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

Author

Listed:
  • 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)

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.

Suggested Citation

  • Evangelos Bellos & Georgios Chatzistelios & Angeliki Deligianni & Vrassidas Leopoulos, 2021. "Stakeholders and Risks in Liquified Natural Gas Bunkering Projects: The Hidden Link," Sustainability, MDPI, vol. 13(15), pages 1-18, July.
    • Handle: RePEc:gam:jsusta:v:13:y:2021:i:15:p:8140-:d:598411
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    References listed on IDEAS

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    2. Martin N. Ndlela, 2019. "Crisis Communication," Springer Books, Springer, number 978-3-319-97256-5, September.
    3. K. Srinivas, 2019. "Process of Risk Management," Chapters, in: Ali G. Hessami (ed.), Perspectives on Risk, Assessment and Management Paradigms, IntechOpen.
    4. Menoka Bal & David Bryde & Damian Fearon & Edward Ochieng, 2013. "Stakeholder Engagement: Achieving Sustainability in the Construction Sector," Sustainability, MDPI, vol. 5(2), pages 1-16, February.
    5. Nuccio Ludovico & Federica Dessi & Marino Bonaiuto, 2020. "Stakeholders Mapping for Sustainable Biofuels: An Innovative Procedure Based on Computational Text Analysis and Social Network Analysis," Sustainability, MDPI, vol. 12(24), pages 1-22, December.
    6. John M Bryson, 2004. "What to do when Stakeholders matter," Public Management Review, Taylor & Francis Journals, vol. 6(1), pages 21-53, March.
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    Cited by:

    1. Agnieszka A. Tubis & Emilia T. Skupień & Stefan Jankowski & Jacek Ryczyński, 2022. "Risk Assessment of Human Factors of Logistic Handling of Deliveries at an LNG Terminal," Energies, MDPI, vol. 15(8), pages 1-24, April.

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