Framing LNG projects for success

Framing LNG projects for success

Developers of winning projects will need to have the foresight and will to break out of traditional corporate structures, making internal and external stakeholder management and alignment a core competency. It is difficult to recover from early missteps. Those projects that start well are most likely to achieve investment approval and stay on time and budget.

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Successful project proponents get nine things right:

  • They do not underestimate project complexity.
  • They have strong project governance.
  • They have an operating model and culture that goes beyond optimizing within “silos” to optimizing linkages.
  • They align engineering, procurement, construction (EPC) and supplier interests and vest them in the project’s success.
  • They connect local issues – stakeholders and regulators – when building the team structure and strategy.
  • They ensure stakeholder, regulatory and human resource considerations are as central as technical issues in decision-making.
  • They engage and bring on board governments, stakeholders, NGOs, environmental groups and indigenous communities from the start to develop mutually beneficial solutions, rather than allowing adversarial stances to emerge.
  • They continuously learn and adapt.
  • They build with future operations in mind.

Projects that start well are most likely to achieve investment approval and stay on time and budget.”

 

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