OTCnLNG: A single origin of truth to provide LNG buyers and sellers with a decentralized interoperable view of carbon-neutral LNG cargoes

Motivation for the project:

Reusability and trustworthiness of the gathered data will be increased thanks to the key role of domain-specific ontologies for streamlining heterogeneous data integration and assuring data quality in robust data processing and pipeline. ONTOCHAIN provides essential components to build trustworthy applications, and can be used as a digital hub.

Generic use case description:

LNG buyers and sellers will profit benefit from marketing the digital asset using their exchanges and scale by offering carbon credits at a lower price than their customers would acquire. They will also be able to monitor and track their journey to carbon neutrality. 

Essential functionalities:

- Digital Asset for LNG life cycle management
- Digital assets and emission/compensation on-chain; GHG offsetting (lock/unlock)
- Users’ identification and transactions validation
- Data repository and management
- Data collection & modelling with a focus on LNG
- Energy-specific ontology & semantics for selective disclosure
- Data quality assessment

How these functionalities can be integrated within the software ecosystem:

Authoritative repository: granularity, massive amount of data from LNG supply-chain to improve upstream GHG emissions & further deployment of monitoring technologies.
Transparent, open smart contracts-based architecture for integration & interoperability with other software layers.
Reuse ontology & semantics for other energy supply-chain.

Gap being addressed:

Blockchain-based verification of Semantic Web data for selective disclosure
Harmonizing data collection, aggregation, validation, and reporting to build trustworthiness, transparency and efficiency in LNG suppliers claims about GHG emissions and compensations supporting climate goals for all supply chain LNG stakeholders.

Expected benefits achieved with the novel technology building blocks:

Clear delineation, collaborative approach (vs. silos), authoritative single source of information, data transparency, identified legitimate users, added-value generation; premium (attached/detached) in case of re-export, co-purchasing, borrowing and lending; and auditable emissions intensity.

Potential demonstration scenario:

Create a digital representation of LNG assets with relevant data. LNG importers validate exporters' claims (provenance of information); quantify, track, & report GHG emissions & offsets (carbon credits) for flexible management: divide, transfer, stack and transact with a Premium
Attribute benefits of auditable emission intensities to clients.