The Offshore Alliance canceled planned industrial action at the Ichthys LNG facility after progress in pay and conditions talks with operator Inpex.
A potential strike at Australia’s Ichthys LNG facility has been called off after the Offshore Alliance union reported progress in negotiations with operator Inpex. The union had previously warned of imminent industrial action, raising concerns over disruptions to LNG exports, particularly to Japan, Australia’s largest customer for the fuel.
The Ichthys facility is one of Australia’s largest LNG projects, and any disruption could have impacted global supply chains. Earlier this month, the union notified Inpex of possible strike action, prompting market concerns over supply stability. Negotiations focused on pay and working conditions.
The resolution eases supply risks for energy markets, particularly in Asia, where Australia is a key LNG supplier. No immediate market reaction was reported, but the news reduces short-term volatility in natural gas prices.