Oil and Gas
Oil and Gas
SECTOR | 03 Sep 2023
ICICI Securities Limited
News reports indicate that workers at Chevron’s Wheatstone and Gorgon LNG plants are set to go on limited strike from 7th Sep’23, potentially impacting exports of 24.5mt (~88mmscmd) of combined capacities at the two terminals. This represents ~5% of global LNG liquefaction capacity (link here). We note that this action, if it escalates to a full-scale suspension of work can create material tightness in global LNG markets.
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