Tank assessment in LNG business

The application performs a financial valuation of gas quantities that are located either in a booked terminal or on ships at the end of the month. This valuation is based on trade transactions in the form of purchases and sales. In addition, the following data needs to be taken into consideration: quantity corrections, incidental acquisition costs, consumption (including fuel gas) and other losses and revenues. Purchases are mapped as additions to and sales are mapped as removals from gas quantities. Each addition is entered with its specific purchase price. The total of additions in a month is used to calculate an average price. All sales are summarized as individual removals and their value is calculated from the average price for additions. The delta for the previous month is valued as per the HGB (German Commercial Code) and IFRS methods and differences are posted to floating assets. Postings from previous months can be corrected. The resulting differences in subsequent months are also valued and posted.