Month: May 2021

Paleolimnology in the High Arctic – implications for the exploration of Mars

first_imgPaleolimnology provides information on the past chemical, physical and biological nature of water bodies. In polar regions, where global climatic changes can be exacerbated compared with lower latitudes, the science has become important for reconstructing past changes and in so doing, predicting possible effects of future changes. Owing to the association of life with water bodies, particularly stable water bodies sustained over many millennia, paleolake regions on the surface of Mars are of exobiological importance. In this mini-review, we use experience gathered in the High Arctic to describe the importance of paleolimnology in the Earth’s polar regions as it pertains to the future application of this science to robotic and human exploration missions to the planet Marslast_img read more

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Use of radium isotopes to estimate mixing rates and trace sediment inputs to surface waters in northern Marguerite Bay, Antarctic Peninsula

first_imgIn the western Antarctic Peninsula region, micronutrient injection facilitates strong plankton blooms that support productive food webs, unlike large areas of the low-productivity Southern Ocean.We use naturally occurring radioisotopes of radium to constrain rates of chemical fluxes into Ryder Bay (a small coastal embayment in northern Marguerite Bay), and hence to evaluate possible sources of sediment-derived micronutrients and estimate sediment-ocean mixing rates. We present the first coupled, short-lived radium isotope (223Ra and 224Ra) measurements from Antarctic waters, both present at very low activities (mean 0.155 and 3.21 dpmm-3, respectively), indicating much lower radium inputs than in other coastal environments. Longer-lived 228Ra activity was also lower than existing nearshore values, but higher than open ocean waters, indicating some degree of coastal radium input on timescales exceeding the week-to-month range reflected by 223Ra and 224Ra. Using a simple diffusion model along a shore to mid-bay transect, effective horizontal eddy diffusivity estimates ranged from 0.22–0.83m2 s-1 from 223Ra and 224Ra, respectively, much lower than already-low mixing estimates for the Southern Ocean. Significant radium enrichment and much faster mixing (18m2 s-1) was found near a marine-terminating glacier and consequently any sediment-derived micronutrient inputs in this location are more probably dominated by glacial processes than groundwater, land runoff, or marine sediment sources.last_img read more

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Genetic connectivity from the Arctic to the Antarctic: Sclerolinum contortum and Nicomache lokii (Annelida) are both widespread in reducing environments

first_imgThe paradigm of large geographic ranges in the deep sea has been challenged by genetic studies, which often reveal putatively widespread species to be several taxa with more restricted ranges. Recently, a phylogeographic study revealed that the tubeworm Sclerolinum contortum (Siboglinidae) inhabits vents and seeps from the Arctic to the Antarctic. Here, we further test the conspecificity of the same populations of S. contortum with additional mitochondrial and nuclear markers. We also investigate the genetic connectivity of another species with putatively the same wide geographic range – Nicomache lokii (Maldanidae). Our results support the present range of S. contortum, and the range of N. lokii is extended from vents and seeps in the Nordic Seas to mud volcanoes in the Barbados Trench and Antarctic vents. Sclerolinum contortum shows more pronounced geographic structure than N. lokii, but whether this is due to different dispersal capacities or reflects the geographic isolation of the sampled localities is unclear. Two distinct mitochondrial lineages of N. lokii are present in the Antarctic, which may result from two independent colonization events. The environmental conditions inhabited by the two species and implications for their distinct habitat preference is discussed.last_img read more

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Differentiation of high-latitude and polar marine faunas in a greenhouse world

