Historically, levels of safety and risk have been implied in prescriptive regulations. With the advances in computer technology and modeling technologies, risk analysis has evolved and become more accessible to the professional community. Recently, hazard and risk analysis in the environmental, chemical and seismic fields has provided some of the tools needed for the development of risk based analysis in the LNG industry. This presentation will explore the progress, current status and outlook for risk as an explicit basis for LNG standards and regulations.
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