Optimal LNG (liquefied natural gas) regasification scheduling for import terminals with storage

Ian Michael Trotter, Marília Fernandes Maciel Gomes, Marcelo José Braga, Bjørn Brochmann, Ole Nikolai Lie

Abstract

We present a revenue maximisation model for LNG (liquefied natural gas) storage tanks at import terminals, with three resolution strategies: posterior optimal, rolling intrinsic and full option. The full option strategy is based on a least-squares Monte Carlo algorithm. Model simulations show potential for higher revenue in three UK LNG terminals. Numerical experiments show how storage and regasification capacities affect revenue.