Workers at Chevron's liquefied natural gas (LNG) facilities in Australia are set to go on strike next week due to an ongoing labor dispute.
Offshore Alliance, representing Australian Workers’ Union and Maritime Union of Australia, has announced over 20 types of industrial action, including work bans and complete stoppages.
The strikes are scheduled to start next Thursday and were voted for by almost all union members, affecting Chevron's Gorgon and Wheatstone facilities.
These facilities are significant; if strikes halt production for a month, around 7% of global LNG supply could be lost.
The strikes could lead to price rises, especially if the action escalates, causing uncertainty about duration.
European natural gas prices rose due to the news, with concerns about supply shocks.
Europe has increased reliance on global LNG due to decreased Russian pipeline gas supply after the Ukraine invasion.
Despite high storage levels, traders expected supply disruptions, leading to increased prices.
Union workers at Chevron and Woodside planned strikes, but the Woodside strike was called off due to a deal.