As a result of the expanding global LNG market, contracts are becoming more complex due to significant variations in price formulations, flexibility, duration, lead-time, quality, capacity, commitments, discounts and other terms and conditions. The existence of various uncertainties further complicates the contract selection process. We have presented a 2-stage mixed integer linear programming formalism to select LNG contracts with minimum total procurement cost under uncertain demand and LNG price over the planning horizon.
|Number of pages||5|
|Journal||Computer Aided Chemical Engineering|
|Publication status||Published - 2012|
- Vendor selection