How Advanced Analytics improve Margins at Natural Gas Processing plants?
Improved fracking technology in oil and gas fields is creating an unprecedented boom in natural gas production, exerting tremendous pressure on natural gas prices globally. As recovery of Natural Gas Liquids (NGL) from the gas streams drives revenues for natural gas processing plants, any favourable market climate for encouraging production may adversely affect supply-demand equilibrium. Excess NGL may drive prices down in the short term. Any shifts in market values of NGL and natural gas may impact the fractionation spread, affecting the profitability of the gas processors. To stay ahead of the game, optimizing recovery of Natural Gas Liquids is imperative for gas processors to sustain and profit in this competitive market. As the optimal processing conditions of NGL extraction –either ethane recovery or rejection mode- is highly dependent on the current pricings of Natural Gas and NGL components, incorporating economic data into process models and optimization objective functio...