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Wärtsilä Power Plants has been recognised with two awards for technical papers presented at the Power-Gen Asia 2013 conference & exhibition and the Asian Power Awards 2013 event.At the Asian Power Awards 2013, an annual event that recognises “best-of-the-best” practices in Asia’s power generation and supply sectors, Wärtsilä received the Bronze award for the study “Improving Power System Efficiency with Fast Flexible Power – Case Thailand” in the Innovative Power Technology of the Year category. Wärtsilä also received the ’Highly Commended’ award for its conference paper “Small and Medium size LNG for Power production”, presented at the main Power-Gen Asia 2013 conference. Wärtsilä’s awards represent a strong endorsement of the company’s commitment and dedication to improving total power system efficiencies through fast and flexible power systems.Asian Power AwardsThe Asian Power Awards study “Improving Power System Efficiency with Fast Flexible Power – Case Thailand” was written by Saara Kujala, Manager, Development & Financial Services, Wärtsilä Power Plants, and Sushil Purohit, Regional Director, South-East Asia & Australia, Wärtsilä Power Plants. It illustrates how creating a fast and flexible power supply using gas-fired combustion engines can yield savings of some USD 260 million a year for Thailand’s energy sector.A total of 16 projects were nominated in the category, from which three winners were selected. The judging criteria included effectiveness, innovation, and dynamism. The case study submitted by Wärtsilä highlighted the power situation in Thailand where the requirement for flexibility is especially high. The country’s system is characterized by three distinctive load peaks within a 24 hour cycle, and an average annual growth in peak demand of more than 4 per cent. This creates a critical need to maintain and even increase efficiency through the inclusion of fast and flexible response capability.In accepting the award, Saara Kujala noted: “In the paper we argue that the key to implementing cost savings is to assess the most feasible technical solution based on its impact on the entire power system, rather than sub-optimizing the efficiency of individual power plants.”Wärtsilä’s paper concludes that flexible power plants can help to improve the performance of an entire power system, yielding benefits not revealed in a narrow power plant level electricity cost analysis. Investments in fast flexible power can be implemented gradually to match the growth in power demand.Power-Gen Asia 2013 conference paper awardThe successful Power-Gen Asia conference paper “Small and Medium size LNG for Power production” was submitted by Kari Punnonen, Business Development Manager, Middle East, Asia and Australia, Wärtsilä Power Plants. The study looks at the feasibility of investing in a single-purpose Liquefied Natural Gas (LNG) terminal in conjunction with a power plant as an alternative to a power plant fuel feeding system. Natural gas is increasingly becoming the fuel of choice for power plant operators for both cost and environmental reasons, and Punnonen’s study makes the case for a dedicated terminal as a means of overcoming infrastructure deficiencies.“Wärtsilä’s gas engine and dual-fuel technology is opening the doors to economic and environmental sustainability for power plant operators around the world. This study offers a viable means of ensuring the supply of natural gas,” said Sushil Purohit, Regional Director, South-East Asia & Australia, Wärtsilä Power Plants in accepting the award on behalf of Kari Punnonen.[mappress]LNG World News Staff, October 10, 2013; Image: Wartsila
Norway’s Statoil and its US-based partner Exxon Mobil today announced that the Giligiliani-1 exploration well has resulted in a new natural gas discovery offshore Tanzania.The discovery of an additional 1.2 trillion cubic feet (tcf*) of natural gas in place in the Giligiliani-1 well brings the total of in-place volumes up to approximately 21 tcf in block 2.The Giligiliani-1 discovery is located along the western side of block 2 at a 2,500-metre water depth. The new gas discovery was made in Upper Cretaceous sandstones.“This discovery has proven the gas play extends into the western part of block 2, which opens additional prospects. Our success rate in Tanzania has been high and opening up a new area will be key to continuing our successful multi-well programme,” said Nick Maden, senior vice president for Statoil’s exploration activities in the Western Hemisphere.The drillship Discoverer Americas will now drill the Kungamanga prospect located in the central part of block 2.The Giligiliani-1 discovery is the venture’s seventh discovery in block 2. It is preceded by the five high-impact gas discoveries Zafarani-1, Lavani-1, Tangawizi-1, Mronge-1 and Piri-1, and a discovery in Lavani-2.Statoil operates the licence on block 2 on behalf of Tanzania Petroleum Development Corporation (TPDC) and has a 65% working interest. ExxonMobil Exploration and Production Tanzania Limited holds the remaining 35%. Statoil has been in Tanzania since 2007, when it was awarded the operatorship for block 2.[mappress mapid=”189″]
