European natural gas prices rose 11 percent on Friday compared to the start of the week. The TTF futures contract for delivery in one month was up 4ß.41 euros per megawatt hour (MWH) on the Amsterdam Stock Exchange this morning. Reason: Workers at a liquefied natural gas (LNG) plant in Australia are preparing to brawl. Meanwhile, the price has increased by around 18 per cent.
No agreement could be reached in the wage negotiations at the LNG plant in Australia on Wednesday. After this, industrial action will start on 2 September. A supply disruption in Australia would affect 10% of global LNG exports. This scenario also keeps European traders in suspense.
