FORENSIC ENGINEERING AND EXPERT WITNESS SERVICES
3 June 2024
Liquefied Natural Gas (LNG) plants form an important part of the global infrastructure that transports energy supplies from the exporter to the importer, with a global capacity to liquefy 450 million tonnes of natural gas every year. These projects are large and expensive, involving large numbers of people and various stages of development. A myriad of risks can cause delays or disputes that highlight the trade-offs between the different parties involved.
Key Risks in LNG Plant Construction
1. Technical and Engineering Risks
2. Regulatory and Environmental Risks
3. Supply Chain and Logistical Risks
4. Financial and Economic Risks
5. Labor and Workforce Risks
6. Geopolitical Risks
Strategies to Mitigate Risks
1. Comprehensive Planning and Design
2. Regulatory Engagement
3. Supply Chain Management
4. Financial Planning
5. Workforce Development
6. Geopolitical Risk Assessment
Conclusion
Risk events can often cause construction to be postponed and even cause disputes among stakeholders. However, thorough planning, risk management and stakeholder engagement can make a big difference in alleviating the issues surrounding LNG plants. The operational characteristics and organisational arrangements of LNG projects further shed light on its technological, environmental and social risks. These complex risks make LNG plants a challenging infrastructure for execution. From a perspective of quality management, project managers need to be aware of those project risks and be cautious enough to plan projects and make strategies in advance.
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79a Grapes House
Suite 4, First Floor, Esher
Greater London
United Kingdom
KT10 9QA