About LNG Custody Companion

The LNG Custody Transfer process is of critical importance to LNG trade, and most LNG contracts describe in detail the Measurement and Testing (M&T) methods for LNG energy content calculations and also require use of independent, third-party LNG Cargo Inspectors.  Even with the advent of compact, powerful computers, cloud-computing capability, and the digitalization of many business applications, thermal energy calculations for LNG trade are often still performed by collecting data and inputting it into spreadsheets.  

 

Those involved in LNG trade often receive only a .pdf report or spreadsheet data file from the LNG Cargo Inspector.  There are no publicly available tools for understanding the process, verifying calculations, storing and retrieving data, and analyzing trends.  Version 1 of LNG Custody Companion provides value by 1) verifying custody calculations, 2) providing a database of cargo custody data that is easily accessible with QR codes, 3) determining how different versions of M&T might affect LNG custody calculations, and 4) allowing cargo data search capability using the analytics function.

The Future of LNG Custody Companion

The first version of LNG Custody Companion (LNGCC) contains the calculation engine, basic M&T configuration tool, reporting tool, and basic analytics functionality that will be the heart of an expanded, Enterprise-licensed application that will integrate with the systems of a Global LNG Cargo Inspection company and with those of the licensee.  

 

Collaboration with a Global LNG Cargo Inspection company is currently underway to develop the Enterprise application, and the inspection company aided in development of the calculation engine being offered in Version 1 as a foundation to build upon.  Version 1 is a demonstration platform for the capability that will be integrated into workflows to:

  • Allow online scheduling of an LNG Cargo Inspector
  • Collect and store LNG Cargo Inspector input raw data
  • Allow real-time monitoring of LNG cargo loading or unloading as the inspector inputs data
  • Send automated email or text updates based on user-selected events
  • Calculate LNG volume transferred and energy content using contract-specific models
  • Generate reports for use in LNG cargo transactions
  • Automatically send email notifications with draft reports for review and approvals
  • Generate Greenhouse Gas (GHG) certificates (optional tool for later development)
  • Interface with other user-utilized applications to automatically populate LNG cargo transfer information
  • Archive information for each LNG cargo for future retrieval
  • Include tools for data analysis and trending

Additionally, the calculation engine and M&T configuration tool will be expanded to include legacy calculation equations and data tables that are still specified in some older LNG contracts.  Cloudcroft Systems also has future plans to build a toolbox of commonly needed functions such as LNG unit conversions, time-series graphs of cargo data, LNG weathering calculations, and statistical data verification.