LNG as Fuel for Aircraft Essay Example | Topics and Well Written Essays - 1000 words

LNG as Fuel for Aircraft - Essay Example Conceptual Configuration 1.1 Liquefaction Cycle Liquefaction allows gas to be stored economically. Propane Precooled Multi-Component Refrigerant Cycle (Carson’s Report, pg 221) will be used to create the LNG from the natural gas feed. This process also known as the C3-MR system is used widely in today’s LNG industries. This system uses a multi-component refrigerant, usually nitrogen, methane, propane, butane, ethane and pentane to condense and evaporate natural gas in one cycle over a wide range of temperatures.( http://books.google.com.au/books?id=b14hnWUAOPYC&pg=PA115&lpg=PA115&dq=propane-precooled+multi-component+refrigerant+cycle&source=bl&ots=NyBe3x3X2H&sig=lGG5YDOJ9TkF_ntOmXjcG2Es2Fc&hl=en#v=onepage&q=propane-precooled%20multi-component%20refrigerant%20cycle&f=false) 1.2 Storage Facility In this section we will show our storage facility by calculating the storage capacity needed (table 1.2.1), studying the current LNG storage tanks and their capacity and choosing the appropriate facility for our project. Storage Capacity                Number of Flights per day    14                      Usage per Flight          LNG Density (kg/m^3)    455 Weight (kg)    26043.97 Volume(m^3)    57.23949                      Usage per Day          LNG Density (kg/m^3)    455 Weight (kg)    364615.6 Volume(m^3)    801.3529                   Needed storage capacity per day (m^3)                LNG 801.3529             Annual Storage Capacity (m^3)                LNG 292493.8    Table 1.2.1 Storage Capacity Calculation LNG is a cryogenic liquid. The term â€Å"cryogenic† means low temperature, generally below -73 °C. LNG is a clear liquid, with a density of about 45% that of water. The LNG is typically stored in double-walled tanks at atmospheric pressure. The storage tank is actually a tank within a tank. The annular space between the two tank wal ls is filled with insulation. The inner tank, in contact with the LNG, is made of 9% nickel steel, suitable for cryogenic service and structural loading of LNG. The outer tank is generally made of carbon steel or prestressed concrete. 1.3 Processing Facility This stage includes the requirements to sub-cool LNG prior to the loading into the aircraft fuel pods. Lng needs to be sub cooled to -161 degrees Celsius for it to remain in the liquid form. 1.4 Distribution Facility Our distribution facility will include pipings, pumps and hydrants required to deliver LNG from the storage tanks to the aircraft. Pipeline System As the liquefaction and storage facilities are within the airport boundary, the pipeline costs will be lesser than that of distribution and transportation through trucks. Sizing requirements to meet the distance from the storage tanks to the aircraft. To be able to simultaneously fill 2 aircrafts at one time. Under the ground (trench covered by open grating) to prevent he at penetration. Pipeline insulation by thick polyurethane to prevent heat infiltration. 2. Ground Systems Operating Procedure The primary operations that will be considered in this section: Receipt of gas for liquefaction Liquefaction Storage Delivery of LNG In our project, we will be receiving liquefied natural gas, which will eliminate the process of liquefaction. The reason for such an arrangement would be that the amount of LNG usage for our operation does not require a facility to produce LNG with a natural gas feed. Also, costs are not feasible to create a natural gas feed at the airports. With this, we move on to the

Rotation of Auditors Improving Quality of Audits Essay

Rotation of Auditors Improving Quality of Audits - Essay Example Being faced by many of the threats the financial statements are deemed to provide true and fair view and audit of the financial statements depicts that whether the information provided in the financial statements are up to the standards upon which the financial statements are to be presented and issued. The quality of the audit is crucial for the integrity and reliability of the information provided and disclosed in the financial statements. With the continuous increase upon the integrity of the financial statements there are efforts made and put in to practice in order to provide high quality audit. Many of the legislations and regulations are formed to excel the quality of the audit so that the quality audit can enhance the integrity of the financial statements. There are many factors, which contributed towards the quality of the audit and their relation with the quality of financial statements, one of which is the rotation of the auditors. The independence of the auditors is one o f the major factor which reflects the quality of audit. The impact of the rotation of auditors upon the quality of audit ensuring auditor independence and how the factors affecting the auditors’ independence are tackled with rotation of audit is discussed. Importance of Audit Quality The quality of the audit is crucial for every user as the financial statements fulfilling the information requirement, which is different in every case. The importance of the transparency of information is critical as the users are dependent upon the provided information and that information is needed to be completely free of bias and should present the true and fair view of the company (Zabihollah, et al., 2003). The quality of the audit of the financial statements is decisive for every user as it is the quality of audit that depicts the dependency and reliability of the information provided in the financial statement. Regulations and Principals The importance of the audit is of utmost important as it elaborates the transparency and quality of the information that the company provides in its financial and non-financial statements (Anna & James, 2009). The information that is scrutinized in the audit process depicts the quality of the audit. The quality of audit is measured upon various techniques where the relation of the auditor is one of the major factors that result in the rotation of the auditors. The ethical implication of the audit and the principals provided by the international auditing and assurance standard board are issued in order to guide through the quality of audit. There are various legislations imposed in various countries where the rotation of the auditors is set as compulsory for the company. The importance of the audit is realized and various regulations were made and implemented. The Public Company Accounting Oversight Board has implemented laws that are mandatory to be followed where the rotation of the auditors are set to be followed by the companies . Corporate governance failure caused many of the scandals that gave rise to many of the regulations (Francine, 2011). In the corporate governance the best practice principals denotes the quality of audit to be enhanced when the rotation of the auditor is made after every three years. The corporate governance best practice is dedicated towards the operations of the company, which depicts the