Baltic LNG Project Risk Management

The work focuses on the "Baltic LNG" project risk management. The project is implemented by LLC "Gazprom LNG Saint-Petersburg". Baltic LNG is a construction project of an LNG plant in the port of Ust-Luga in Leningrad region. The aim of this work is to develop methodological principles for risk management of the Baltic LNG project on the basis of risk identification and analysis of the impact of these risks on key project characteristics. Theoretical and methodological basis of this study is works of Russian and foreign authors, devoted to the risk management of oil and gas projects and risks of LNG projects in particular. In addition, the data of international and Russian consulting companies are used in the study. Such methods as expert assessment, statistical analysis and scenario analysis are used in the study. Calculations are made using MS Excel. The following results are obtained: 1. The list of risks of the project "Baltic LNG" is defined, the analysis of risks undertaken, consequences and response plans for risks are identified. 2. The most significant project risks are identified and the main factors of their occurrence are determined. 3. Several scenarios for the risk factors are highlighted. The impact of each scenario on the implementation of the project is valued. 4. A methodical approach to project key risks management is developed.