The ascent initiated by strike concerns in European gas prices continues. The benchmark contract for Europe, the Netherlands, saw a surge of 18 percent to 42.90 euros per megawatt-hour for next month's gas prices.
The possibility of strikes among workers at the Australian LNG facilities, driven by demands for better working conditions and wages, along with the concerns of potential supply disruptions, has been a pivotal factor in the upward trajectory of prices.
One of the two companies operating the LNG facilities affected by the strike, Woodside Energy Group, announced that their employees will go on strike on September 2nd if no agreement is reached by Wednesday.
Possible supply disruptions in Australia are estimated to impact around 10 percent of global LNG exports.
