Economic analysis on PRICO process for liquefaction of natural gas
Aida Izwana, Md Bakhri
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The PRICO process is a single mixed-refrigerant process used for small-scale LNG plants, including offshore terminals. The working fluid (refrigerant) is a mixture of methane, ethane, butane and nitrogen. The behavior of the mixture in processes such as cooling, heating, compression, evaporation and condensation depends on its composition and on the part of the chemical constituents of the mixture that are in the gas and liquid phases. The state-of-the art for the evaluation and optimization of the PRICO process is discussed. The perspectives from the thermodynamic and economic points of view are discussed. Based on the estimated fixed-capital investment and the assumptions for the economic, financial, operating, and market input variables, the total revenue requirement (TRR) is calculated. The non-uniform annual monetary values associated with the investment (carrying charges, CC), operation & maintenance (OMC), and fuel costs (FC) of the system being analyzed are levelized, that is they are converted into an equivalent series of constant payments (annuities). This report technically presents the calculation and results of TRR.