Risk Management Study On LNG Terminal Project Under EPC Mode

The LNG industry is a capital-and-technology-intensive industry,which is a new industry in China.The investment of one LNG terminal and pipeline integration project is usually over ten billion.So the risk management study on LNG terminal project is particularly important and necessary.This paper studied a LNG terminal project of CNOOC,which was managed under the EPC general contracting model.The risk management study about EPC project in different fields at home and abroad is rich,but study on LNG terminal project under EPC mode is lack.Firstly,the concept of EPC general contracting mode and risk management theory were discussed.Secondly,the basic conditions of a LNG terminal project and its EPC management process were introduced.Again,the paper analyzed and identified the risk factors of EPC management from the factors dimension and time dimension,and established the risk evaluation index system of LNG terminal project on the basis of EPC mode.Then,risk weight calculation was scientifically implemented using the analytic hierarchy process,and index value was calculated using fuzzy comprehensive evaluation method according to the degree of membership of the index.The results showed that the effect of EPC management in the process of case execution was significant,and thus summed up the successful experience of risk management in the case.The study of this paper can provide valuable experience for the risk management of LNG terminal project in China.