Labor unions went on strike Friday at Chevron Corp.’s Gorgon and Wheatstone LNG export terminals in Western Australia, and no further negotiations over pay and working conditions are planned, the company said. Periodic work stoppages started at 1 p.m. Perth time Friday and will now occur in blocks over the course of several hours each…
Australia
Articles from Australia
Australia Helped Give Rise to LNG Market, but Domestic Volatility Could Reshape Trade – Column
The Australian LNG industry has drawn a great deal of attention in the last year, which is no small achievement when considering the war in Ukraine and the anxiety currently surrounding the Chinese economy.
Threat of Australian LNG Strikes Diminishing as Woodside Reaches Union Deal
Woodside Energy Group Ltd. said Thursday it has a tentative deal with labor unions to avert a strike at its North West Shelf (NWS) LNG terminal in Western Australia, while Chevron Corp. indicated it was moving closer to a similar settlement at its facilities. Woodside said it reached an in-principle agreement with workers on the…
Woodside Reviews Closing One NWS LNG Train on Falling Natural Gas Volumes
Woodside Energy Group Ltd. is considering whether to take one of the five LNG trains connected to its North West Shelf (NWS) Project offline as it works to attract more third-party natural gas partners. In its half-year results, Australia’s largest energy company disclosed the NWS partnership was assessing the cost saving benefits of placing one…
More Australian Offshore Workers Approve Strike Action, Spiking Global Natural Gas Prices – LNG Recap
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…
Commonwealth LNG Targets Early 2024 FID After Kimmeridge Equity Agreement
Commonwealth LNG LLC disclosed it has reached a milestone in the development of its 9.3 million metric ton/year (mmty) proposed natural gas export facility in Cameron Parish, LA with a combined equity, offtake and feed gas supply agreement. Houston-based Commonwealth said it has closed an agreement with Kimmeridge Energy Management Co. LLC for a minority…
More Talks Scheduled to Avoid Strikes at Australia LNG Terminals – The Offtake
Negotiations to avert labor strikes at Woodside Energy Ltd.’s North West Shelf LNG export facility and Chevron Corp.’s Wheatstone and Gorgon facilities continued Friday. Another round of negotiations between the Offshore Alliance and the companies is scheduled for Tuesday (August 15). Talks over wages and working conditions have continued for months. The facilities can produce a combined 40 million metric tons/year of LNG, representing about 10% of global capacity.
TTF Rally Loses Steam, but Specter of Australian LNG Strikes Puts Market on Edge
European natural gas prices fell Thursday after the dust settled from Wednesday’s rally over supply concerns tied to potential strikes at LNG terminals in Australia that are likely to keep the market more volatile until labor negotiations are resolved. The prompt Title Transfer Facility (TTF) contract closed 7% lower to finish just shy of $12/MMBtu…
TTF Prices Surge as Strikes Loom at Australian LNG Export Terminals – The Offtake
Labor unions in Australia have escalated negotiations with Woodside Energy Group Ltd. and Chevron Corp. by voting overwhelmingly to go on strike if necessary. Strikes haven’t started, but the Australia Workers’ Union and Maritime Union authorized protected industrial action. The move sets the stage for potential work stoppages that could put nearly 10% of global LNG capacity at risk of shutting down.
Japan’s LNG Buyers Increasingly Frustrated with Australia’s Energy Policy
Australia could lose long-term LNG supply contracts with Japan under recent government policy changes over the past several months that appear to undermine the country’s natural gas industry. Under the Australian Domestic Gas SafeGuard Mechanism (ADSGM) passed earlier this year, the government is allowed to divert liquified natural gas feedstock to meet domestic demand, and…