Stakeholders and Risks in Liquified Natural Gas Bunkering Projects: The Hidden Link

Evangelos Bellos, Georgios Chatzistelios, Angeliki Deligianni and Vrassidas Leopoulos
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Evangelos Bellos: School of Mechanical Engineering, National Technical University of Athens, 15780 Zografos, Attica, Greece
Georgios Chatzistelios: School of Mechanical Engineering, National Technical University of Athens, 15780 Zografos, Attica, Greece
Angeliki Deligianni: School of Mechanical Engineering, National Technical University of Athens, 15780 Zografos, Attica, Greece
Vrassidas Leopoulos: School of Mechanical Engineering, National Technical University of Athens, 15780 Zografos, Attica, Greece

Sustainability, 2021, vol. 13, issue 15, 1-18

Abstract: The importance of stakeholders’ analysis for the effective management of risks in any business sector has been widely recognized and depicted in International Organization for Standardization (ISO) standards. This kind of analysis is even more necessary in businesses and organizations dealing with significant technological and market changes, such as the provision and usage of Liquefied Natural Gas (LNG) as a marine fuel. In the LNG bunkering industry, several methods have been proposed to support risk management. However, they all suffer from an important drawback: they guide risk management mainly to the identification, analysis, and control of potential accidental events within a health and safety or a technical reliability analysis framework, failing to structure the correlation of risks with the actual actors, i.e., the numerous stakeholders whose decisions may influence directly or indirectly the organization’s objectives. This paper presents a method to systematically analyze the role of stakeholders and their ability to pose threats and/or opportunities to an organization. The proposed approach employs the Social Network Analysis (SNA) methodology to model and analyze stakeholder interests, interactions, and relationships that are important to the organization’s objectives. The method is applied in a small-scale LNG bunkering project at a Greek port.

Keywords: stakeholders’ analysis; risk management; social network analysis (SNA); LNG bunkering (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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