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European NatGas Surges 15% As Strike Threats Mount At Australian LNG Plants
Yet another stunning move in European NatGas on Tuesday as prices soared 15% following last week's 40% jump due to increasing labor action risks in Australia. Bloomberg spoke with energy traders who said the Gorgon facility on Barrow Island off the northern coast of Western Australia had reduced sales over the increasing risks of a strike. Talks were scheduled to take place between union officials and Woodside Energy Group Ltd., one of the two companies operating the affected liquefied natural gas facilities. A Goldman Sachs analysis revealed potential strikes at three top LNG sites operated by Chevron and Woodside ... (full story)