first_imgAim The aim was to investigate those factors that influenced the differentiation of high-latitude and polar marine faunas on both ecological and evolutionary time-scales. Can a focus on a greenhouse world provide some important clues? Location World-wide, but with particular emphasis on the evolution of Antarctic marine faunas. Time period Early Cenozoic era and present day. Major taxa studied Mollusca, especially Neogastropoda. Methods The Early Cenozoic global radiation of one of the largest extant marine clades, Neogastropoda, was examined, and detailed comparisons were made between two tropical localities and Antarctica. High- to low-latitude faunal differentiation was assessed using Sørensen’s dissimilarity index, and component species in each of the three faunas were assigned to 29 families and family groups. Relative diversity distributions were fitted to these three faunas and two modern ones to assess the contrast in evenness between high- and low-latitude assemblages. Results By the Middle Eocene, a distinct high-latitude neogastropod fauna had evolved in Antarctica. In addition, the distribution of species within families in this fauna is statistically significantly less even than that in the tropics. Indeed, there is no detectable difference in the scale of this separation from that seen today. Exactly as in the modern fauna, Middle Eocene Antarctic neogastropods are dominated by a small number of trophic generalist groups. Main conclusions As the hyperdiverse Neogastropoda clade radiated globally through the Early Cenozoic, it differentiated into distinct high- and low-latitude components. The fact that it did so in a greenhouse world strongly suggests that something else besides temperature was involved in this process. The predominance of generalist feeding types in the Antarctic fossil faunas is linked to the phenomenon of a seasonally pulsed food supply, exactly as it is today. Seasonality in primary productivity may act as a fundamental control on the evolution of large-scale biodiversity patternslast_img read more

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A decade of ocean changes impacting the ice shelf of Petermann Gletscher, Greenland

first_imgHydrographic data collected during five summer surveys between 2002 and 2015 reveal that the subsurface ocean near Petermann Gletscher, Greenland warmed by 0.015 ± 0.013°C yr-1. New 2015 – 2016 mooring data from beneath Petermann Gletscher’s ice shelf imply a continued warming of 0.025 ± 0.013°C yr-1 with a modest seasonal signal. In 2015 we measured ocean temperatures of 0.28°C near the grounding line of Petermann Gletscher’s ice shelf, which drove submarine melting along the base of the glacier. The resultant meltwater contributed to ocean stratification, which forced a stronger geostrophic circulation at the ice shelf terminus compared with previous years. This increased both the freshwater flux away from the sub-ice shelf cavity and the heat flux into it. Net summertime geostrophic heat flux estimates into the sub-ice shelf cavity exceed the requirement for steady-state melting of Petermann Gletscher’s ice shelf. Likewise, freshwater fluxes away from the glacier exceed the expected steady-state meltwater discharge. These results suggest that the warmer, more active ocean surrounding Petermann Gletscher forces “non steady-state” melting of its ice shelf. When sustained, such melting thins the ice shelf.last_img read more

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Mountain rescue casualty care and the undergraduate medical elective

first_imgMany UK medical curricula lack dedicated prehospital education other than first aid courses and basic life support training. In contrast, nonmedical mountain rescue team members receive advanced prehospital training addressing scene management and various clinical interventions. This article reports a condensed mountain rescue casualty care course designed for medical students by a mountain rescue team. The course was offered as part of a student-selected module during phase 3A at the University of Sheffield Medical School. Within the module, students also learned the relevant biomedical sciences and clinical skills to construct their knowledge of mountain rescue casualty care.last_img read more

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Prep Sports Roundup: 4/20

first_img FacebookTwitterLinkedInEmailSoftball2-A NorthEAGLE MOUNTAIN, Utah-Emily Brackett posted a pair of doubles and earned the win in the circle, pitching a one-hitter, as the Gunnison Bulldogs decimated Rockwell 18-0 in 2-A North softball action Friday.2-A SouthKANAB, Utah-Autumn Shinksi’s grand slam propelled Kanab to a 21-5 win over Milford Friday in 2-A South softball action.Region 15RICHFIELD, Utah-Gracee Bowers tripled and earned the win in the circle as the San Juan Broncos routed Richfield 12-2 Friday in the first game of a Region 15 softball doubleheader.RICHFIELD, Utah-The San Juan Broncos raced out to a 6-0 lead and never looked back, en route to a 14-9 win over Richfield, completing their Region 15 softball doubleheader sweep of the Wildcats Friday.Baseball2-A NorthSALINA, Utah-Rocky Bringhurst belted a pair of doubles and the North Sevier Wolves hammered Duchesne 11-1 in 2-A North baseball action Friday. Brooks Mickelsen and Stockton Andersen also doubled for the Wolves, while Andersen took the win on the mound for North Sevier.2-A SouthKANAB, Utah-Sam Orton took the win on the mound as the Kanab Cowboys doubled up Milford 10-5 Friday in 2-A South baseball action.Region 14HERRIMAN, Utah-Cayden Horsely went yard, doubled, and earned the win on the mound as the Providence Hall Patriots pummeled Delta 11-1 in Region 14 baseball action Friday.ROOSEVELT, Utah-Rayden Deets tripled and Lincoln Labrum took the win on the mound as the Union Cougars doubled up Juab 4-2 Friday in Region 14 baseball action.Region 15RICHFIELD, Utah-Morgan Albrecht hit a pair of doubles and earned the win on the mound, and Joshua Thalman added another double as the Richfield Wildcats edged South Sevier 4-3 in Region 15 baseball action Friday. Tags: Gunnison/Kanab/North Sevier/Richfield/South Sevier Brad James Written by April 20, 2018 /Sports News – Local Prep Sports Roundup: 4/20last_img read more

