Europe’s Natural Gas Prices Soar On Looming LNG Strike In Australia

Europe’s benchmark natural gas prices surged on Tuesday mid-day in Amsterdam as the market is closely watching whether LNG exporters in Australia will manage to avert a workers’ strike that could cripple 10% of global LNG supply. The front-month futures at the Dutch TTF hub, the benchmark for Europe’s gas trading, had jumped by 8.7% to $48.28 (44.35 euros) per megawatt (MWh) as of 12:07 p.m. GMT on Tuesday, as workers and LNG facility owners in Australia continue to discuss a possible resolution to the dispute about pay and work…