THE PIPELINE PROJECT

2020 ◽  
Vol 182 ◽  
pp. 57-74
Author(s):  
Kevin Loring ◽  
Quelemia Sparrow ◽  
Sebastien Archibald
Keyword(s):  
Pipeline Project

Construction material supply risk management using Asian option contracts: the case of a pipeline project

2020 ◽  
Vol 27 (10) ◽  
pp. 3395-3414
Author(s):  
Mohammad Vahdatmanesh ◽  
Afshin Firouzi
Keyword(s):  
Risk Management ◽  
Scenario Analysis ◽  
Price Risk ◽  
Asian Option ◽  
Steel Pipeline ◽  
Content Type ◽  
Price Fluctuations ◽  
Option Contracts ◽  
Pipeline Project ◽  
Total Price

PurposeSteel price uncertainty exposes pipeline projects that are inherently capital intensive to the risk of cost overruns. The current study proposes a hedging methodology for tackling steel pipeline price risk by deploying Asian option contracts that address the shortcomings of current risk mitigation strategies.Design/methodology/approachA stepwise methodology is introduced, which uses a closed-form formula as an Asian option valuation method for calculating this total expenditure. The scenario analysis of three price trends examines whether or not the approach is beneficial to users. The sensitivity analysis then has been conducted using the financial option Greeks to assess the effects of changes in volatility in the total price of the option contracts. The total price of the Asian options was then compared with those of the European and American options.FindingsThe results demonstrate that the Asian option expenditure was about 1.87% of the total cost of the case study project. The scenario analysis revealed that, except for when the price followed a continuous downward pattern, the use of this type of financial instrument is a practical approach for steel pipeline price risk management.Practical implicationsThis approach is founded on a well-established financial options theory and elucidates how pipeline project participants can deploy Asian option contracts to safeguard against steel price fluctuations in practice.Originality/valueAlthough the literature exists about the theory and application of financial derivative instruments for risk management in other sectors, their application to the construction industry is infrequent. In the proposed methodology, all participants involved in fixed price pipeline projects readily surmount the risk of exposure to material price fluctuations.

Surviving the Jackson Drive Interconnect Pipeline Project

2007 ◽  
Vol 2007 (8) ◽  
pp. 8612-8618
Author(s):  
Shannon Reed ◽  
Patricia A. Tennyson
Keyword(s):  
Pipeline Project

Girth Weld Strength Matching Effect on Tensile Strain Capacity of Grade X70 High Strain Line Pipe

2018 ◽  
Author(s):  
Hisakazu Tajika ◽  
Takahiro Sakimoto ◽  
Tsunehisa Handa ◽  
Rinsei Ikeda ◽  
Joe Kondo
Keyword(s):  
High Strain ◽  
Limit State ◽  
Full Scale ◽  
Bending Test ◽  
High Grade ◽  
Line Pipe ◽  
Bending Tests ◽  
Strain Capacity ◽  
Pipeline Project ◽  
Pipe Bending

Recently high grade pipeline project have been planned in hostile environment like landslide in mountain area, liquefaction in reclaimed land or the frost heave in Polar Regions. Geohazards bring large scale ground deformation and effect on the varied pipeline to cause large deformation. Therefore, strain capacity is important for the pipeline and strain based design is also needed to keep gas transportation project in safe. High grade steel pipe for linepipe tends to have higher yield to tensile (Y/T) ratio and it has been investigated that the lower Y/T ratio of the material improves strain capacity in buckling and tensile limit state. In onshore pipeline project, pipe usually transported in 12 or 18m each and jointed in the field. Girth weld (GW) is indispensable so strength matching of girth weld towards pipe body is important. In this study strain capacity of Grade X70 high strain pipes with size of 36″ OD and 23mm WT was investigated with two types of experiments, which are full scale pipe bending tests and curved wide plate tests. The length of the specimen of full scale bending tests were approximately 8m and girth weld was made in the middle of joint length. A fixed internal pressure was applied during the bending test. Actual pipe situation in work was simulated and both circumferential and longitudinal stress occurred in this test. Test pipes were cut and welded, GTAW in first two layer and then finished by GMAW. In one pipe, YS-TS over-matching girth weld (OVM) joint was prepared considering the pipe body grade. For the other pipe, intentionally under-matching girth weld (UDM) joint was prepared. After the girth welding, elliptical EDM notch were installed in the GW HAZ as simulated weld defect. In both pipe bending tests, the buckling occurred in the pipe body at approximately 300mm apart from the GW and after that, deformation concentrated to buckling wrinkle. Test pipe breaking locations were different in the two tests. In OVM, tensile rupture occurred in pipe body on the backside of buckling wrinkle. In UDM, tensile rupture occurred from notch in the HAZ. In CWP test, breaking location was the HAZ notch. There were significant differences in CTOD growth in HAZ notch in these tests.

