Global LNG prices ratcheted up at the start of the week as the latest news on potential Australian labor action at one of the country’s largest export facilities increased the risk of European and Asian competition ahead of winter.

The majority of union workers at Woodside Energy Group Ltd’s Northwest Shelf (NWS) offshore platforms, which feed the country’s largest liquefied natural gas terminal, approved the use of work stoppages or an all-out strike if an agreement isn’t reached, according to ballot results published Sunday. Union workers at the NWS facility approved labor action in a similar vote last week.

“Offshore Alliance members have unanimously endorsed giving Woodside seven ‘Working Days’ notice of Protected Industrial Action if” bargaining claims...