October futures on the TTF index — Europe's largest hub — opened at $393.6 per 1,000 cubic meters (+8.6%). As of 06:10 GMT, they were trading at $389.4 (+7.4%).
On Thursday, Chevron told Sputnik that strikes will begin on September 8 at 05:00 GMT. British media, in turn, reported, citing a company representatives, that negotiations between Chevron and Australian LNG unions ended without agreement, adding that strikes will start as scheduled.
The strike is occurring at the Chevron-operated Gorgon and Wheatstone liquefied natural gas facilities, which contributed roughly 7% to global LNG supplies last year.
The Offshore Alliance, the union behind the industrial action, alleges that Chevron would ultimately agree to raise wages – but only after suffering billions of dollars in revenue losses.