European gas prices soar

A strike today at Chevron's liquefied natural gas (LNG) plants in Australia has pushed up European gas prices.

Benchmark natural gas prices in Europe rose 11% today, showing the market remains vulnerable after last year's energy crisis. Prices rose after news that workers at Chevron's plants in Australia went on strike after failing to reach a deal with the company.

The strike began this afternoon. Last year, the plants accounted for 7% of global LNG supply.

Currently, the workers are only on partial strike. But from September 14, they will stop working completely for 2 weeks.

The global gas market has been volatile in recent weeks as traders await the impact of events in Australia. Earlier last month, the Offshore Alliance, which represents two unions in Australia, said it was preparing for a strike at the liquefied natural gas facilities of Chevron and Woodside Energy Group there.

Two weeks ago, Woodside announced a settlement with its workers. Meanwhile, the conflict at Chevron has not been resolved because the two sides still disagree on many core demands.

In a social media post today, the Offshore Alliance said Chevron's demands were the "most unreasonable" of any company it had negotiated with in the past five years. "Our members have had enough," the union said.

The impact of the strike on LNG deliveries may not be immediately felt. Gas consumption in Europe and Asia is relatively quiet. However, the risk of supply disruptions has pushed gas prices higher, as competition among buyers is likely to peak during the peak winter season.

Today's strike "appears to be small-scale, aimed at increasing costs and reducing efficiency for Chevron, but has not yet had an impact on production," said Saul Kavonic, an energy analyst at Credit Suisse Group.

Ha Thu (according to Bloomberg)

Source link: https://vnexpress.net/gia-khi-dot-chau-au-tang-vot-4650934.html