LNG’s calm veneer stripped by Australia strike threat

THE comfort that had characterised natural gas markets in Asia and Europe in recent months was shown to be a mere illusion by the threat of strike action at three major Australian liquefied natural gas (LNG) plants.

In the blink of eye, a market that had looked well supplied and relaxed was turned into a flighty wreck, with prices jumping higher on only the possibility of unspecified labour action at LNG plants operated by Woodside Energy and Chevron in Western Australia state.