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Gary Andersen Returns To Utah State For A Second Head Coaching Stint

first_img FacebookTwitterLinkedInEmailLOGAN, Utah-Sunday, Utah State announced the hiring of former head football coach Gary Andersen for a second stint in Logan, as he replaces Matt Wells, who was hired away by Texas Tech.Andersen was previously the head coach at Logan from 2009-2012, while sporting a record of 26-24 (.520). In his first tour of duty at Utah State, he took the Aggies to a bowl game in 2011 for the first time since 1997 and led the squad to a #16 national ranking in 2012 after which he departed for Wisconsin.Overall, as the head coach at Utah State, Wisconsin and Oregon State, Andersen has a record of 52-54 (.491) and was last a head coach at Oregon State in 2017. He was dismissed at Corvallis, Ore. after posting a 1-5 record to start that season.Utah State president Noelle Cockett lauded Andersen’s excellence as a disciplinarian who ensures his players excel in the classroom as well, saying “he [Andersen] is dedicated to the success of his student-athletes in the classroom.” Tags: Corvallis Oregon/Gary Andersen/Matt Wells/Noelle Cockett/Texas Tech/Utah State Football Brad James Written by December 9, 2018 /Sports News – Local Gary Andersen Returns To Utah State For A Second Head Coaching Stintlast_img read more

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Utah Baseball Commences Season At UC Davis, Saint Mary’s

first_img Tags: Utah Baseball FacebookTwitterLinkedInEmailDAVIS/MORAGA, Calif.-The University of Utah baseball program commences its season this weekend with four road games in northern California.The Utes will play at UC Davis Friday-Sunday and then visit Moraga, Calif. Monday to face the Saint Mary’s Gaels.The Utes, who will play their first 16 games of the season on the road, have brought in the No. 18 recruiting class nationally per Collegiate Baseball. This gives the Utes the publication’s third-overall best class in the Pac-12.Utah is coached by Bill Kenneberg (359-495-1, .420 at Utah; 604-677-1, .471 as a collegiate head coach) who is in his 17th season as the Utes’ skipper.The Utes’ returning statistical leader is redshirt junior infielder Rykker Tom (.279 batting average, 48 hits, home run, 15 RBI in 2019).Redshirt sophomore pitcher Justin Kelly also returns from an elbow injury that kept him out for all of the 2019 campaign to bolster the Utes’ pitching staff.Kelly netted 23 strikeouts in 24.1 innings and a 6.66 ERA.Entering his 9th season as the Aggies’ head coach, Matt Vaughn is 175-255-1 (.407) at the helm of the program.Junior infielder is UC Davis’ returning statistical leader. In 2019, he posted 16 doubles, a .364 batting average, 71 hits, a home run and 31 RBI.Greg Moore is in his first season as Saint Mary’s head coach, as the Gaels hired him this past June.Senior outfielder Ryan Novis is Saint Mary’s returning statistical leader. Last season, Novis posted a .328 batting average, 75 hits, two home runs and 41 RBI.The Gaels lead the Utes 6-5 all-time. February 13, 2020 /Sports News – Local Utah Baseball Commences Season At UC Davis, Saint Mary’s Written by Brad Jameslast_img read more

