SYDNEY - Workers at Chevron's two liquefied natural gas (LNG) projects in Australia plan to escalate industrial action from Thursday (Sept 14) to anything from a total strike to hours-long work stoppages, their union said, increasing the risk of disrupted output from facilities accounting for over five per cent of global supply. Workers at the Gorgon and Wheatstone facilities have...
SYDNEY - Workers at Chevron's two liquefied natural gas projects in Australia plan to escalate industrial action from Thursday to anything from a total strike to hours-long work stoppages, their union said, increasing the risk of disrupted output from facilities accounting for over five per cent of global supply.
Research group EnergyQuest estimated revenue at risk for Chevron and partners from the strikes at about A$76 million per day, though it said not all of that revenue would be lost as some cargoes may be deferred to a later date. Australia is the world's biggest LNG exporter and its main buyers are in Asia. Traders anticipate any cuts to supplies would send Asian buyers competing with Europeans for cargo, spurring spot price volatility in the European gas market.Supply risks
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