Dimitra Lamprini

dc.contributor.author	Konstantinou, Dimitra Lamprini
dc.date.accessioned	2021-06-01T09:19:18Z
dc.date.available	2021-06-01T09:19:18Z
dc.identifier.uri	https://dspace.lib.ntua.gr/xmlui/handle/123456789/53530
dc.identifier.uri	http://dx.doi.org/10.26240/heal.ntua.21228
dc.rights	Default License
dc.subject	LCCA	en
dc.subject	GHG	en
dc.subject	LNG	en
dc.subject	FSRU	en
dc.subject	LCA	en
dc.subject	ΦΥΣΙΚΟ ΑΕΡΙΟ	el
dc.subject	ΠΛΩΤΗ ΜΟΝΑΔΑ ΑΠΟΘΗΚΕΥΣΗΣ ΚΑΙ ΕΠΑΝΑΕΡΙΟΠΟΙΗΣΗΣ ΥΓΡΟΠΟΙΗΜΕΝΟΥ ΦΥΣΙΚΟΥ ΑΕΡΙΟΥ	el
dc.subject	ΑΕΡΙΑ ΤΟΥ ΘΕΡΜΟΚΗΠΙΟΥ	el
dc.subject	ΑΝΑΛΥΣΗ ΚΥΚΛΟΥ ΖΩΗΣ	el
dc.subject	ΚΟΣΤΟΣ ΖΩΗΣ	el
dc.title	Developing a Life Cycle Cost Analysis Tool for Floating Storage Regasification Unit (FSRU) Operations	en
dc.title	Ανάπτυξη Εργαλείου Ανάλυσης Κύκλου Ζωής για Πλωτές Μονάδες Αποθήκευσης και Επαναεριοποίησης ΥΦΑ	el
dc.contributor.department	Division of Ship Design and Maritime Transport	el
heal.type	bachelorThesis
heal.generalDescription	The aim of this thesis is the development of a Life Cycle Cost Analysis tool for Floating Storage and Regasification Units (FSRUs). FSRU is a special type of ship used for LNG storage, where Liquified Natural Gas is regasified and transferred to the shore. The FSRU as a concept was first developed in 2005, driven by the need for a fast delivery and cost effective storage and regasification of LNG. Since then, the FSRU fleet has expanded, in line with the LNG market expansion. Life Cycle Cost Analysis (LCCA) is a tool utilized to determine the most cost-effective option, among alternative FSRU operating schemes, to purchase, own, operate, maintain and finally dispose of an object or process when each one is equally appropriate to be implemented on technical grounds. This thesis also explores the environmental impact of the operation of the FSRU, as would be done in a Life Cycle Analysis (LCA) study, in order obtain a more comprehensive insight into the overall FSRU operation. The model developed was used to study the Wilhelmshaven FSRU project.	en
heal.classification	Economics	en
heal.classification	Maritime	el
heal.language	en
heal.access	free
heal.recordProvider	ntua	el
heal.publicationDate	2020-03-20
heal.abstract	In this thesis, a Life Cycle Cost Analysis model is developed in order to assess the acquisition, operation and disposal of Floating Storage and Regasification Units (FSRUs). FSRUs are a special type of LNG vessel which can receive LNG, through ship to ship operation, store and regasify it in order to send it out to the shore. The FSRUs can be moved from site to site depending on the gas export demand and can even be operated as conventional LNG carriers in case required. The FSRU market has emerged as a cost effective and flexible alternative to the traditional land based storage and regasification plants. The FSRU market has also been fueled by the overall growth of the LNG market, largely driven by the move to cleaner fossil fuels, and the need of ship-owners to reutilize excess shipping capacity as well as the necessity to satisfy seasonal gas demand. In certain markets-locations. The Life Cycle Cost Analysis method LCCA takes into account all different costs accruing from an investment including the purchase, ownership, operation, maintenance and disposal of the various investment options in order to calculate the most profitable investment among different alternatives. The biggest challenge in an LCCA study is the precision of the future economic cash flows. This study takes into account the acquisition expenses and operational and disposal expenses of the investment. Additionally, driven by the increasingly strict environmental regulations, this study emphasizes the need to take into account the impact of the operation of the unit to the environment. The environmental impact of the asset is included in the study through estimating and expressing in monetized values the Green House Gases emissions of the unit with an option to include them into the financial analysis. The tool developed is used to assess the investment of the Wilhelmshaven FSRU to be located in the Wilhelmshaven port in Germany which is planned to be owned, financed and operated by Mitsui O.S.K. Lines while Uniper will act as project developer. The Wilhelmshaven FSRU has a planned send-out capacity of 10 bcma and an LNG storage capacity of 263,000 cubic meters. Results of the analysis revealed, amongst others, the importance of the gas export demand in the financial performance of the investment, particularly in case that the FSRU is not time chartered but operated on a charge per unit of gas exported basis. The influence of the monetized GHG emissions was also demonstrated.	en
heal.advisorName	Lyridis, Dimitrios
heal.committeeMemberName	Lyridis, Dimitrios
heal.committeeMemberName	Koletsos, Ioannis
heal.committeeMemberName	Tolis, Athanasios
heal.academicPublisher	Σχολή Ναυπηγών Μηχανολόγων Μηχανικών	el
heal.academicPublisherID	ntua
heal.numberOfPages	85
heal.fullTextAvailability	false