Woodside Continues Talks With Unions Ahead of Crucial Wednesday Meeting

Woodside Energy on Tuesday continued talks with workers and unions ahead of the crucial meeting on Wednesday which decides whether workers at the North West Shelf offshore gas platforms will start industrial action as early as 2 September according to the firm.

• “We have some substantive agreements on a number of items”, Woodside CEO Meg O’Neill said.
• "It takes two to tango. We are proceeding with goodwill and with respect, and we are very focused on really understanding the key areas of concern, " O’Neill said.
• Workers at Woodside Energy’s North West Shelf platform have endorsed to begin industrial action if the dispute over an enterprise bargaining agreement is not resolved by Wednesday, meaning workers could start industrial action as early as 2 September.
• Industrial action at Chevron’s and Woodside’s facilities in Australia would significantly tighten global LNG supplies.
• “However, if the labor strike is not decided or if production is not disrupted, the market would be so significantly oversupplied with gas and LNG that prices would have to fall ahead of November,” Citigroup analysts wrote in a note.