• Environmental and Resource Economics Review
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• v.19 no.4
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• pp.753-769
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• 2010

This study empirically analyzes the comparative advantages between separate hedging and complex hedging in terms of hedging effectiveness when there exist multiple risks of LNG price and exchange rate. According to the empirical ex-ante analysis, the mean of procurement costs could be reduced through hedging regardless of hedging type. In addition, the standard deviation of procurement costs could also be reduced by way of hedging, implying that a hedging should contribute to the stabilization of revenue flows. More importantly, complex hedging could be more effective for some hedging periods than separate hedging in terms of revenue stabilization. Therefore, one could verify that the hedging effects improve by making use of the variance-covariance relationship existing between commodity price and exchange rate.

• Environmental and Resource Economics Review
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• v.24 no.3
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• pp.573-605
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• 2015

This study proposed scenarios of tax reform regarding taxation on bituminous coal for power generation since July 2015 and July 2014, estimated its impact on SMP, settlement price, tax revenue from year 2015 to year 2029. These scenarios are compared with those of the standard scenario. To estimate them, the power system simulation was performed based on the government plan, such as demand supply program and the customized model to fit Korea's power system and operation. Imposing a tax on bituminous coal for power generation while maintaining tax neutrality reducing tax rate on LNG, the short-term SMP is lowered than the one of the standard scenario. Because the cost of nuclear power generation is still smaller than costs of other power generation, and the nuclear power generation rarely determines SMPs, the taxation impact on SMP is almost nonexistent. Thus it is difficult to slow down the electrification of energy consumption due to taxation of power plant bituminous coal in the short term, if SMP and settlement price is closely related. However, in the mid or long term, if the capacity of coal power plant is to be big enough, the taxation of power plant bituminous coal will increase SMP. Therefore, if the tax reform is made to impose on power plant bituminous coal in the short term, and if the tax rate on LNG is to be revised after implementing big enough new power plants using bituminous coal, the energy demand would be reduced by increasing electric charges through energy tax reform. Both imposing a tax on power plant bituminous coal and reducing tax rate on LNG increase settlement price, higher than the one of the standard scenario. In the mid or long term, the utilization of LNG complex power plants would be lower due to an expansion of generating plants, and thus, the tax rate on LNG would not affect on settlement price. Unlike to the impact on SMP, the taxation on nuclear power plants has increased settlement price due to the impact of settlement adjustment factor. The net impact of energy taxation will depend upon the level of offset between settlement price decrease by the expansion of energy supply and settlement price increase by imposing a tax on energy. Among taxable items, the tax on nuclear power plants will increase the most of additional tax revenue. Considering tax revenues in accordance with energy tax scenarios, the higher the tax rate on bituminous coal and nuclear power, the bigger the tax revenues.

• Transactions of the Korean hydrogen and new energy society
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• v.31 no.3
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• pp.302-306
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• 2020

In this study, computer simulation works using PRO/II with PROVISION V10.2 have been performed for a cascade refrigeration cycle using methane, ethylene and propane as refrigerants. LNG cold heat was also utilized in order to save the compression powers for the ethylene and propane refrigeration cycles. It was concluded that about 77% of compression power can be saved by using LNG cold heat through the exchanging heat with refrigerants. We could also know that the cold heat price contained in 1 ton of LNG is 16,155 won.

• Corrosion Science and Technology
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• v.11 no.5
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• pp.179-183
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• 2012

As one of promising solutions to overcome high oil price and energy crisis, the construction market of high value-added LNG plants is spotlighted world widely. The purpose of this study is to introduce LNG-RBI system to develop risk assessment technology with RAM(Reliability, Availability, Maintainability) modules against overseas monopolization. After analyzing relevant specific features and their technical levels, risk assessment program, non-destructive reliability evaluation strategy and safety criteria unification class are derived as core technologies. These IT-based convergence technologies can be used for enhancement of LNG plant efficiency, in which the modular parts are related to a system with artificial optimized algorithms as well as diverse databases of facility inspection and diagnosis fields.

• Plant Journal
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• v.16 no.3
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• pp.37-41
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• 2020

Lately old LNG carriers increased and ship price is getting down. So Interest for reuse and modification of used LNG carriers is growing. Also the needs for replacement of old power plant is increasing. Additionally eco friendly fuel such as LNG become attractive. Consequently gas power plant is getting much more popular than before. So in this research planning, we consider the floating power plant by modifying LNG carriers. This plant has the various function including storage, power plant and bunkering fuction etc. Through this multifunctional plant, we are ready for the old power plant shutdown and energy crisis in the future when we can supply the urgent mobile floating power plant quickly in time.

