Australia’s unions have given Woodside Energy Group, Australia’s largest independent oil and gas company, until Wednesday to respond to their demands. Otherwise work interruptions will follow. Employees at Chevron also consult with unions about actions. If Woodside Energy does not comply with the wishes of the unions, united in the Offshore Alliance, there will be a strike from September 2. Union members would have unanimously agreed to the strike. Consultations have been taking place at Chevron since Friday.
The installations of both companies account for 10 percent of the total worldwide deliveries of liquefied natural gas (LNG). A delay in those deliveries due to a strike means that Asian buyers, for example, are looking for alternatives. This could lead to more competition for European LNG customers, which could drive up natural gas prices.
Gas traders have been looking at Australia with suspicion for some time because of the impending strikes. Despite a slight fall in European gas prices for the weekend, prices rose for the third consecutive time on a weekly basis. The decrease is mainly due to the well-filled gas storage facilities in Europe.