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European gas prices jump 10% as strikes get underway at major LNG facilities in Australia
European gas prices moved sharply higher on Friday as workers at Australian natural gas facilities went on strike, prompting fears that a prolonged halt to production could squeeze global supplies. The industrial action at the Gorgon and Wheatstone projects in Western Australia follow daily talks this week to try to come to an agreement. The negotiations ultimately failed, however, to resolve a long-running dispute over pay and job security. At present, no further talks are scheduled to take place between U.S. energy giant Chevron and the unions representing workers at the liquified natural gas projects. Work ... (full story)
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