Chevron Australia LNG workers start strike
Workers at Chevron’s liquified natural gas projects in Australia have begun striking with no further talks planned. How will this impact global gas prices? IG financial analyst @AngelineOng takes a look.
(Video Transcript)
Gas prices spike 12% in France after Australian strike
Workers at Chevron's liquified natural gas (LNG) projects in Australia have gone on strike. Talks have broken down and no further discussions are scheduled. Just looking at Chevron's share price for you, because we have been keeping an eye on this story very closely, because there is no imminent danger of LNG or rather gas prices being disrupted just yet.
But it has to be said that Australia is the world's biggest LNG exporter and its main buyers are in Asia. But it has also got a knock-on impact on prices in Europe. Gas prices in Europe spiked as much as 12% after the strike development.
Now, what's also key is looking ahead. So where is the salad dressing? If these strikes continue, then we could potentially see more impact in terms of on the gas markets and energy markets as we head into the colder winter months. The disruption at the moment from those facilities account for more than 5% of global supply.
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