Iran is negotiating cooperation on construction of floating liquefied natural gas plants (FLNG) with an undisclosed industry major, according to the head of the National Iranian Gas Company Alireza Kameili.The announcement comes ahead of the long-anticipated deal on lifting of sanctions against Iran, which have, among other things, frozen several LNG projects.“Due to their high economic viability, Iran is moving in the direction of building FLNG plants,” Kameli is quoted as saying by Iranian Press Tv.Kameli added that preliminary talks are underway with more than 170 foreign companies which are ready to receive gas from Iran.However, as the talks between the western powers and Tehran further prolong with several missed deadlines on sealing the deal, it is unlikely that sanctions will be lifted before the fourth quarter of 2015.On the other hand, Iran has made it clear that it will endeavour to return exports to pre sanction levels if the embargo is lifted.“Whilst Tehran claims it could increase production immediately by 500,000 b/d and then another 500,000 b/d six months later, most market participants are more pessimistic,” Gibson Shipbrokers says in its tanker report.However, oil/condensate in floating storage, which Gibson estimates at approximately 42 million barrels, could be quickly released.Iran’s return to the market would be welcome in terms of increasing production in an oversupplied market, notably with regards to difficulties in placing and discharging cargoes ashore, Gibson claims. However, with more Iranian crude, comes the release of more Iranian tonnage.The Iranian fleet currently consists of 37 VLCCs (5.8% of the global VLCC fleet), 12 Suezmaxes and 5 Aframaxes, with most currently absent from the conventional tanker market. The Iranian fleet will need to re-establish compliance with international standards if it is to enter the mainstream spot markets.“Therefore, the net effect is not only more ships, but also improved trading efficiency, bolstering the supply fundamentals,” Gibson added.
Assura Properties plc (Assura), a wholly owned subsidiary of Assura Group Limited, which owns a £542m portfolio of primary care properties in the UK, secured £110m of funding at the close of last year, not through the traditional route of bank lending but via a 10-year bond issue. Both the size of the issue and the attractive coupon will be of particular interest to mid-size businesses currently struggling to secure long-term bank finance at an affordable rate. At the relatively modest level of £110m the issue was some way below the usual benchmark of £500m for a bond issue, a figure that is often in excess of the capital requirements of mid-size companies. In addition to constituting a manageable level of debt for a company of this size, the issue was priced at the rate of 4.75% interest and loan-to-value covenants were set at 75%, both of which compare favourably with current bank market alternatives. Entering the capital markets to raise finance inevitably raises its own set of challenges for the company and Assura was no exception. Assura was required to perform an intra-group re-organisation to ringfence the assets securing the issue and to reduce its share capital to ensure its balance sheet met the requisite tests for conversion from a private to a public company. The share capital reduction was carried out under the Section 642 Companies Act 2006 procedure (which does not require court approval for the reduction). The asset transfers were performed at ‘market value’ with the outstanding consideration subsequently being capitalised. As the bond was to be listed on the Professional Securities Market of the London Stock Exchange, listing particulars rather than a full prospectus were required to be produced. The security for the issue comprised a fixed and floating charge over sixty different properties owned by four separate entities within the Assura group. Each property required a full review and certificate of title for the benefit of the Prudential Trustee Company Limited, the security trustee. One of the properties was situated in Scotland, requiring input from Scottish property and corporate specialists. The