Assessing the Full Costs and Benefits of Pipeline Options

Decision-making on modern pipeline projects is subject to a broader and more complex range of influences and risk drivers than ever before. Issues such as new and tightening regulations, public health and safety, construction constraints, water constraints, arctic geotechnical issues, carbon management, Aboriginal interests and increased stakeholder participation all impact the lifecycle costs and benefits of pipeline project options. These are in addition to the more traditional issues that need to be addressed, which include point of origin, terminus location, routing, volumetric sizing and expansion scenarios. Superior decisions may be achieved on pipeline projects by the application of a structured triple-bottom line risk assessment at the front end of project planning. By adopting a broader view of the impacts of project operations, optimized solutions can be identified and proven, ultimately leading to a more profitable and lower risk commercial operation.