Experts warn volatility from strikes at Woodside and Chevron gas plants in Australia could mean higher bills for households and industry this northern winter.
| Gas is back as a risk to the global economy with potential strikes in major producer Australia threatening to shatter the fragile balance of global supplies – and send consumer bills rising once more.
While the facilities’ owners made billions of dollars from the turmoil that sent gas prices to record highs last year, their workers have demanded to receive higher compensation, too, with unions set to continue negotiations on Tuesday. Europe, which was hit hard by Russia’s decision to curb pipeline flows, is still in jeopardy, and executives of major energy companies have warned in recent weeks that a cold winter and unexpected outages could still put the region at risk of shortages.
They have also provided 14 per cent of China’s imports and 28 per cent of Singapore’s. Their usual buyers could be forced to look for fuel on spot markets instead, since the pool of LNG supply is still largely limited.
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