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AT&T SportsNet Opens Up Jazz Games For Streaming In Utah on AT&T NOW Service

first_imgJuly 23, 2020 /Sports News – Local AT&T SportsNet Opens Up Jazz Games For Streaming In Utah on AT&T NOW Service Written by Brad James Tags: Utah Jazz FacebookTwitterLinkedInEmailSALT LAKE CITY-Per a statement released Wednesday evening, AT&T SportsNet, the cable system broadcasting Utah Jazz games, has made it possible for Jazz fans who have cut the cord to stream the games for the first time.Previously, as soon as Jazz television broadcasts left over-the-air television October 20, 2009, the only way to watch the games was by subscribing to cable or satellite packages.Fans outside of the Jazz’s broadcast window have been able to stream Jazz games by watching with an NBA League Pass subscription.It looks like @UtahJazz fans will finally have a streaming option for Jazz games. Ahead of the NBA return, AT&T TV and AT&T TV Now are going to carry Jazz games for its subscribers.— Ben Anderson (@BensHoops) July 22, 2020AT&T Rocky Mountain Region vice president and general manager Lane Mansell made this announcement, citing the impetus to be because fans cannot attend Jazz games at this time.The Jazz has made this option available in time for Thursday’s scrimmage against Phoenix. This will be broadcast on AT&T SportsNet with a 6:00 pm tip-off.last_img read more

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Idaho State beats Southern Utah with late field goal 26-24

first_imgMarch 6, 2021 /Sports News – Local Idaho State beats Southern Utah with late field goal 26-24 FacebookTwitterLinkedInEmailCEDAR CITY, Utah (AP) — Tyler Vander Waal passed for 238 yards, three touchdowns and no interceptions, and Kevin Ryan kicked a 30-yard field goal with five seconds left to give Idaho State a 26-24 win over Southern Utah.Vander Waal led the Bengals on a 13-play, 60-yard drive to set up the game-winning kick. He completed a 15-yard pass to Jalen Henderson to convert a third-and-13 from the Southern Utah 45 and followed with another first down on a 14-yard keeper with 24 seconds left.Justin Miller completed a 16-yard TD pass to Judd Cockett to give the Thunderbirds a 24-23 lead with 3:38 left. Written by Associated Press Tags: Big Sky/Idaho State Bengals/SUU Thunderbirds Footballlast_img read more

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BW Offshore increases reserve estimates of Hibiscus offshore Gabon

first_img Image: BW Offshore has increased the estimated reserves of the Hibiscus Updip prospect offshore Gabon. Photo courtesy of D Thory from Pixabay. BW Offshore has increased the estimated reserves of the Hibiscus Updip prospect offshore Gabon following the completion of a drilling campaign.The Hibiscus Updip prospect, which is located in the Dussafu license, is now estimated to hold gross recoverable reserves of 40 to 50 million bbls of oil, according to a preliminary evaluation.Borr Norve jack-up drilling rig used to drill exploration wellAccording to the Norway-based operator, the DHIBM-1 exploration well was drilled by the Borr Norve jack-up drilling rig to a total depth of 3,538 meters in water depths of 116 meters.Logging and sampling data confirmed that the well delivered around 21 meters of pay from a 33 meters hydrocarbon column in the Gamba formation.The appraisal side track (DHIBM-1 ST1), drilled 1,100 meters north-west of the original wellbore, encountered 26 meters of pay in the Gamba. Both well exhibited same levels of the oil-water contact, proving the continuity of the hydrocarbon deposit.BW Energy CEO Carl Arnet said: “Hibiscus is the fourth consecutive oil discovery made on the Dussafu license with drilling operations completed safely and within budget.“It is in line with our phased development strategy for long-term value creation at Dussafu through increased production and identifying additional resources.“The Hibiscus discovery and its surrounding prospects represent another area of significant potential in the Dussafu block and we are looking forward to the next phase of the programme as we continue to unlock the potential of the Dussafu field.”The DHIBM-1 well was designed to appraise one of several prospects in the greater Ruche area.The Norway-based operator will complete the evaluation of the Hibiscus Updip discovery and evaluate the optimal commercial development.Meanwhile, the Borr Norve will drill four subsea production wells on the Tortue field – all tied back to the FPSO BW Adolo, before commencing drilling on another exploration well.In May 2018, BW Offshore had completed drilling of DTM-3 appraisal well offshore Gabon. Preliminary evaluation indicates gross recoverable reserves of 40 to 50 million bbls of oillast_img read more

