Gas prices in Europe rise amid strike at LNG plants in Australia
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The cost of gas futures in Europe grew by 11%, to $401 per 1 thousand cubic meters. m (€36.20 per 1 MWh). This was reported by Bloomberg with reference to trading data from the TTF gas hub in the Netherlands. The day before, strikes began at two key Chevron LNG plants in Australia.
As Bloomberg notes, strikes cannot yet significantly affect the situation on the gas market, since gas storage facilities in the European Union are filled above target levels. At the same time, the risk of a long strike will put pressure on the EU gas market after the energy crisis last year.
Strikes on two Chevron platforms began today, September 8. As part of them, employees decided to take breaks from work and stop performing some duties.
The strikes were originally scheduled to begin yesterday, September 7, but were postponed pending additional negotiations with Chevron management. A full-scale two-week strike is due to begin on September 14, during which the work of LNG platforms will be completely stopped.
The Chevron employee union first announced plans to strike in early August. Employees are demanding higher wages and better working conditions. Amid reports of a possible strike, the price of gas in Europe at the TTF hub increased by 28% compared to the previous closure, to $453/1000 cubic meters. m.
More details – in the material “Kommersant” “Gas is obtained spot”.
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