Australian LNG strike ends

Unions in Australia announced that two-week strikes at Chevron’s two large liquefied natural gas (LNG) facilities in the country have ended.

The union, which is a combination of two unions, said an agreement had been reached to resolve disputes that endanger 7 percent of the world’s LNG supply.

The union and Chevron accepted the mediator’s recommendations on wages and conditions at the Gorgon and Wheatstone LNG facilities. Workers are preparing to end strikes that began two weeks ago.

INCREASED LNG PRICES BY 35 PERCENT

The union said the proposed agreement includes “significant improvements” on issues such as wages and job security.

“Offshore Alliance will work with Chevron to develop a final draft of the agreement and members will finalize current industrial action in the near future,” Offshore Alliance spokesman Brad Gandy said.

The dispute, which was expected to end with a deal, shook global natural gas markets for six weeks and caused LNG prices to rise 35 percent in August. (REUTERS)