Lightning fire is one of the biggest dangers for chemical and petrochemical storage tank farms, particularly in floating roof oil tanks (FROTs). To improve the lightning protection of FROTs, the process of floating roof tanks affected by lightning is analyzed. Lightning inductive effects can result in the undesired operation of the above-ground storage tank equipment and endanger exploitation safety. The time domain finite element analysis based on the transmission line model (TLM) method is regarded as a numerical technique to solve field problems by implementing circuit equivalents. This study aims to analyze lightning strike characteristics using the Heidler current function and simulate electromagnetic field strength (EMFS) distribution and surface current density (SCD). Calculation of minimum possible effective strike distance and shielding effectiveness (SE) is performed. Parametric modeling ensures accurate modeling of the roof's bypass conductor to the shell. By utilizing the Parameter Sweep technique, multiple simulations can be carried out with varying structure parameter values. This approach ensures optimal efficiency and accuracy in the results obtained.