Benchmarking in the LNG Sector

This chapter discusses how organisations benchmark their mega complex projects in the LNG sector. This is done by examining the benchmarking history, and the themes, which are internal, external, functional, standard, and providing a breakdown of their significances. It delivers an insight into how corporate governance and project governance are aligned. It also includes the importance of the governance process, which needs to be repeated throughout all phases of the project life-cycle to ensure that the project governance process complies with the organisation’s overall strategic values. This also demonstrates the types of benchmarking that are used in developing mega complex LNG projects. It also introduces the Phase-Based Benchmarking (PBB) and how this works when developing mega complex LNG projects throughout their life-cycle. A brief discussion on upstream benchmarking for structures, such as jackets and topsides, is also mentioned.