interests of bondholders were protected by a trust deed entered into with the security trustee. The funding was being used to refinance Assura’s indebtedness to National Australia Bank, so the bond needed to be issued at the same time as the indebtedness was agreed to be repaid. The bond issue was also concluded simultaneously with a £35m rights issue by Assura Group Limited, the Guernsey registered and LSE-listed parent company of the Assura group, which was used to fund the balance of the indebtedness. As a result of the bond issue, Assura has refinanced its traditional bank debt in its entirety in favour of long-term institutional investment. Assura’s route to re-financing may have demonstrated a new and cost-effective way of funding mid-range businesses. Bond issues can provide access to capital through the public markets at rates more attractive than those provided by banks, and are clearly not the sole preserve of major corporates. On a personal note, for us as a mid-sized firm this was a very sizeable deal and we are particularly pleased to be associated with what may prove to be a new capital market for smaller enterprises. Melvin Pedro, is a partner at Manches, which worked with Assura on the deal
Legislation will remove uncontested road traffic offences from the courts to be dealt with by a single magistrate in an office, the justice secretary has told bench chairs.Addressing the National Bench Chairmen’s Forum, Chris Grayling said: ‘It’s utterly absurd that three magistrates should spend their time rubber-stamping foregone conclusions in simple road traffic cases.’Where the defendant does not contest the case, Grayling said, one magistrate could deal with it more efficiently on the papers. Confirming proposals announced last month by his colleague Damian Green, Grayling indicated that the government will legislate to free magistrates to focus on more ‘serious and contested cases’.Grayling also wants to address the reason why 40% of defendants sent to the Crown court for sentence receive no more than six months’ imprisonment – a sentence that magistrates could have passed.He said that an Offender Rehabilitation Bill will also introduce new licence and supervision measures for people serving short custodial sentences and create powers for magistrates to deal with offenders who breach the conditions of their supervision.Elsewhere in the speech, he criticised as a ‘scandal’ the fact that fewer than half of trials proceed as planned in the magistrates courts.
Unsuccessful bidders are expected to issue judicial review proceedings on Thursday over the Legal Aid Agency’s procurement process for new criminal legal aid contracts.The agency responded to a letter before claim for judicial review from seven firms, including Kaim Todner Solicitors and GT Stewart Solicitors, on Friday.Kaim Todner managing director Karen Todner (pictured) said there were now 44 firms behind the JR action and part of the newly formed Fair Crime Contracts Alliance.Todner said the alliance was formed because ‘we want to embrace anyone affected by this unfair process’.The alliance can include non-bidders, members of the bar ‘and perhaps even some successful bidders who want to ensure they have been awarded contracts under a fair process’, Todner said.Last week Todner confirmed that procurement law challenges had been issued in 69 out of 85 procurement areas.With claims issued before contracts have been signed, the agency is now believed to be subject to an automatic suspension under the Public Contracts Regulations 2006 in those 69 areas.It is believed some firms have issued particulars of claim and some are applying for an extension of time to file particulars of claim pending further disclosure of information from the LAA.GT Stewart founder Greg Stewart said his firm, which was offered one contract out of 22 bids, will file for an extension of time at the Technology and Construction Court tomorrow morning.Once particulars of claim are issued, the Ministry of Justice has 14 days to file a defence or file an acknowledgement of service. If it chooses the latter option, the ministry then has another 14 days to file a defence.Some successful bidders said they were ‘in the dark’ about what is happening with the new contracts, which are expected to start on 11 January.Ian Henery, managing director of West Midlands practice Ian Henery Solicitors, said his firm had heard ‘absolutely nothing’ from the agency since being told contracts would be entered into from 2 November.‘How can we run a business… unless we know what’s going on,’ Henery said. ‘We’re just sitting on our hands, anxious to take on good people, but we dare not until we’ve signed a contract.’
