Economic analysis on PRICO process for natural gas liquefaction based on TCI criteria

Abstract

Liquefied Natural Gas has become a global fuel with an annual trade volume growth of more than 7%, an expected growth of 6.7% per year until 2020 and with a current trade volume of over 240 million tons. There were seven main liquefaction technologies in use, the most common one being the PRICO process, also known as Single Mixed Refrigerant (SMR). PRICO LNG process comprises of only single mixed refrigerant and one NG stream, thus makes it the simplest LNG process exists so far. This paper applies economic analysis to a PRICO process to determine the Total Capital Investment (TCI). The analysis in this paper using the results that was obtained from energetic analysis by executed the simulation using DWSIM software. The results obtained after calculated the TCI later is discussed with a few criteria of TCI itself.

Keywords: LNG; PRICO; economic; total capital investment; DWSIM