Industrial (in)action

Global gas prices fell even as Australian unions set a date to strike. What gives? EU LNG chart deck: 28 Aug-1 Sep 2023

Global gas markets presented us with another paradoxical situation last week. Prices in Europe and Asia fell even as strike action was confirmed at the Chevron-operated Wheatstone and Gorgon LNG plants in Western Australia.

Prices on front-month Dutch TTF, the European benchmark, spiked when strike fears first surfaced at three Australian LNG plants. One…