A headteacher was correctly dismissed for not disclosing her friendship with a man who had been convicted of making indecent images of children, the Supreme Court ruled this morning – in a case which president Baroness Hale suggested missed an opportunity to consider important points of employment law.In Reilly (Appellant) v Sandwell Metropolitan Borough Council, the court ruled that dismissal of Caroline Reilly from a school (which cannot be named because of reporting restrictions) to be fair. It was backing rulings from the Court of Appeal, Employment Appeal Tribunal (EAT) and Employment Tribunal.In lead judgment, Lord Wilson said: ‘It was reasonable for the school disciplinary panel to have concluded that the appellant’s non-disclosure of her friendship with a man convicted of making indecent images of children not only amounted to a breach of duty, but also merited her dismissal.’ Lords Carnwath, Hughes and Hodge agreed.Lady Hale’s concurring judgment argued that had the case been argued differently, it might have presented an opportunity for the Supreme Court to consider two points of ‘general public importance.’These are: whether a dismissal based on an employee’s conduct can ever be fair if that conduct is not in breach of the employee’s contract of employment; and whether the approach laid down in 1978 by the EAT in British Homes Stores Ltd v Burchell is correct. In Burchell, an employee was dismissed for misconduct but the EAT explained that a tribunal is not there to consider whether the employee was actually guilty of misconduct when determining whether the dismissal was fair.According to Hale, this approach can lead to dismissals that were fair being treated as unfair and dismissals which were unfair being treated as fair.‘It is not difficult to think of arguments on either side of this question but we have not heard them,’ she wrote.Hale added that parliament has had the opportunity to clarify the approach, which it has not done, and that those who are experienced in the field ‘may consider that the approach is correct and does not lead to injustice’.‘It follows that the law remains as it has been for the last 40 years and I express no view about whether that is correct,’ she added.Reilly was represented by Martin Palmer instructed by employment specialists Spencer Shaw Solicitors. Sandwell was represented by Sarah Hannett and Anna Bicarregui, instructed by Sandwell MBC Legal Services.
Gambia new vice president, Fatoumata Jallow Tambajang (center) [Photo – Reuters] Gambia’c new vice president, Fatoumata Jallow Tambajang (center) [Photo – Reuters]President of The Gambia, Adama Barrow, has officially appointed Fatoumata Jallow-Tambajang as his vice-president. The president announced it via his Twitter handle on Thursday, November 9, 2017.Barrow had named her his vice in January this year after beating long-serving Yahya Jammeh in elections last December. The appointment was, however, mired in controversy as the nominee was said to have exceeded the age limit to hold the office.Local media reports indicate that the necessary legal rectifications were done in order to properly allow her to occupy the post. The president described her as ‘a woman with wealth of experience highly required for rebuilding the New Gambia.’Photos from the presidency showed Barrow handing her a legal document after which she is seen appending her signature to a register. Barrow himself took two oaths of office, first in Senegal where he was based at the height of the political crisis with Jammeh’s refusal to leave. The second was post-Jammeh, on a date that coincided with the country’s independence.https://twitter.com/BarrowPresident/status/928699389140504578Fatoumatta Jallow-Tambajang is a prominent pro-democracy activist was part of the opposition coalition that unseated Yahya Jammeh. She is touted as one of the main brains behind the formation of a coalition going into the December 1, 2016 polls.
Related Topics The Cleveland Indians domination of Detroit continued on Sunday afternoon, as the Tribe swept the Tigers for the third time this season, winning 9-3.The Tribe is now 9-0 against Detroit, with six of those games coming on the road.Four Indians homered in the fifth inning off Justin Verlander, removing all doubt of who would come out on top.Josh Tomlin worked eight innings, allowing three earned runs on six hits. He struck out three and walked one, maintaining his league-leading strikeout-to-walk ratio.Tomlin improves to 9-1 on the season, the Indians improve to 44-30 on the season, and hold a 5.5 game lead on the Kansas City Royals for first place in the Central Division.The Tribe heads to Atlanta for a three-game series against the Braves, followed by a four-game weekend series in Toronto to wrap up their ten-game road trip.Trevor Bauer takes the hill for the Tribe against John Gant. First pitch is scheduled for 7:10 PM Monday. Matt Medley is co-editor at NEO Sports Insiders, covers the Cleveland Cavaliers, Cleveland Indians and high school sports in Northeast Ohio.Follow @MedleyHoops on Twitter for live updates from games. Matt Medley