Feasibility Study – Definition and Pronunciation
What is Feasibility Study?
A Feasibility Study is an analysis of how successfully a project can be completed, accounting for factors that affect it such as economic, technological, legal and scheduling factors. A feasibility study tests the viability of a given LNG Bunkering or small scale LNG storage project. The goal of a feasibility study is to place emphasis on potential problems that could occur if this project is pursued and determine if, after all significant factors are considered, the project should be pursued. Feasibility studies also allow a business to address where and how it will operate, potential obstacles, competition and the funding needed to get the business up and running.
Examples of Feasibility Study
A Feasibility Study incorporates a large number of aspects that are relevant for the development of LNG Fuel infrastructure. The elements which are relevant to Ports should be, on top of those directly related to the bunkering interface, also distribution links within Port Area, LNG small scale storage and others.
From “LNG Bunkering Guide – What It Is and How to Use It”.
In addition to the early phase project-specific studies noted above, EnerSea has joined with Kerr-McGee Corporation to lead a feasibility study of an innovative ultra-deepwater field development concept.
From “Compressed Natural Gas Carriers Applied to Remote Marginal Gas Field Developments”.
For more complex, large projects that involve developments of infrastructure, acquisition of new technologies, and particularly installation in foreign countries, itis common practice to use consultants to develop a feasibility study and pre-FEED study to further validate the technology selection and plant configuration prior to the FEED phase.
From “Project Management of the Large-Scale Liquefied Natural Gas Facilities”.
Pronunciation of Feasibility Study
