SCD JV selected for EPC contract of Nigeria LNG Train 7 project

first_imgThe JV will be responsible for EPC of one complete train and one liquification unit with a total capacity of approximately 8mtpa Image: SCD JV consortium selected to build the seventh train at the Nigeria LNG plant in the African country. Photo: courtesy of Carlo San/ Nigeria LNG has signed a letter of intent with SCD JV consortium for the engineering, procurement, and construction (EPC) contract to build a seventh train at the Bonny LNG plant located in Nigeria, as part of $12bn (£9.7bn) project expansion plan.The joint venture, which comprises Saipem, Daewoo E&C and Chiyoda, has been selected as its preferred bidder for the EPC contract.Saipem said in a statement: “The intended award of the EPC contract is conditional upon the approval of Nigeria LNG Limited’s board of directors and shareholders, the approval of any governmental or regulatory authorities, the achievement of any conditions precedent to a final investment decision by Nigeria LNG Limited and the execution of a legally binding EPC contract by the parties.”With the signing of the letter of intent, Nigeria LNG and the SCD JV committed to finalising the EPC Contract based upon the SCD JV’s proposals submitted on an exclusive basis.The SCD JV’s scope of work of the proposals includes implementation of the engineering, procurement and construction of one complete train and one liquification unit with a total capacity of approximately 8 million tonnes per annum (mtpa), plus other associated utilities and infrastructure.Nigeria LNG expansion project detailsThe addition of seventh train will increase the Nigeria LNG facility’s total production capacity from 22mtpa to 30mtpa.The project is owned and operated by Nigeria LNG, a joint venture between Nigerian National Petroleum Corporation (NNPC) with 49% stake, Shell Gas with 25.6% interest, Total with 15% stake and Eni with 10.4% interest.The train seven at the Bonny Island LNG facility is scheduled for commissioning in 2024. It will include a new liquefaction unit, an 84,200m³ storage tank, a 36,000m³ condensate tank and three gas turbine generators.The LNG produced at the Bonny Island facility is sold to 11 customers including Enel, Gas Natural, Botas, GDF Suez, GALP Gas Natural, BG LNG, Endesa, ENI, Iberdrola, Shell Western LNG, and Total Gas and Power, under separate long-term LNG sales purchase agreements.In March 2019, Nigeria LNG has signed the Nigerian Content Plan (NCP) with the Nigerian Content Development and Monitoring Board (NCDMB) for the Nigeria LNG Train 7 project.last_img read more

Goldcoast Sotheby’s International Realty Welcomes Peter Madden to Company

first_imgGoldcoast Sotheby’s International Realty announced Tuesday that Peter Madden, the broker manager from Berkshire Hathaway’s Ninth Street and Simpson Avenue office in Ocean City, is resigning his position to take a new opportunity at Goldcoast Sotheby’s International Realty.Madden will be a broker/owner based out of the Goldcoast Sotheby’s International Realty 34th Street office, where he will have a hand in rentals, sales and managing the office.“We are excited for Pete to join our ownership and leadership team here at Goldcoast Sotheby’s International Realty and look forward to a successful future together,” Burton and Emily Wilkins, broker/owners, said in a press release.Madden, who has been the manager at Berkshire Hathaway since 2009, first at the Battersea Road office and most recently at the new office located at Ninth and Simpson, has spent the past 15 years of his real estate career at Berkshire Hathaway. During his time as manager, sales increased from $40 million to $285 million.Madden prides himself on his community involvement, serving on City Council since 2014 and serving as its president since 2016.He is currently a member of the Ocean City Board of Realtors’ executive committee and also sits on its board of directors as well as on the board of directors for the Ocean City Regional Chamber of Commerce.Madden also serves on the Ocean City Tourism Commission and the planned giving development board at Shore Medical Center.He was previously a member of the Ocean City Board of Education from 2009-2013 and coached boys’ crew at Ocean City High School.He and his wife Ashley have four children, Riley, 16, Avery, 14, Brynn, 11, and Carter, 8. The Maddens reside in Ocean City.Contact Pete Madden at [email protected] or (609) 513-4781. Peter Madden broker/owner of Goldcoast Sotheby’s International Realty in Ocean City, says the real estate market in the resort is exploding.last_img read more