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Saudi Aramco to launch $75bn dividend ahead of IPO delayed by drone attacks

first_imgSaudi Aramco was revealed as the world’s most profitable company on 1 April when it released its debut bond, and has been expanding ever since with a flurry of acquisitions Saudi Aramco IPO announcement follows debut bondSaudi Aramco was revealed as the world’s most profitable company on 1 April when it released its debut bond, and has been expanding ever since with a flurry of acquisitions.The oil and gas giant generated a gargantuan $111bn in profit last year, comfortably topping second-placed Apple, which became the first company to be valued at more than $1tn in August.But drone strikes on its Abqaiq and Khurais oil facilities on 14 September have disrupted the plans for an IPO – initially tabled for 2020 or 2021.Chairman Yassir al-Rumayyan has said publicly that the stock market listing will still go ahead within one year – although Reuters has reported the incident is likely to delay the float while the firm works to rebuild confidence and restore production.Following the attacks, Saudi Arabia’s energy minister was quick to assure traders his country’s oil production would be back to normal by the end of September, while Prince Abdulaziz bin Salman said half the production lost as a result had already been recovered. US shale operators struggling amid the Saudi-led oil price war (Credit: White House/Shealah Craighead) Saudi Aramco has revealed plans to pay a $75bn dividend to investors in 2020, as it forges ahead with preparations for an initial public offering (IPO).A public float has been touted for some time, with a debut bond issued by the state-owned Saudi oil giant in April fanning the flames of speculation the firm was gearing up to go public.However, last month’s drone attacks on two of its key production facilities in Saudi Arabia have reportedly thrown its timetable into uncertainty.The dividend announcement is considered an effort to boost investor interest ahead of a future public offering, with the company still hoping to secure a market valuation as high as $2tn.A corporate overview on the Saudi Aramco website outlines plans for the $75bn shareholder dividend in 2020, as well as a “progressive growing dividend on a sustainable basis at board discretion”.Saudi Aramco added in the statement: “For the years 2020 to 2024, if annual dividends declared would have been less than $75bn, dividends to non-government shareholders are intended to be prioritised so that they receive their pro-rata share of a $75bn equivalent dividend.“In such case, the government will receive the remaining amount of dividend.”Aside from the dividend, Saudi Aramco also announced a change to its royalty payments scheme on Brent crude oil – with the marginal rate amended to 15% for prices up to $70 per barrel, 45% between $70 and $100, and 80% if the price rises above $100.last_img read more

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Petrobras, BP win Campos Basin deep-water block in Brazilian auction

first_imgThe Brazilian oil company’s signature bonus to be paid for the Campos Basin deep-water block is about $350m Image: Petrobras, BP bag rights for C-M-477 block in Campos Basin. Photo: courtesy of C Morrison from Pixabay. Petróleo Brasileiro (Petrobras) in consortium with BP has bagged rights for an offshore block, called C-M-477, in the Campos Basin in Brazil during the 16th ANP Bidding Round.The bidding was held by Brazilian oil regulator – National Agency of Petroleum, Natural Gas and Biofuels (ANP).Petrobras will be the operator of C-M-477 block with a stake of 70%, while BP, through its subsidiary BP Energy do Brasil, will hold the remaining 30% stake.The company stated: “The operation in consortia with major companies is aligned with Petrobras’ strategic objective to strengthen partnerships, sharing risks, combining technical and technological skills and capturing synergies to leverage results.”Petrobras said that its share of the signature bonus to be paid for the deep-water block is about BRY1.43bn ($350m).The Brazilian national oil company said that apart from the signature bonus, the judgment criteria for awarding the Campos Basin block also looked into the minimum exploration programme (MEP) to be applied on the block, and the seismic extension to be used during the exploratory campaign.Petrobras and BP are said to have identified huge geological potential in the Campos Basin block. The Brazilian state-owned company further said that exploratory blocks in the Campos Basin have been highly competitive in the ANP bidding rounds held in 2017 and 2018.The company, in a statement, said: “As in the previous bidding rounds, Petrobras acted selectively in the auction held today, as a result of its strategic vision to recompose its exploratory portfolio, in which it seeks to ensure the sustainability of its future oil and gas production.”Petrobras looking to sell stakes in 11 producing fields in Campos BasinIn August 2019, the company started the sale process for certain exploration and production assets in the shallow waters of Campos Basin. Included in these are its stakes across 11 producing fields that are jointly called Garoupa Cluster.In July 2019, Petrobras signed two separate transactions to sell some other shallow water assets in the Campos Basin and also in the Santos Basin to Trident Energy and Karoon Energy for a total price of $1.5bn.last_img read more

