1. A system, comprising: a computer system comprising at least one processor; a thermodynamic process simulation application executes for the duration of a time period, the time period comprising a plurality of time steps; wherein the thermodynamic process simulation application executes on the at least one processor, iteratively invoking a pressure flow solver application to determine for each time step a plurality of pressures and flows for a thermodynamic network comprising a plurality of nodes, wherein the thermodynamic process simulation application executes on the at least one processor, invoking a flash solver application for each of the plurality of nodes, the flash solver application performing a flash equilibrium calculation to obtain in part at least one sensitivity associated with a first thermodynamic variable and performing for each of the plurality of nodes a Taylor series expansion of a thermodynamic property associated with the first thermodynamic variable, wherein the expansion is based on the at least one sensitivity, to produce at least one residual, wherein a result is determined, wherein the Taylor series comprises an expansion of ⅆ V ⅆ t , where ⅆ V ⅆ t indicates the rate of change over time t of the volume V of a fluid associated with a node, wherein ⅆ V ⅆ t comprises ( ∂ V ∂ p ) ⁢ ⅆ P ⅆ t + ( ∂ V ∂ U ) ⁢ ⅆ U ⅆ t + ∑ i ⁢ ( ∂ V ∂ n i ) ⁢ ⅆ n i ⅆ t , wherein ∂ V ∂ P is the sensitivity of the volume V with respect to a pressure P, wherein ∂ V ∂ U is the sensitivity of the volume V with respect to an internal energy U, wherein ∑ i indicates a summation over the plurality of chemical species associated with the node, wherein the index i ranges from 1 to M, wherein ∂ V ∂ n i is the sensitivity of the volume V with respect to n i , wherein n i is the number of moles of the i-th chemical species, wherein ∂ V ∂ P , ∂ V ∂ U ⁢ ⁢ and ⁢ ⁢ ∂ V ∂ n i are evaluated at the flash equilibrium solution point, wherein ⅆ P ⅆ t = Δ ⁢ ⁢ P Δ ⁢ ⁢ t , where ΔP is the difference between the pressure at the current time step and the pressure at the previous time step and where Δt indicates the duration of a time step, wherein ⅆ U ⅆ t = 1 n ⁡ [ F f ⁢ H f - F v ⁢ H v - F l ⁢ H l + Q imp + Q r - U ⁡ ( F f - F v - F l + ∑ r i ) ] , wherein the superscripts “f”, “l” and “v” indicate properties associated with a feed, a mixed or liquid phase or a vapor phase, respectively, wherein the subscripts “imp” and “r” indicates a value imposed externally or via a reaction, respectively, wherein n indicates the number of moles associated with the node, wherein F indicates a molar flow, wherein H indicates an enthalpy, wherein Q indicates a heat flow, wherein ∑ i indicates a summation over the plurality of chemical species associated with the node, wherein the index i ranges from 1 to M, wherein r i is the change in the number of moles of the i-th chemical species due to a reaction, wherein ⅆ n i ⅆ t is ⅆ n i ⅆ t ⁢ ⁢ is ⁢ ⁢ ⅆ n i ⅆ t = F f ⁢ x i f - F v ⁢ y i - F l ⁢ x i + r i , wherein x f i is the molar fraction of the i-th chemical species in the feed, wherein x i is the molar fraction of the i-th chemical species in mixed or liquid phase and wherein y i is the molar fraction of the i-th chemical species in vapor phase.