This study proposed a new LCC (life cycle cost) methodology with the risk expenditure taken into account for comparative evaluation of offshore process options at their conceptual design stage. The risk expenditure consisted of the failure risk expenditure and the accident risk expenditure. The...

The notion that individuals have an internal reference price against which they compare observed prices is well supported by several psychological theories. Empirically, several papers in the marketing literature, employing scanner panel data, have modeled the impact of reference prices on brand...

This study proposes a new concept called the cascade Rankine cycle, which recovers LNG (liquefied natural gas) cold energy for power generation, optimizes the cycle by investigating the effects of key parameters on its performance, and compares its thermal efficiency, exergy efficiency and...

A recently enforced international regulation states that a crude oil tanker must have on board and implement a volatile organic compounds (VOCs) management plan that is approved by the administration. There are few thorough investigations that have simultaneously considered the various aspects...

Republic of Korea is the ninth largest CO2 emission country in 2009 according to the International Energy Agency (IEA). To mitigate the effect of CO2 on the climate change and global warming, Korea should reduce the anthropogenic CO2 emissions from sources such as power plants and iron works....

The thermal efficiency of a reheating furnace was predicted by considering radiative heat transfer to the slabs and the furnace wall. The entire furnace was divided into fourteen sub-zones, and each sub-zone was assumed to be homogeneous in temperature distribution with one medium temperature...

Carbon capture and storage (CCS) technology is one of the practical solutions for mitigating the effects of global warming. When captured CO₂ is injected into storage sites, the CO₂ is subjected to a heating process. In a conventional CO₂ injection system, CO₂ cold energy is wasted during this...

In this study, a techno–economic model was used to calculate the costs of CO₂ transport and specify the major equipment required for transport in order to demonstrate and implement CO₂ sequestration in the offshore sediments of South Korea. First, three different carbon capture and storage...