Matisyahu Shares New Music Video With Twiddle’s Mihali Savoulidis [Watch]

first_imgA few days ago, Matisyahu released a new song, “Storm Tossed,” written and recorded with Mihali Savoulidis from Twiddle. The two have been performing the song together throughout the summer, and have just posted a music video to go along with its official release (which you can download here).We’ve seen Matisyahu join Twiddle at the Capitol Theatre, and we’ve seen Mihali join Matisyahu in Burlington, but this collaboration is strictly original. The video sees the two musicians traveling from tour buses to summer stages, performing the pop-driven, reggae-inspired tune. Enjoy “Storm Tossed” in the video below:last_img read more

Pandemic worsens outlook for U.S. coal

first_imgPandemic worsens outlook for U.S. coal FacebookTwitterLinkedInEmailPrint分享E&E News:Add U.S. coal to the list of industries threatened by the novel coronavirus.Part of its problem is conditions that precede the pandemic. U.S. coal plants are an aging bunch. Weak electricity demand has only intensified competition with gas and renewables.The weather has been a drag on American miners, too; a warm winter helped push coal generation in the first quarter down by roughly a third, year over year, according to S&P Global Platts.But the onset of the coronavirus has the makings of a slow-rolling crisis for the coal industry, analysts say.A lockdown on economic activity in most of the United States is eroding electricity demand (Energywire, April 6). And coal generation is mirroring the decline.American coal generation declined 36% in March compared with the same month last year, according to an E&E News review of federal figures — even as generation from natural gas and wind increased over that time period. The U.S. Energy Information Administration (EIA) said yesterday it expects coal generation to decline 20% in 2020.The result has been a steady buildup in utility coal stockpiles. By early summer, analysts say, power companies could run out of space to store additional coal shipments.Coal generation in March was already below 2019 levels before many states took steps to shut down their economies. It has fallen further as lockdowns expanded nationwide, especially after states with coal-reliant electric systems instituted shutdowns. The dangers for coal are several. Large stockpiles weigh down prices and increase pressure on miners to cut back production. EIA is projecting coal production will fall 153 million tons, or 22%, to 537 million tons in 2020.[Benjamin Storrow]More: Can coal survive the coronavirus?last_img read more

