Workers at offshore facilities serving Woodside’s North West Shelf LNG project are seeking a strike, according to results of the voting published Wednesday by Australia’s Fair Work Commission.
The Australian Workers’ Union voted for protected action options, according to the document
NOTE: That follows a vote to strike by workers at two of Chevron’s LNG facilities in Australia earlier this week; no clarity on timing of a possible action yet
A Woodside spokesperson said Wednesday the “positive progress” is being made in negotiations and that “parties have reached an in-principle agreement on a number of issues”
Australia is one of the largest exporters of LNG so any threat to supply sends a shiver through the global market. The reaction in European markets this morning was swift. The price of natural gas in the Netherlands jumped by 40%. On the chart it looks like a blip relative to the size of the move posted in the aftermath of Russia’s invasion of Ukraine.Click HERE to subscribe to Fuller Treacy Money Back to top