Profitability, reliability and condition based monitoring of LNG floating platforms: A review

The efficiency and profitability of Floating, Production, Storage and Offloading platform (FPSO) terminals depends on various factors such as LNG liquefaction process type, system reliability and maintenance approach. This review is organized along the following research questions: (i) what are the economic benefit of FPSO and how does the liquefaction process type affect its profitability profile?, (ii) how to improve the reliability of the liquefaction system as key section? and finally (iii) what are the major CBM techniques applied on FPSO. The paper concluded the literature and identified the research shortcomings in order to improve profitability, efficiency and availability of FPSOs.