Guatemalan and Mexican Armed Forces Cooperate to Rescue Landslide Victims

first_imgBy Dialogo November 05, 2015 The Guatemalan and Mexican Armies recently joined forces in a rescue mission after a massive October 1 landslide left hundreds dead, missing, and injured in the town of Santa Catarina Pinula. Guatemala at a risk for natural disasters Because of its geography, Guatemala is classified as being at high-risk for natural disasters. Dangerous natural events such as landslides, floods, hurricanes, earthquakes, volcanic eruptions, and other meteorological phenomena have taken the lives of thousands of people and have also caused catastrophic material loss. Guatemalan Armed Forces responds quickly In recent years, the El Cambray II quadrant has suffered the effects of swells from the river including unstable hillsides, the undermining of structures, and erosion near homes, according to Guatemala’s National Coordination for Disaster Reduction (CONRED), the entity tasked with preventing, mitigating, attending to, and participating in the rehabilitation of areas struck by natural disasters. “At this moment, a contingent of engineers from the Mexican Army are still helping with the work that needs to be done in Guatemala. They coordinate the work and procedures used by the Humanitarian and Rescue Unit (UHR) and CONRED regarding prevention and the reconstruction of the affected areas. Both Guatemala and Mexico rely on personnel trained in how to respond to natural disasters to be able to carry out its relief work.” The swelling of the Pinula River combined with the landslide left 70 people missing, injured 27, and destroyed more than 180 homes, leaving 407 people displaced, according to CONRED. The Guatemalan Army’s response “was immediate,” Brig. Gen. Rodríguez said. “Thanks to the constant communication with relief agencies, 500 personnel were initially deployed as part of the search and rescue operations. This number was reduced in the days that followed to 300.” center_img Working in three search and rescue groups, they proceed for two-hour periods in collaboration with CONRED’s Guatemalan Emergency Operations Center. The Mexican contingent also included 16 dogs specially trained to find missing persons and cadavers that could be entombed among the tons of earth displaced by the mudslide. In October 2005, 670 people died, 850 disappeared, and 3.5 million were injured when Hurricane Stan passed through Guatemala, according to Publinews. The hurricane also caused $983 million in damages, according to the Guatemalan Secretariat of Planning and Programming. Most members of the Mexican contingent returned home after their six-day mission on October 9, though some specialized technical personnel from the National Disaster Prevention Center, which is operated by the Mexican Army, are continuing their work in Guatemala. “There was a seamless and effective integration of the Mexican delegation with the search and rescue missions that reached out to those affected,” Infantry Brigadier General Hugo Fernando Rodríguez Cifuentes, spokesman for the Guatemalan Army, told Diálogo. “The Mexican government has offered humanitarian assistance to the government of Guatemala and, with this show of good faith, demonstrates the wonderful relationship between our two countries that share borders, cultures, and bonds of friendship.” Guatemalan authorities deployed 16 excavators, seven backhoes, three front-end loaders, 50 dump trucks, and two tanker trucks. While Military reservists packaged and unloaded provisions such as food and water for the displaced, the Special Reserve Corps for Citizen Security provided security for them. The Corps concentrated on deterring crime. After heavy rains in the region caused the landslide, killing 280 and leaving scores missing and injured, 64 members from the Mexican Armed Forces and other officials coordinated their rescue efforts with the Guatemalan Army. The Mexican team consisted of 12 natural disaster specialists from the Mexican Secretariat of National Defense; 11 from the Mexican Secretariat of the Navy; 32 from the Mexican Federal Police; one from the Mexican Secretariat of Foreign Affairs; and eight from the National Civil Protection Liaison. They participated in search and rescue missions; ground assessments of affected areas; and the removal of debris from the displacement of more than 17,680 cubic meters of earth that were dislodged in the quadrant of El Cambray II. In May 2010, a few days after the eruption of the Pacaya Volcano, Tropical Storm Agatha caused landslides and flooding that killed 170 people and caused 110 to go missing, according to the Institute for Conflict and Humanitarian Action Studies (IECAH). The two disasters inflicted more than $982 million in damage and economic losses, according to the United Nations Economic Commission for Latin America and the Caribbean. And in November 1998, 268 people lost their lives to Hurricane Mitch, which caused Guatemala to lose $747 million, according to the Center for Economic and Environmental Studies.last_img read more

