Gas prices in Europe rose due to possible strikes in Australia
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European gas prices rose 9% at the open on Monday on fears of a possible supply disruption if Australian producers fail to reach an agreement with unions in talks on Wednesday.
He writes about it Financial Times, ICE exchange data.
On Monday morning, prices in the Dutch TTF hub, which serves as the European benchmark for natural gas, rose to a maximum of 41 euros per MWh (over $470 per thousand cubic meters).
During the day, prices fell somewhat, but at the close of trading they returned to 40 euros per MWh ($460 per thousand cubic meters.
A similar peak was observed in early August, which was caused by the possibility of stopping production at three fields owned by the Australian company Woodside Energy and the American supplier Chevron. The reason is the strikes of workers demanding higher wages and better employment guarantees.
On Sunday, the Offshore Alliance, a group representing the two unions, said the workers had “unanimously supported” giving Woodside seven working days’ notice if their demands were not met by the end of the working day on Wednesday.
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