Please use this identifier to cite or link to this item: https://doi.org/10.1016/j.compchemeng.2011.04.005
Title: Investment portfolios under uncertainty for utilizing natural gas resources
Authors: Khalilpour, R.
Karimi, I.A. 
Keywords: CNG
Gas utilization
GTL
LNG
Natural gas
Portfolio optimization
Stranded fields
Issue Date: 14-Sep-2011
Citation: Khalilpour, R., Karimi, I.A. (2011-09-14). Investment portfolios under uncertainty for utilizing natural gas resources. Computers and Chemical Engineering 35 (9) : 1827-1837. ScholarBank@NUS Repository. https://doi.org/10.1016/j.compchemeng.2011.04.005
Abstract: Numerous reasons including lower carbon and sulfur emissions have led to the rapid growth of natural gas (NG) demand. However, more than one-third of world NG reserves are stranded, i.e., either remote (e.g., offshore) or in regions with saturated markets. This reality makes the investment decisions complex and uncertain for NG field developers. In this study, we consider the case of a company that wishes to develop a stranded natural gas reserve for some potential nearby markets under uncertain prices of crude oil and feed gas, and demands of liquefied NG (LNG), compressed NG (CNG), and gas-to-liquid (GTL) products. We present a 2-stage stochastic mixed-integer linear program (MILP) that yields maximum-ENPV (expected NPV) decisions on production capacities, market allocations, and delivery vessels. The small model size allows us to consider many stochastic scenarios in our scenario-based approach. We illustrate our approach using several examples. © 2011 Elsevier Ltd.
Source Title: Computers and Chemical Engineering
URI: http://scholarbank.nus.edu.sg/handle/10635/89292
ISSN: 00981354
DOI: 10.1016/j.compchemeng.2011.04.005
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