Democrat Madeline Singas Declares Victory in Nassau District Attorney Race

first_imgThe campaign for DA was often contentious, pitting a Democrat who has spent the last 24 years of her adult life as a prosecutor against a Republican who has never prosecuted a criminal case, but touted her leadership abilities in the most populous town in the nation. The pair spent the final weeks of their campaigns questioning their opponent’s experience and dubiously forecasting what crime would be like if their contender triumphed. They argued over how best to combat the heroin epidemic and who’d be tougher on crime.Republican Kate Murray during her concession speech Tuesday at the GOP election party in Westbury.For Democrats, the DA race held extra significance because Republicans currently have a stranglehold on Nassau County politics, as they control the county executive office, legislature, and the comptroller’s office. Winning the DA contest was seen as critical for Democrats, who boast more registered voters in the county but have struggled to get their supporters to vote during off-year elections.The race played out as observers imagined it would. Murray, according to various polls, led throughout the race but the margin narrowed dramatically in the weeks prior to the election. While Murray received endorsements from major police unions and popular Republicans like senator-turned-lobbyist Alfonse D’Amato and former New York City Mayor Rudy Giuliani, Singas welcomed endorsements from The New York Times, Newsday and The New York Daily News, which slammed Murray in several scathing editorials over the past month.Singas’ campaign characterized Murray as a prosecutorial neophyte who lacked the requisite experience necessary for such an important post. Murray’s law experience includes two separate positions as a junior lawyer at two firms and as an assistant in the state attorney general’s office prior to her election to the state Assembly in the late ‘90s, her tenure as Hempstead Town clerk and subsequently town supervisor.Murray’s camp countered assertions that she’s inexperienced for the post by touting her record as Hempstead Town Supervisor for a dozen years. On the stump, Murray promised to tackle the heroin epidemic, which has led to an increase in overdoses, and portrayed herself as a candidate who is tough on drugs. Murray also highlighted her leadership abilities and her political prowess, the latter of which she’d use to encourage state lawmakers to pass laws that would keep the community safe.The campaign was not without controversy.Singas called for a special prosecutor last week when NuHealth, the corporation that oversees taxpayer-funded Nassau University Medical Center in East Meadow, published on its website a news release endorsing Murray for district attorney that reportedly used language taken directly from her campaign literature. Singas called on Murray to answer for her “campaign’s illegal coordination” with NuHealth, whose board member is a prominent Murray supporter, and also demanded an investigation into the legality of endorsement, which was later deleted from NuHealth’s website.The campaign also comes amid Singas’ ongoing investigation into how Nassau approves government contracts, which was sparked by the federal probe into the alleged abuses by state Sen. Dean Skelos (R-Rockville Centre), the former state Senate majority leader who rose to power through the Nassau GOP machine. Preet Bharara, the U.S. Attorney for the Southern District of New York, also subpoenaed Nassau County Executive Ed Mangano as part of the Skelos probe. Singas had promised, if elected, that she would expand her investigation into Nassau’s three towns, something she was hesitant to do during the campaign.In her victory speech, Singas pledged to combat heroin and root out corruption.“No one is above the law,” she said.,Alure cube,Alure cube Sign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York Democrat Madeline Singas, considered the underdog in a race with far-reaching implications, declared victory over Kate Murray, her well-connected Republican challenger, in the hotly contested race for Nassau County District Attorney.In what appeared to be a striking rebuke of the Republican Party machine that dominates Nassau County politics, the career prosecutor was on her way to a resounding victory over GOP stalwart Murray, who has spent more than a decade as Hempstead Town Supervisor.Singas has served as acting Nassau DA since January, assuming the role following Kathleen Rice’s election to Congress last year when Rep. Carolyn McCarthy declined to run.With a majority of districts reporting late in the evening, Singas was up by more than a dozen points over Murray, according to unofficial election results. She took the stage at swanky Garden City Hotel shortly after 11 p.m.“What a great victory,” said a smiling Singas, joined on stage by her family. “I said it many times before that this election would come down to a choice…would they choose someone with the expertise and the experience, a prosecutor who could root out corruption, a prosecutor who could end the heroin scourge in our community, a prosecutor who can end violence on our streets? And today the voters responded with an overwhelming ‘yes.’”Singas congratulated Murray on a “hard fought battle,” calling her a “public servant.” She also thanked her predecessor and her many volunteers.“I’m also very proud of what this victory represents because this victory transcends politics,” she told the doting crowd. “This victory transcends Republican or Democrat, this victory means the voters put aside their partisan issues, the voters overwhelmingly said we’re going to put our community first.”Murray did not concede the race until after midnight.last_img read more

