Attempt by two companies to avoid LNG strike in Australia
Chevron and Woodside Energy Group said they are in talks with unions to prevent possible strikes over wages and working conditions at Australian facilities that supply around 10 percent of Australia’s liquefied natural gas (LNG).
Concerns over strikes at offshore gas platforms at Woodside’s northwest platform and Chevron’s Gorgon and Wheatstone LNG plants pushed European gas prices to their highest level in almost two months yesterday.
Potential strikes at Australian LNG facilities could disrupt Australia’s LNG exports and increase competition for reefer fuel, forcing Asian buyers to overpay their European buyers to receive LNG cargoes.
99 percent of workers support the strike
Japanese and South Korean companies are the largest buyers of LNG under the North West Shelf project, with LNG from Chevron’s Gorgon and Wheatstone plants going primarily to Japan.
Nearly 99 percent of workers at the North West Shelf LNG facility operated by Woodside, Australia’s largest LNG facility, support the strike. (Reuters)
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
