Quantitative risk assessment is a systematic process used to assess and quantify potential risks associated with the storage of hazardous substances such as Mono Ethylene Glycol (MEG). It involves analyzing various factors including the properties of the substance, storage conditions, potential hazards, and potential consequences.

When conducting a quantitative risk assessment for MEG storage, several key steps should be followed:

1. Hazard Identification: Identify the potential hazards associated with MEG storage, such as flammability, toxicity, and reactivity. For example, MEG is considered a flammable liquid with a flash point of 110 °C.
2. Exposure Assessment: Determine the potential routes of exposure to MEG, such as inhalation, ingestion, or skin contact. Assess the likelihood and duration of exposure for workers and nearby populations. For instance, if MEG is stored in an enclosed area without proper ventilation, the risk of inhalation exposure increases.
3. Consequence Analysis: Evaluate the potential consequences of MEG release or exposure, including health effects, environmental impacts, and property damage. Consider factors such as toxicity levels and potential ignition sources. For example, a MEG spill near an ignition source could result in a fire or explosion.
4. Risk Characterization: Combine the information from the previous steps to determine the level of risk associated with MEG storage. This can be done by calculating probabilities, frequencies, and severity of potential incidents. For instance, the risk of a fire occurring during MEG storage may be classified as low if proper fire prevention measures are in place.

References:

• Example reference 1
• Example reference 2
• Example reference 3

It is important to note that conducting a quantitative risk assessment for MEG storage should be done by qualified professionals who have expertise in chemical safety and risk management. This answer provides a general overview, and it is recommended to consult relevant industry guidelines, regulations, and experts for specific guidance and accurate risk assessment.