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Negotiations Stumble at Chevron: Unions Strike and European Gas Prices Climb

Talks have stalled at Chevron, leading unions to launch a series of strikes over the next three weeks. This has already made gas prices in Europe jump. Two of Chevron’s key plants, Wheatstone and Gorgon, play a significant role in providing gas globally and to Western Australia. These strikes will go on for 10 hours each day, eventually ramping up to all-day strikes.

Prices for gas in Europe saw a sharp rise just after the market opened due to these strikes. Even though there’s a lot of stored gas in Europe right now, this situation could change if the strikes continue. Before these strikes began, Chevron and the unions tried to find common ground for five days, but didn’t succeed. The union felt that Chevron was asking for too much.

Experts say that while the strikes will increase costs for Chevron, they won’t drastically reduce the amount of gas produced. Yet, if the strikes get more intense, the situation might change.

Chevron mentioned that they’ve tried their best to make fair offers to end this standoff. They expressed disappointment that the unions want terms that are higher than what the market usually offers. Despite this, Chevron aims to find a solution that’s fair for everyone.

Edge2020 thinks that these strikes won’t heavily affect Australia’s gas supply. They believe it’s unlikely that Chevron will shut down both plants entirely because it could lead to major energy problems in Western Australia, and the government would likely step in.

This is a summary article from Edge2020 – read the original article.

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