Chevron begins mediation talks to avert Australia LNG strike
Mediation talks to avert strikes at US energy major Chevron's two major liquefied natural gas (LNG) facilities in Australia began on Monday after workers rejected the company's offer on wages and working conditions last week.
)
Mediation talks to avert strikes at US energy major Chevron's two major liquefied natural gas (LNG) facilities in Australia began on Monday after workers rejected the company's offer on wages and working conditions last week.
A senior member of the Fair Work Commission (FWC), Australia's industrial umpire, will host the talks from 9 a.m.(0100 GMT) in the Western Australia state capital of Perth through this week, a schedule of hearings showed.
Reuters first reported on Friday that Chevron had filed a request for mediation with the FWC. The company bypassed unions and put its offer directly to workers, who overwhelmingly rejected.
A union alliance has said industrial action will begin on Thursday at Chevron's Gorgon and Wheatstone projects, which account for more than 5 per cent of global LNG production capacity, if parties cannot find a resolution.
Employees plan work stoppages of up to 11 hours in two blocks and will stop performing certain tasks until at least Sept. 14, the Offshore Alliance union said. The union group has said the stoppages could cost Chevron "billions of dollars".
Any industrial action would disrupt Australia's LNG exports and increase competition for the super-chilled fuel, forcing Asian buyers to outbid European buyers to attract LNG cargo. China and Japan are the top two lifters of Australian LNG, followed by South Korea and Taiwan.
Gorgon, Australia's second-largest LNG plant, has an export capacity of 15.6 million tonnes a year and Wheatstone 8.9 million.
Australia is the world's biggest LNG exporter and the ongoing dispute has stoked volatility in natural gas markets with players nervous about the risk of long-term disruption.
A similar dispute between the union alliance and Woodside-operated (WDS.AX) North West Shelf LNG facility, Australia's biggest, was resolved last month after workers approved a deal.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES

LIC Saral Pension Plan: How to get Rs 64,000 annual pension on Rs 10 lakh one-time investment in this annuity scheme that everyone is talking about

Gratuity Calculation: What will be your gratuity on Rs 45,000 last-drawn basic salary for 6 years & 9 months of service?

Rs 1,500 Monthly SIP for 20 Years vs Rs 15,000 Monthly SIP for 5 Years: Know which one can give you higher returns in long term

LIC Saral Pension Plan: How much should you invest one time to get Rs 64,000 annual pension for life?

Income Tax Calculations: What will be your tax liability if your salary is Rs 8.25 lakh, Rs 14.50 lakh, Rs 20.75 lakh, or Rs 26.10 lakh? See calculations

8th Pay Commission Pension Calculations: Can basic pension be more than Rs 2.75 lakh in new Pay Commission? See how it may be possible

SBI Revamped Gold Deposit Scheme: Do you keep your gold in bank locker? You can also earn interest on it through this SBI scheme

Monthly Pension Calculations: Is your basic pension Rs 26,000, Rs 38,000, or Rs 47,000? Know what can be your total pension as per latest DR rates
08:23 AM IST