Natural gas value chain optimization using stochastic integer programming

Event Details
  • Date/Time:
    • Tuesday January 24, 2006 - Monday January 23, 2006
      10:00 am - 11:00 pm
  • Location: Executive Classroom - Main Building, Rm. 228
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Contact
Barbara Christopher
Industrial and Systems Engineering
Contact Barbara Christopher
404.385.3102
Summaries

Summary Sentence: Natural gas value chain optimization using stochastic integer programming

Full Summary: Natural gas value chain optimization using stochastic integer programming

We will present a value chain management model for liberalized natural gas markets. The model describes the integrated planning problem of a natural gas producer including production, transportation, storage and contract management. The decision horizon is normally between 18 months and three years. The capacities of the production fields and the transportation pipeline system limits the gas volumes delivered in the downstream markets. Demand is represented by contracts and spot markets. Contract volumes as well as spot prices are uncertain. The model is implemented as a mixed integer multistage stochastic model. Scenario trees are generated by moment matching. Preliminary results from pilot tests on Statoil's operations on the Norwegian continental shelf will be presented.

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H. Milton Stewart School of Industrial and Systems Engineering (ISYE)

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Status
  • Created By: Barbara Christopher
  • Workflow Status: Published
  • Created On: Oct 8, 2010 - 7:36am
  • Last Updated: Oct 7, 2016 - 9:52pm