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Advisor(s)
Abstract(s)
O objectivo deste trabalho é avaliar a viabilidade da produção de biometano e
sua injecção na rede do gás natural.
Para o efeito, recorremos aos métodos tradicionais de avaliação de projectos.
Como o projecto é caracterizado pela sua flexibilidade e modularidade,
escolhemos recorrer também ao método de opções reais.
Em termos comparativos, o valor obtido pelo projecto quando avaliado sob esta
última óptica de avaliação é superior ao obtido através dos métodos
tradicionais.
Este nosso resultado evidencia uma maior capacidade de captar as
características do projecto e enquadra-se nas linhas gerais da literatura opções
reais.
The purpose of this study is to evaluate the feasibility of producing biomethane and its injection in the natural gas network. To achieve our goal we resorted to traditional methods of capital budgeting. As the project is also characterized by its flexibility and modularity, we chose to use also the real options approach. In comparison, the value obtained for the project when evaluated with the real options approach is superior to that obtained using traditional capital budgeting techniques. This result demonstrates the real options’ ability to better capture the characteristics of the project and it is in accordance with the general literature of real options.
The purpose of this study is to evaluate the feasibility of producing biomethane and its injection in the natural gas network. To achieve our goal we resorted to traditional methods of capital budgeting. As the project is also characterized by its flexibility and modularity, we chose to use also the real options approach. In comparison, the value obtained for the project when evaluated with the real options approach is superior to that obtained using traditional capital budgeting techniques. This result demonstrates the real options’ ability to better capture the characteristics of the project and it is in accordance with the general literature of real options.
Description
Keywords
Métodos tradicionais de avaliação Opções reais Biometano Traditional methods of capital budgeting Real options Biomethane