Decision-Making on Liquefied Natural Gas (LNG) projects using game theory

Liquefied Natural Gas (LNG) plays a major role in the energy market. LNG projects are cost intensive investments and the Decision- Making (DM) process involves an extensive set of complex variables and approval phases. In order to reduce the risk of such projects, systematic design frameworks are needed which can consider the different phases of the project and the different actors involved. In this work a n-level framework for DM of LNG projects is proposed. The framework consists of a multi-objective DM procedure based on game theory. The most relevant aspect of the model is that the operational conditions of the equipments can be included into the procedure. In this manner each entity in an LNG value chain plays a specific role for DM over the overall project.