European natural gas prices declined Monday despite a further escalation in Australian labor strikes at Chevron Corp.’s LNG export terminals over the weekend.

The October Title Transfer Facility (TTF) contract declined 6% Monday to finish below $11/MMBtu. Prices were pushed lower by an uptick in Norwegian natural gas production and mild weather, along with strong storage inventories. 

Chevron Corp. said it has resumed full production at its Wheatstone liquefied natural gas terminal in Western Australia after a turbine tripped there last week and cut output to 80% of capacity. The repairs were made despite 24-hour walkouts started by labor unions over the weekend at Wheatstone and the Gorgon LNG plant that expanded partial work stoppages.

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