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Asian LNG Buyers Seek Flexibility Amid Potential Strikes

LNG

Asian LNG importers are asking suppliers to not designate a specific port of departure for future purchases and contracted deliveries amid fears of potential strikes at three Australian LNG facilities according to traders.

  • Buyers are seeking more flexibility because if the port is specified, the supplier can declare force majeure and cancel the shipment if the union decide to start industrial action at the specified facilities.
  • Some buyers in Japan and China are also delaying purchases until there is more clarity on industrial action, the traders said.
  • Current LNG shipments sold out of Australia are trading at a discount to market rates amid higher risks, the traders added.
  • Woodside Energy and Chevron said on Thursday there were no updates on wage disputes at their LNG facilities as the unions involved in talks filed a safety complaint against Woodside.
  • New discussions between the union officials and Woodside are scheduled for 23 August. Chevron will meet the unions on 24 August.
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