Adaptation is in our DNA

first_img 89SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Scott Butterfield Adaptation: “the result of an evolutionary process in which individuals within populations evolve traits over time that are better suited to their environment.”Successful adaptation happens when specific traits emerge that increase a species’ chances of survival. Adaptation also applies to credit unions and the credit union movement as a whole.First, a biological example from the animal kingdomDuring the winter of 2013-2014, the southeastern United States – specifically along the Texas-Mexico border – endured an extreme cold snap. This severe weather event had a radical effect on the Green Anole Lizard. During the cold snap, which would typically kill off most Anoles, scientists observed over the span of just a few months how the population underwent a dramatic genetic transformation in response to the unusual temperatures, paving the way for future generations of Green Anoles to survive cold weather. [1]It’s extreme events like this one that produce the strong selection response to adapt – or die. These populations of Anoles adapted and will live another day.Credit unions can (and do) adapt and thriveJust like the animal kingdom, credit unions adapt to survive. The credit union movement today is a prime example. Most of our credit unions have been chartered for at least 50 years (many more than 80). That’s a considerable period of time for any business. To get to this point, each credit union had to adapt over time. But adaptation is not a “one and done” process – it’s an ongoing process to adapt in response to our changing habitat. And our habitat is changing more rapidly today than ever before. I suspect five years from now, the number of credit unions will drop by one-third. Truly, the future is reserved for credit unions that adapt and change. This applies to credit unions of any size.Members Credit Union (Cos Cob, Connecticut) is a current best-practice credit union that had to dramatically change its priority target market in order to adapt to significant environmental changes. MCU is a $29-million credit union located in one of the most economically polarized areas of the country: Greenwich, Connecticut. The credit union was chartered in 1935 to serve the educational community and served this group well for many years. However, during the past decade, the credit union has struggled to grow due to increased competition and an aging membership (sound familiar?).Four years ago marked a reflection point for the credit union’s leadership. They realized that if they wanted to remain relevant, they would need to make some changes (i.e., adapt). This adaptation included finding a new target market group within their field of membership, with high consumer-loan demand to serve. Leadership identified a lower-income, Latino target market in their field of membership that was underserved and largely unserved. This lower-income, minority group was the polar opposite of the predominately white, middle class (and aging) membership they had experience serving for 80-plus years. It was a sober realization that a lot needed to change to serve this new demographic. But leadership was energized by the prospect of serving a population who really needed a credit union – their credit union. If successful, they would have a market with less competition, greater potential for growth, better earnings, and, most importantly, greater service and community impact. Long story short, during the past three years, MCU has adapted its lending practices to better support risk-based lending. They have become knowledgeable in immigration matters to better serve non-citizens with accounts and loans. They committed to having ALL staff becoming CUNA FiCEP Certified Financial Counselors so that each employee had the tools they needed to teach and coach a new, underserved market. Their efforts expanded staff and board diversity and increased community partnerships to reach this new market. And to more fully demonstrate their commitment to serving their growing Spanish-speaking community, the entire non-Spanish speaking staff volunteered to take Spanish language classes to improve their ability to communicate with the people they value and serve.Like most $29-million credit unions, MCU lacks many resources afforded to larger credit unions, and it would have been easy to give up. Rather than faint at the prospect of more work, this credit union – from the board to member-facing staff – were motivated by a desire to help people, and not only survive but thrive in their ability to serve the next generation. There has been a significant cultural shift (it’s an amazing place to work), ROAA has doubled since 2017, used auto loans have increased 80 percent, and net membership growth is a positive 2.6 percent. The credit union pursued a methodical and prudent process to accomplish this significant strategic shift. It’s managing growth, limiting loan losses, and increasing average loan yield. It’s so popular now, new members are driving across the county to get to the credit union’s only branch office. During 2018, the credit union was nationally recognized by Inclusiv with the Juntos Avanzamos (Together We Advance) designation, acknowledging its commitment to serving its local Latino community. During 2019, its success was further validated by the U.S. Treasury CDFI with a $120,000 grant that will be used to hire an additional loan officer to keep up with consumer loan demand.Loan growth is generating extra income. The extra income is being reinvested into marketing, technology, and human resource development to ensure the credit union can continue to adapt as quickly as possible. Truly, Members Credit Union is an inspiration and best practice, showing that even the smallest of credit unions can adapt and remain relevant.Why it mattersThe environment we operate in is changing rapidly. I’ve seen a lot of changes during my 35-year credit union career. The changes we’re experiencing today are probably the greatest the credit union movement has ever faced. The good news is that consumers, especially the lower-income and working-class (a growing market segment), still need credit unions. I would argue that with the continued income polarization and a shrinking middle class, credit unions have never been needed more.It’s the beginning of a new decade. Now is the time for an honest assessment. If your credit union is not consistently growing or generating the level of revenue needed to invest in tomorrow, what are you willing to do or change to be successful? If your leadership and culture are willing to adapt and change, there are many opportunities out there – but, like anything worth having, it won’t be easy.Credit union pioneer, Edward Filene summed up the need for adaptation best: “Progress is the constant replacing of the best there is with something still better.” All credit unions, regardless of size or business model, need to be in constant search for something “still better” to compete and ensure our credit unions and the movement we serve are still here to welcome in the next decade.[1] Scott is the Principal of Your Credit Union Partner, PLLC.Your Credit Union Partner (YCUP) is a trusted advisor to the leaders of more than 100 credit unions located throughout … Web: Detailslast_img read more

