DNVGL.com

FSRU to Power – cumulative risk evaluation tool

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Zainal Abdeen Zainal Abdeen
Principal Consultant - Safety, Risk & Reliability

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FSRU to Power – cumulative risk evaluation tool

Challenge

To have a high-level overview of the risks involved in the whole LNG to Power value chain of FSRU projects. These are potential risks faced by several stakeholders, such as FSRU operators, energy providers, gas suppliers, underwriters and regulators. This screening tool will help all project stakeholders to make informed decisions during the concept/pre-FEED stage.

Solution

  • Develop a high level online screening tool to enable clients to visualize the risks associated with the full LNG to Power supply chain (from LNG supplies to offtakers) through drawing together data sets from DNV GL’s existing project data (e.g. collision risk, pipeline risk, environmental risk etc.). 
  • Develop an interactive platform/tool to provide a cumulative risk “score” and enable rapid drill down to the risks associated with the various elements of the supply chain.

Benefits

Operators and underwriters would be able to more easily assess project risk;
  • Operators could modify the project or add mitigation measures to reduce or manage the risks;
  • Asset owners and operators could receive discounted insurance premiums from underwriters if risks adequately modelled; and
  • FSRU suppliers would benefit from being able to demonstrate the benefits of improved working practices.