Advanced exergetic analysis of a novel system for generating electricity and vaporizing liquefied natural gas

LNG technology has been in use since the 1960s. During the last 20 years the total cost of LNG technology has decreased by 30% due mainly to improvements of the liquefaction process and shipping. However, the regasification system has not been significantly improved. The paper presents a detailed advanced exergetic analysis of a novel co-generation concept that combines LNG regasification with the generation of electricity. The analysis includes splitting the exergy destruction within each component into its unavoidable, avoidable, endogenous and exogenous parts as well as a detailed splitting of the avoidable exogenous exergy destruction. The results of the advanced exergetic analysis are confirmed through a sensitivity analysis. Finally, some suggestions for improving the overall system efficiency are developed.