Strategies for Process and Size Selection of Natural Gas Liquefaction Processes: Specific Profit Portfolio Approach by Economic Based Optimization

Abstract

This study focuses on the strategies for process and size selection of various natural gas liquefaction processes by economic based optimization. As various types of liquefaction processes can be differentiated by their energy efficiency and equipment requirements, the energy requirement and cost of a liquefaction process have to be considered simultaneously to find the optimal process for a given plant size. Herein, we developed two mathematical models, i.e., the thermodynamic model and cost model, based on the unit equipment that were integrated into a profit optimization model that could be applied to various natural gas liquefaction processes and plant sizes. In this study, the profit optimization model was applied to three representative natural gas liquefaction processes: single mixed refrigerant (SMR), dual mixed refrigerant (DMR), and propane precooled mixed refrigerant (C3MR) processes. The capacity of the plants ranged from 1 to 7 million tons per annum (MTPA). As a result of profit optimization, specific profit portfolios were obtained and the economical plant size ranges were figured out: 1–2.2 MTPA for the SMR process, 2.2–4 MTPA for the DMR process, and 4–7 MTPA for the C3MR process.

Portfolio selection: a fuzzy-ANP approach

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Efficient Heat Exchange Configuration for Sub-Cooling Cycle of Hydrogen Liquefaction Process

“…2 (10) where C E,comp is the purchase cost of the compressor, . W comp is the power requirement of the compressor, C E,exp is the purchase cost of the expander, .…”

“…However, hydrogen has a low boiling point, and its liquefaction process is thus energy intensive [8]. Natural gas liquefaction processes, which are also energy-intensive processes [9], consume between 0.271 kWh/kg LNG (Liquefied Natural Gas) and 0.352 kWh/kg LNG [10], whereas commercially available hydrogen liquefaction processes require between 11.9 and 15 kWh/kg LH 2 , which is approximately 50 times the amount of energy required for natural gas liquefaction [11]. This large amount of energy consumed during the hydrogen liquefaction process is related to several factors: first, the boiling point of hydrogen is approximately 20 K, which is approximately 90 K lower than that of natural gas [12].…”

Process Integration of an Autothermal Reforming Hydrogen Production System with Cryogenic Air Separation and Carbon Dioxide Capture Using Liquefied Natural Gas Cold Energy

“…With the high demand for natural gas (NG), the global trade volume of liquefied natural gas (LNG) increased by 28.2 MT in 2018, setting a record of 316.5 MT . LNG is obtained via a liquefaction process, yielding a liquid with a temperature of −163 °C at atmospheric pressure. − Since one cubic meter of LNG occupies 625 cubic meters in gaseous form, LNG is a major transportation method for shipping long distances. , Once it arrives at the shipping destination terminal, the LNG is regasified and distributed to the gas pipe grid for industrial applications. Among the various options for hydrogen production, the conversion of NG to syngas via steam methane reforming (SMR) is the primary process .…”