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Gas, this is how the strike in Norway causes the price to explode

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Gas, this is how the strike in Norway causes the price to explode

A strike by workers in the oil and gas sector threatens to cut gas exports from Norway by almost 60 percent: the Norwegian Oil and Gas Association business group reports, stating that it has already been forced to close three fields and that , if the strike continues, Norway’s gas exports are expected to be cut by more than half by Saturday and by more than 340,000 barrels of crude oil. The impact of the mobilization has already had a severe impact on the price of gas, which hit record prices on Tuesday.

The wage clash

“Almost 60% of gas exports from the Norwegian continental shelf will be affected by the strike action if it is further intensified,” the group says.

The strike by the operators of Norwegian oil and gas platforms in the North Sea could also have consequences for the supply of other European countries. The salary negotiations failed, according to international media, initially 74 employees and technicians crossed their arms, explained the president of the union Audun Ingvartsen to the German press.

As of tomorrow, another 117 workers have threatened to stop production at three other sites, which risk closure. The trade unions – Ingvartsen reported – hoped for a quick start to negotiations. Now they say that in the absence of negotiations, another 191 employees from three major platforms could go on strike as of 9 July.

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The impact on oil and gas production

According to the employers’ organization Norsk olje og gass, if the strike is extended, 13% of Norway’s total gas production could be affected. “The strike will result in an oil production loss of 130,000 barrels per day and a gas production loss of 292,000 barrels of oil equivalent per day,” the organization said.

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