Cost-Benefit Analysis for the Safety Measures about High Pressure Natural Gas Pipelines Proposed by Quantitative Risk Analysis

Recently Urban Gas Business Companies have been allowed to construct High Pressure Natural Gas pipelines, if they adopt the Risk Reduction Measures(RRMs) recommended by Korea Gas Safety Corporation(KGS) after safety assessment. This paper presents a Cost Benefit Analysis(CBA) method, when KGS performs safety assessment and recommends RRMs to Safety Appraisal Committee, to help the Committee make judgements on whether the proposed RRMs are reasonably practicable. We carried out quantitative risk assessment to high pressure natural gas pipelines as a case study and analysed cost benefit for the suggested RRMs. In conclusion, we found out the presented CBA method using PF was proper in Korea.