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Profiling North Field East, the world’s largest-ever LNG project

first_img Alongside LNG, the North Field East project will produce LPG, condensate, ethane, sulphur and helium (Credit: Qatargas) Qatar Petroleum is developing North Field East (NFE) – the world’s largest-ever liquified natural gas (LNG) project.The state-owned petroleum firm announced on 8 February it had taken a final investment decision (FID) for the $28.75bn development in Ras Laffan, northeast Qatar, which will raise the nation’s LNG production capacity from 77 million tonnes per annum (Mtpa) to 110 Mtpa.Alongside LNG, NFE will produce liquefied petroleum gas (LPG), condensate, ethane, sulphur and helium. It is expected to start production in the fourth quarter of 2025, with total output set to reach about 1.4 million barrels of oil equivalent per day.On announcing the FID, Qatar Petroleum signed the project’s key onshore engineering, procurement and construction (EPC) contract, which permits the construction of four mega LNG trains with a capacity of 8 Mtpa each, with associated facilities for gas treatment, natural gas liquids recovery, as well as helium extraction and refining within Ras Laffan Industrial City.Saad Sherida Al-Kaabi, Qatar’s minister of state for energy affairs, said: “This project will generate substantial revenues for the state of Qatar and will have significant benefits to all sectors of the Qatari economy during the construction phase and beyond.” What environmental impact will the North Field East project have?Al-Kaabi said the FID on NFE carries even more significance because it “encompasses a number of concrete environmental investments” in support of Qatar’s “strong commitment to achieve the highest environmental standards” and to provide a “credible solution in the low-carbon energy transition”.One of the most notable environmental elements of the project is the carbon capture and storage (CCS) system that will be integrated with its wider CCS scheme in Ras Laffan, which – once fully operational – will be the largest of its kind in terms of capacity in the LNG industry.In addition to the CCS facility, Qatar Petroleum confirmed NFE will also provide a number of other environmental initiatives.A significant portion of the project’s electrical power needs will be sourced from Qatar’s national power grid, and Qatar Petroleum said it is in the process of procuring such power from the 800-megawatt (MW) solar power plant currently under construction in Al-Kharsaah.The energy firm added that it will provide a further 800MW of solar power in the near future as part of its plans to have a solar portfolio of more than 4 gigawatts (GW) by 2030.The project will deliver a “jetty boil-off gas” recovery system, which will help reduce greenhouse gas emissions by about 1 Mtpa of CO2 equivalent.It will also conserve 10.7 million cubic meters of water per year by recovering 75% of the plant’s tertiary water, while nitrogen oxide (NOx) emissions will be reduced by 40% through the application of enhanced Dry Low NOx technology.Farrer said: “Qatar’s decision to construct a CCS facility, as well as additional environmental investments, shows that LNG suppliers are increasingly putting focus on ways that they can mitigate their carbon emissions.“This focus on low-cost supply and carbon emissions is proving attractive to buyers. Last year, QP Trading won a tender to supply Pavilion Energy with 1.8 Mtpa of LNG under a 10-year contract, with specific provisions for assessing and measuring the emissions associated with each LNG cargo delivered.” The development in Ras Laffan, northeast Qatar, will raise the nation’s LNG production capacity from 77 million tonnes per annum (Mtpa) to 110 Mtpa by 2025 North Field East the first phase of North Field expansion projectNFE is being developed as part of the first phase of the North Field expansion project. The expansion falls under the plans for hydrocarbon development within the Qatar National Vision 2030, which aims to provide “long-term maintenance of strategic reserves of oil and gas to meet the needs of national security and sustainable development”.Based about 80km off the Qatar peninsula, North Field was first discovered in 1971 and brought on-stream in 1991.It is believed to be the biggest non-associated natural gas field in the world and is a geological extension of Iran’s South Pars/North Dome Gas-Condensate field – the world’s largest natural gas field.The second phase of the expansion project – North Field South (NFS) – is set to increase Qatar’s LNG production capacity from 110 Mtpa to 126 Mtpa by 2027.NFS involves the construction of two additional mega LNG trains – each with a capacity of 8 Mtpa – and associated offshore and onshore facilities. What impact will the North Field East project have on Qatar and other countries?Al-Kaabi noted that the signing of the EPC arrived at a “critical time” when the world is still reeling from the effects of the global pandemic – which has had a drastic impact on energy demand – and related depressed economies.He said the investment decision is a “clear demonstration of the steadfast commitment” by Qatar to “supply the world with the clean energy it needs”, with a number of countries aiming to reduce emissions and their reliance on high-polluting sources such as coal.North Field East is expected to start production in the fourth quarter of 2025, with total output set to reach about 1.4 million barrels of oil equivalent per day (Credit: Qatargas)Giles Farrer, research director at Wood Mackenzie, claims NFE is likely to be the biggest project sanctioned across the global upstream business this year.“At a long-term breakeven price of just over $4 per million British thermal units, it’s right at the bottom of the global LNG cost curve, alongside Arctic Russian projects,” he added.“Qatar is pursuing market share. This FID is likely to put pressure on other pre-FID LNG suppliers, who may find Qatar has secured a foothold in new markets.“As long-term contracts to sell LNG from some of its existing projects expire and Qatar adds new capacity from NFE and Golden Pass in the US, Qatar is going increasingly long on volume.”Wood Mackenzie estimates the country will have more than 75 Mtpa of uncontracted LNG volume to sell by 2027, which is about 70% of its LNG portfolio.last_img read more

