On the choice of mathematical methods for assessing the value of real options for capacity extension of oil and gas projects
https://doi.org/10.32686/1812-5220-2020-17-1-38-57
Abstract
The article presents the results of the study of cost evaluation of a real option for capacity extension of a two-phase liquefied natural gas production project and the economic effect of reserving capacity in the project. The expediency of using the simulation method to solve the problem of assessing the economic efficiency of the project with the real option at different stages of the project cycle is shown. Recommendations are given on using methods for constructing a binomial and a numerical integration models as additional (testing) methods for assessing the economic efficiency of a project with an option at the pre-investment stage.
About the Authors
V. Yu. Khat’kov
PJSC "Gazprom"
Russian Federation
Russian Federation
Vitaly Yu. Khat’kov
117997, Moscow, st. Nametkina, 16
G. V. Zubarev
OOO "Gazprom VNIIGAZ"
Russian Federation
Russian Federation
Gennady V. Zubarev
142717, Moscow region, Leninsky district, the rural settlement of Razvilkovskoye, the village of Razvilka, Projected passage No. 5537, building 15, building 1
I. V. Demkin
OOO "Gazprom VNIIGAZ"
Russian Federation
Russian Federation
Igor V. Demkin
142717, Moscow region, Leninsky district, the rural settlement of Razvilkovskoye, the village of Razvilka, Projected passage No. 5537, building 15, building 1
E. V. Pozhidaev
OOO "Gazprom VNIIGAZ"
Russian Federation
Russian Federation
Evgeny V. Pozhidaev
142717, Moscow region, Leninsky district, the rural settlement of Razvilkovskoye, the village of Razvilka, Projected passage No. 5537, building 15, building 1
I. M. Nikonov
"NIIgazeconomika"
Russian Federation
Russian Federation
Igor M. Nikonov
105066, Moscow, st. Old Basmannaya, d. 20, p. 8
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Review
For citations:
Khat’kov V.Yu., Zubarev G.V., Demkin I.V., Pozhidaev E.V., Nikonov I.M. On the choice of mathematical methods for assessing the value of real options for capacity extension of oil and gas projects. Issues of Risk Analysis. 2020;17(1):38-57. (In Russ.) https://doi.org/10.32686/1812-5220-2020-17-1-38-57
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