Digital solution for LNG asset integrity management for the Middle East market

140eb997-dcea-4713-a752-52a48db2efa9

Closed

Innovate UK
Innovate UK
Innovate UK
Innovate UK
Innovate UK

£98,600

Jan. 1, 2022

March 31, 2022

CorrosionRADAR strives to be a globally dominant player in Predictive Corrosion Management (PCM) enabled by its patented and award winning technology and IIOT (Industrial Internet of Things) enabled corrosion and moisture systems and predictive analytics.

Maintaining asset integrity is a core activity of the energy and petrochemical sector as it ensures reliability and safety, reduces potential risks, optimise productivity, maximise production and minimise downtime, and meets relevant safety and regulatory requirements. Corrosion has been an inherent problem to asset integrity since the industrial revolution. The global annual cost of corrosion is more than £2 trillion which equates to 3.4% of the world's total GDP. Hidden corrosion such as Corrosion Under Insulation (CUI) is a big challenge to the industry as it is hidden and can occur in unexpected locations, leading to potentially catastrophic leakages.

Natural gas is a bridge for a carbon neutral (Net Zero) future. It is predicted that by mid-century, natural gas will still be 29% of the primary energy mix. Liquified Natural Gas (LNG) sector has got up to 80% of insulated pipework some with cryogenic temperatures (~-162 degree Celsius). Facilities in Arabian Peninsula have additional challenges over those in more temperate regions because of high atmospheric and daily temperature excursions.

This feasibility study will help CR to explore its market in the Arabian Peninsula, a region with the biggest oil and gas reserve in the world. CR will demonstrate its innovative solution for PCM. Information collected through this feasibility project will inform development of detailed strategies and business plan for the region.