Liquid Energy Commodity Balance Analysis via Sensor Networks

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Solution Overview

Problem

Current methods for collecting and analyzing operational information from liquid energy commodity networks, such as crude oil and natural gas liquids, are delayed and limited in value for short-term trading due to restricted access to operational data, which is not publicly disclosed by component owners or operators.

Innovation Solution

A method and system that deploys sensors to measure storage levels, flow rates, and operational status across storage facilities, pipelines, and processing facilities, using image analysis, power monitoring, and thermal imaging to determine commodity balances and communicate this information to third-party market participants.

Engineering Contradictions & Design Principles

VSEngineering Contradiction Analysis

1Measurement precision

If data is collected via surveys of selected owners and operators, then data collection is performed, but the time required to collect and compile data ranges from days to months, causing delay

Engineering Contradiction:

Improvedata accuracyVSAvoiddata delay

Core Design Contradiction:

Measurement precisionVSLoss of time

Solution Approach 1:

The patent replaces manual survey-based data collection with automated sensor systems that continuously measure operational parameters. Sensors deployed at storage facilities, pipelines, and processing facilities automatically transmit data to a central repository, eliminating the mechanical process of manual data gathering and compilation while providing real-time information.

Inventive Principle:

Principle #28Mechanics substitution (Replace mechanical system)

Solution Approach 2:

The system enables components of the network to self-report their operational status through deployed sensors and measurement devices. Each facility automatically collects and transmits its own operational data without requiring external surveyors, thereby accelerating data availability while maintaining accuracy through continuous automated monitoring.

Inventive Principle:

Principle #25Self-service

2Reliability

If operational information is not disclosed publicly by component owners or operators, then data security and privacy are maintained, but access to information is limited for market participants

Engineering Contradiction:

Improvedata securityVSAvoidinformation accessibility

Core Design Contradiction:

ReliabilityVSLoss of information

Solution Approach 1:

The patent introduces a central data repository and processing system as an intermediary between component owners/operators and market participants. This intermediary collects data from various sources, processes it to determine commodity balances, and provides aggregated information to market participants without requiring direct disclosure from individual owners, thereby maintaining privacy while enabling access.

Inventive Principle:

Principle #24Intermediary (Mediator)

Solution Approach 2:

The central data repository serves multiple functions: collecting data from numerous component owners, processing and analyzing the data to determine commodity balances, storing the information securely, and providing access to market participants. This multi-functional system resolves the contradiction by handling both data security and information accessibility within a single unified platform.

Inventive Principle:

Principle #6Universality (Multi-functionality)

Applied Scientific Principles

This section explains which scientific principles are used to turn an abstract innovation direction into a practical engineering solution.

Function Achieved in This Case

Enables real-time or near-real-time determination of liquid energy commodity balances, providing valuable information to market participants and improving the timeliness and accuracy of market dynamics analysis.

Implementation Method 1

sensors or measurement devices are deployed at various points in a network to collect data

Methodology Applied

Scientific EffectMeasurement devices sensing:

Implementation Method 2

determining a flow rate of the liquid energy commodity in one or more selected pipelines in the network

Methodology Applied

Scientific EffectFlow rate measurement:

Implementation Method 3

ascertaining an operational status of one or more processing facilities in the network

Methodology Applied

Scientific EffectOperational status detection:

Data Source

PatentUS10692022B2Method and system for collecting and analyzing operational information from a network of components associated with a liquid energy commodity

Publication Date: 2020.06.23 GENSCAPE

AI summary

A method for collecting and analyzing operational information from a network of components associated with a liquid energy commodity comprises the steps of: (a) measuring an amount of the liquid energy commodity in storage at one or more storage facilities in the network, and storing that measurement data; (b) determining a flow rate of the liquid energy commodity in one or more selected pipelines in the network, and storing that flow rate data; (c) ascertaining an operational status of one or more processing facilities in the network, and storing that operational status information; (d) analyzing the measurement data, the flow rate data, and the operational status information to determine a balance of the liquid energy commodity in the network or a selected portion thereof at a given time; and (e) communicating information about the balance of the liquid energy commodity to a third-party market participant.