Gas Prices Jump as LNG Workers Begin Long-Awaited Strikes
- Impacted operations accounted for 7% of global supply in 2022
- Europe gas prices jumps as much as 13%, spot Asia LNG gains 5%
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Liquefied natural gas workers at key Chevron Corp. sites in Australia began partial strikes Friday after talks failed to reach an agreement in a dispute that’s roiled global gas markets.
Benchmark gas futures in Europe jumped as much as 13% on the news, which highlights the region’s vulnerability after last year’s energy crisis. Spot LNG in Asia also gained. Partial strikes began at 1 p.m. Perth time at the Gorgon and Wheatstone facilities, which accounted for about 7% of global LNG supply last year.