Netherlands TTF September futures have jumped 31% since Monday, closing at 39.823 €/MWh yesterday as workers in Chevron’s Gorgon and Whetstone LNG plants and workers on Woodside’s North West Shelf offshore gas platforms, which supply Woodside’s LNG facility by the same name, threaten to strike over poor pay and working conditions. Negotiations with unions have begun and are set to continue into next week. Unions have yet to call for any action, which could range from a minor pause to an all-out strike affecting the supply of ~10% of the global LNG market. To avoid counting our chickens before they hatch, it is important to acknowledge that this is a developing story that we will have to keep our eyes on.
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- Analyst Insight
EIA Storage Report and Australian LNG Workers Strike!
EIA Storage Report and Chevron LNG workers announce strike action next week! Why aren’t markets budging?
- Blog
I’m Back (Back in the LNG Groove), Encore Edition - How Woodside's FID on Louisiana LNG Shakes Things Up
Woodside Energy’s final investment decision (FID) on the $17.5 billion Louisiana LNG terminal was a stunner. For one thing, only 1 million metric tons per annum (MMtpa) of the project’s 16.5 MMtpa (2.2 Bcf/d) of capacity is under contract — U.S. LNG export projects typically have commitments for two-thirds or more of their output before pulling the trigger. The project will also have an outsized impact on gas flows in a region already struggling to keep up, and it may well upend plans for other projects in the works. In today’s RBN blog, we take a closer look at Louisiana LNG, Woodside’s daring development approach, and the terminal’s impacts on gas demand, gas flows and pre-FID projects.
- Blog
I’m Back (Back in the LNG Groove) - How Woodside's FID on Louisiana LNG Shakes Things Up
Woodside Energy’s final investment decision (FID) on the $17.5 billion Louisiana LNG terminal was a stunner. For one thing, only 1 million metric tons per annum (MMtpa) of the project’s 16.5 MMtpa (2.2 Bcf/d) of capacity is under contract — U.S. LNG export projects typically have commitments for two-thirds or more of their output before pulling the trigger. The project will also have an outsized impact on gas flows in a region already struggling to keep up, and it may well upend plans for other projects in the works. In today’s RBN blog, we take a closer look at Louisiana LNG, Woodside’s daring development approach, and the terminal’s impacts on gas demand, gas flows and pre-FID projects.
