Analysts have warned that an escalating dispute at Major Gas Facilities in Australia could drive up European gas prices. Energy giant Chevron and unions representing workers at the Gorgon and Wheatstone projects in Western Australia are in talks over pay and job security. If a deal cannot be agreed, strikes are scheduled to begin on Thursday. Fears of a strike have already pushed up European gas prices, and analysts warn that a prolonged halt to production could squeeze global supplies and send prices higher. The global natural gas market is currently very tight with little supply flexibility.

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