Multi-objective optimization of a joule cycle for re-liquefaction of the Liquefied Natural Gas

A LNG re-liquefaction plant is optimized with a multi-objective approach which simultaneously considers exergetic and exergoeconomic objectives. In this regard, optimization is performed in order to maximize the exergetic efficiency of plant and minimize the unit cost of the system product (refrigeration effect), simultaneously. Thermodynamic modeling is performed based on energy and exergy analyses, while an exergoeconomic model based on the total revenue requirement (TRR) are developed. Optimization programming in MATLAB is performed using one of the most powerful and robust multi-objective optimization algorithms namely NSGA-II. This approach which is based on the Genetic Algorithm is applied to find a set of Pareto optimal solutions. Pareto optimal frontier is obtained and a final optimal solution is selected in a decision-making process. An example of decision-making process for selection of the final solution from the available optimal points of the Pareto frontier is presented here. The feature of selected final optimal system is compared with corresponding features of the base case and exergoeconomic single-objective optimized systems and discussed.