Woodside reaches deal to ward off gas worker strikes
Make us a preferred source
Make us a preferred source on Google
The news: Woodside has struck an 'in-principle' agreement with unions, potentially heading off strikes that could have disrupted global gas supply. Union members were set to vote Thursday on whether to endorse the deal and withdraw a notice of industrial action, said Offshore Alliance, a union partnership.
The numbers: As the potential for strike action grew, European gas prices cracked €40 ($67.15) for the first time since June and went as high as €43.60 on Tuesday. Prices have since eased to €36.48. Workers at three Woodside-operated offshore liquified natural gas platforms, accounting for roughly 10% of world LNG exports, had threatened to strike over working conditions and wages.
The context: The Russia-Ukraine war, supply chain issues and rising transport costs are playing a role in rising energy prices, and the recent threat of industrial action lit a match under gas prices as Europe prepares for its second winter since Russia's invasion.
What they said: "Without the unbending support of their rank and file, unions are as handy as an ashtray on a motorbike," Offshore Alliance said in a Facebook post.
The sources: Offshore Alliance post, Wall Street Journal