When remote work becomes routine

first_img ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr continue reading » As the coronavirus pandemic spreads through 2020, remote work is becoming the norm for nonessential business operations. In this new reality, credit unions should prepare for a shift in an important segment of operations: the annual opinion audit.The pandemic did not inspire the first remote audit; however, it has amplified the trend. As travel becomes riskier and information sharing becomes more secure, CPA firms and credit unions are comfortably, confidently administering audits remotely.“We’ve been building our infrastructure these past few years to do more of our work remotely,” says Brian Mogensen, principal at CliftonLarsonAllen. “The work is in preparing, reviewing, and ensuring the reasonableness of financial statements, be they on the balance sheet, income statement, or cash flow statement.”Pre-pandemic, the interim and final fieldwork for most audits occurred on site. A team of auditors would fly into a town for several days, meet with the client every day, and review financial statements in detail. But there’s also work that occurs on a deeper level than that, says Chad Flaherty, senior manager at Moss Adams.last_img read more

Rowan teams up with Palmer Capital

first_imgWould you like to read more?Register for free to finish this article.Sign up now for the following benefits:Four FREE articles of your choice per monthBreaking news, comment and analysis from industry experts as it happensChoose from our portfolio of email newsletters To access this article REGISTER NOWWould you like print copies, app and digital replica access too? SUBSCRIBE for as little as £5 per week.last_img

UAE tells Muslims to pray at home, medical workers exempted from fasting during Ramadan

first_img“Providing food for everyone, with the approach of the Holy Month of Ramadan, is a social priority in our battle against the pandemic,” he said in an English-language Twitter post. “In the UAE, no one sleeps hungry or in need. No one is left.”Millions of foreign workers, many from Asia, form the backbone of Gulf economies and work in sectors that have been hit by the coronavirus outbreak.The pandemic is also likely to disrupt the significant remittances those workers send back to their home countries.  Religious authorities in the United Arab Emirates said medical workers treating COVID-19 patients are exempt from fasting during Ramadan and urged Muslims not to congregate for prayers during the holy month expected to start this week.The Emirates Fatwa Council said in a statement carried on state media late on Sunday that all healthy people are obliged to fast but medical workers on the frontline of the novel coronavirus pandemic need not do so “if they fear that fasting could lead to weakening their immunity or to losing their patients”.It said Muslims should comply with physical distancing while praying during Ramadan and the Eid Al Fitr holiday that marks its end. The UAE has suspended prayer in all houses of worship including mosques as part of containment measures. “Congregating to perform the prayer could endanger lives, an act that is strictly forbidden in Islam,” said the statement.The UAE, the region’s business hub, has recorded 6,781 infections with 41 deaths, the second highest count after Saudi Arabia in the six-nation Gulf Cooperation Council where the number of cases has steadily risen to surpass 26,600 with more than 160 deaths as countries ramp up testing.Several Gulf Arab states have suspended passenger flights, imposed curfews and closed most public venues, but have seen a rise in transmissions among low-income migrant workers, many of whom live in cramped quarters. Some Gulf governments are trying to arrange repatriation flights for expatriates who have lost jobs or been put on leave.UAE Vice-President Sheikh Mohammed bin Rashid al-Maktoum, who is also ruler of Dubai emirate, announced the launch of a humanitarian campaign on Sunday to provide 10 million meals or food parcels to communities hit by the outbreak in the country.center_img Topics :last_img read more