Pressure Test Planning to Prevent Internal Corrosion by Residual Fluids

2012 ◽  
Author(s):  
Trevor Place ◽  
Greg Sasaki ◽  
Colin Cathrea ◽  
Michael Holm
Keyword(s):  
Structural Integrity ◽  
Large Diameter ◽  
Long Distance ◽  
Internal Corrosion ◽  
Pressure Testing ◽  
Practical Strategy ◽  
Leak Testing ◽  
Pressure Test ◽  
Transmission Pipeline ◽  
Pipeline Project

Strength and leak testing (AKA ‘hydrotesting’, and ‘pressure testing’) of pipeline projects remains a primary method of providing quality assurance on new pipeline construction, and for validating structural integrity of the as-built pipeline [1][2][3]. A myriad of regulations surround these activities to ensure soundness of the pipeline, security of the environment during and after the pressure testing operation, as well as personnel safety during these activities. CAN/CSA Z662-11 now includes important clauses to ensure that the pipeline designer/builder/operator consider the potential corrosive impacts of the pressure test media [4]. This paper briefly discusses some of the standard approaches used in the pipeline industry to address internal corrosion caused by pressure test mediums — which often vary according to the scope of the pipeline project (small versus large diameter, short versus very long pipelines) — as well as the rationale behind these different approaches. Case studies are presented to highlight the importance of considering pressure test medium corrosiveness. A practical strategy addressing the needs of long-distance transmission pipeline operators, involving a post-hydrotest inhibitor rinse, is presented.

The Development of Large Diameter and Thickness X80 HSAW Linepipe

2008 ◽  
Author(s):  
Weiwei Li ◽  
Chunyong Huo ◽  
Qiurong Ma ◽  
Yaorong Feng
Keyword(s):  
Bauschinger Effect ◽  
Pipeline Steel ◽  
Large Diameter ◽  
Base Material ◽  
Longitudinal Direction ◽  
Strength Loss ◽  
Ring Test ◽  
Low Carbon ◽  
Pipeline Project ◽  
Submerged Arc

For the requirement of 2nd West-East Pipeline Project of China, X80 large diameter & thickness linepipe with helical seam submerged arc welded (HSAW) were developed, with 1219 mm OD and 18.4 mm WT. Acicular ferrite type and super-low carbon, high Niobium chemical composition pipeline steel was adopted for the base material. The very stringent requirements at −10 °C for toughness, i.e. 220J/170J for average/minimum for pipe body and 80J/60J for average/minimum for weld and HAZ were meet successfully. The yield strength loss due to Bauschinger effect was found lower than 20MPa, which benefited. The very low residual stress level was testified by cut-ring test which cuts a section pipe about exceed 100mm long, and then cut the section apart from welds 100mm along the longitudinal direction.

scholarly journals The Trans Quebec & Maritimes Pipeline Project : The jurisdictional debate in the area of land planning

2005 ◽  
Vol 23 (1) ◽  
pp. 175-247
Author(s):  
Nicolas Roy
Keyword(s):  
Present Article ◽  
Premier Lieu ◽  
Land Planning ◽  
Pipeline Project ◽  
Proprement Dite

Élément chef de la Politique énergétique nationale (PEN) énoncée par le Gouvernement fédéral en octobre 1980, l'extension du réseau de transmission de gaz naturel depuis Montréal jusqu'aux provinces Maritimes, par la Société Gazoduc Trans Québec & Maritimes Inc. (TQ & M) se veut le second lien d'acier depuis la construction des réseaux ferroviaires nationaux du siècle dernier. La réalisation de ce projet, en sus de ses dimensions politiques et économiques, génère de nombreuses tensions en matière d'aménagement du territoire que le régime juridique applicable se doit de cerner et de résoudre. Le présent article s'attache donc à analyser la problématique juridique dans laquelle s'inscrit la réalisation d'un projet d'une telle envergure au Québec. En premier lieu, les caractéristiques et l'évolution historique dudit projet sont présentées. Par la suite, nous discutons brièvement des principes de droit constitutionnel qui sous-tendent l'intervention des gouvernements fédéral et provincial. Puis, nous étudions en détail l'approche suivie par les intervenants relativement au choix du tracé du gazoduc (aménagement du territoire, protection des terres agricoles et environnement) pour compléter, enfin, par un aperçu des mécanismes d'appropriation du sol requis pour la construction proprement dite de cet ouvrage.

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