• Journal of the Korea Convergence Society
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• v.8 no.10
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• pp.185-191
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• 2017

Recently, for such reasons as its inexpensive price and eco-friendliness, LNG has been under the limelight as an alternative fuel for vessels and is expected to grow rapidly in the industry. However, the technology level of domestic shipbuilders in manufacturing the cryogenic pump designed to supply LNG for vessels is so low that design and manufacturing technology of core parts are in urgent need. Therefore, this study describes the stepwise development procedure of cryogenic submerged centrifugal pump for ship LNG supply system. And it aims to suggest practical and specific development methods of the pump by approaching the characteristics of each step and major development items from the standpoint of engineering and management.

• Proceedings of the SAREK Conference
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• 2008.06a
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• pp.148-153
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• 2008

As the oil price is dramatically jumping up, the consumption of LNG is rapidly expanding and the size of LNG carriers becomes bigger. For LNG ships, the application of DF (Dual-Fuel) engines gradually increases because of high efficiency, which alternatively use diesel or BOG (Boil-Off Gas) from cargo tank as a fuel. The surplus BOG from LNG cargo tank should be exhausted by GCU or liquefied through the BOG reliquefaction system and returned back. This study focused into its operational characteristics through the process simulation using HYSYS and discussed details on the influence of the variations of some operational parameters such as a distribution ratio by the change of fuel mass flow into the DF engine.

• Journal of Energy Engineering
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• v.19 no.4
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• pp.246-250
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• 2010

It was measured engine power, specific fuel consumption and exhaust emissions to analyze fuel economy between LNG dual fuel vehicle and base diesel one. The tested LNG dual fuel engine is converted from diesel engine having 12 liter heavy duty class. The power of LNG dual fuel engine is 5% lower than diesel one and the engine efficiency is also lower than diesel case. However the exhaust emission of diesel engine such as PM, NOx, CO and $CO_2$ showed higher than that of LNG duel fuel case except NMHC component. And economical analysis were carried out two cases for an aspect of fuel economy and environmental benefit. As a result, LNG dual fuel vehicle gives some economic benefit to whom both business party and public side respectively though considering the subsidy and price discount for diesel.

• Journal of the Korean Institute of Gas
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• v.18 no.1
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• pp.17-24
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• 2014

LNG storage tank is a facility to store liquefied natural gas (LNG) and its safety and stability to be greatly needed. When there is a LNG leakage in case of primary container problem, a special facility such as a bund wall should be constructed to store the leaked LNG. But this method makes the land usage inefficient and construction price high. So nowadays the full containment type LNG storage tank is selected instead of constructing a bund wall. In the full containment type tank, the concrete sidewall has the ability to store LNG temporarily. There are largely two methods to give the concrete sidewall the ability. In a method, rebar should be used when constructing the side wall of the LNG storage tank. In the other method, the protecting material such as sprayed polyurethane foam should be applied on the inner surface of the concrete sidewall. Sprayed PUF keeps the temperature of the sidewall above the specified temperature during the specified periods. Recently the thermal stability reinforcing method using sprayed polyurethane foam has been applied to all LNG storage tank built in Korea.

• Journal of Advanced Marine Engineering and Technology
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• v.21 no.5
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• pp.564-570
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• 1997

The most important factor for the desalination system is the fresh water production cost dependent upon the possible energy source which should be obtained easily and with low price. Recently in Korea the demand of LNG, as a cheap and clean energy which does not cause an environmental problem, has sharply been increased. In general, LNG is storaged in a tank as a liquid state below -162 'C. When it is serviced, however, the LNG absorbs energy from a heating source and transforms to the gaseous state with high pressure. During this process a huge amount of cold energy accumulated in LNG is wasted. This waste cold energy can be utilized for producing fresh water from sea water using a sea water freezing desalination system. In order to develop a sea water freezing desalination system and to establish its design technique, a qualitative and quantitative data regarding the freezing behavior of sea water is needed in advance. The goal of this study, therefore, are to reveal the freezing mechanism of sea water, to measure the freezing rate, and to investigate the freezing heat-transfer characteristics. The experimental results help to provide a general understanding of the sea water freezing behavior in a Rectangular vessel cooled from below.