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What impact would Grexit have on UK housing market?

first_imgMany people believe Greece could now exit from the Eurozone after Greek nationals rejected the terms of an international bailout in Sunday’s referendum.By voting ‘no’, the people of Greece have not chosen to return to the drachma. This is not a vote for ‘Grexit’. But there are some European officials who have already warned that creditors could take the ‘no’ vote to mean that Greeks had rejected further talks.So far the UK housing market has remained largely unaffected by the goings on in Greece, thanks partly to the fact that the UK is not part of the Eurozone and so it has not directly contributed to bailing out Greece since the country got into trouble after the financial crisis.The UK has only really provided a fraction of the assistance indirectly through its membership and contributions to the International Monetary Fund (IMF), and as a consequence, Jones Lang LaSalle believes that it is unlikely that even if Greece did leave the eurozone the UK’s housing market would end up being adversely affected.Commenting on the implications of a ‘Grexit’ from the Euro, Andrew Burrell (left), Head of Forecasting at JLL commented, “Our view is that real estate will hold up well, even if the short term dislocation is dramatic. If a last minute deal cannot be secured, the prospect will be increased volatility, capital controls and rising bond yields, adversely impacting on financial markets.”As a result, post-Grexit, core European property markets, including the UK, should continue to benefit from plentiful liquidity and low financing costs.“Debt may become more expensive in peripheral Europe in the short term, but not in Germany, France and the UK.”In fact, Burrell forecasts that given the turbulence elsewhere, many international investors will continue “to be drawn to real estate”, including that of the UK housing market, “for its defensive qualities”.He added, “If the UK economy remains resilient, Grexit may even increase the attractiveness of the UK as a safe haven.”JLL Grexit UK housing market Andrew Burrell July 8, 2015The NegotiatorWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles 40% of tenants planning a move now that Covid has eased says Nationwide3rd May 2021 Letting agent fined £11,500 over unlicensed rent-to-rent HMO3rd May 2021 BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 Home » News » Housing Market » What impact would Grexit have on UK housing market? previous nextHousing MarketWhat impact would Grexit have on UK housing market?Stock markets around the world have fallen after Greece rejected the terms of an international bailout in Sunday’s referendum, but what is set to happen to the UK housing market?The Negotiator8th July 20150543 Viewslast_img read more

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