Shell's Prelude LNG resumes shipments after two-week stoppage

Sundry Photography/iStock Editorial via Getty Images

Shell (NYSE:SHEL) said Friday it loaded and shipped a cargo of liquefied natural gas at its Prelude floating LNG facility off Australia's northwest coast this week after workers scaled down industrial action.

Shell (SHEL) cut production at the 3.6M metric tons/year facility last week during a series of work stoppages by unions seeking better pay.

Results from a three-day vote on a new labor agreement offer from the company are due on Monday.

The two-week disruption at Prelude FLNG comes as Europe scrambles to secure LNG cargoes to make up for lost Russian gas supply, and three months after Prelude resumed shipping LNG after a four-month shutdown due to a major power failure.

Comments

[Blue Blood]

As if the world needed another blow, when VP threatens to escalate his war, pandemic surges and cost of fuel soars. These workers are fortunate to have lucrative jjobs in a world-class company while millions lose livelihoods and depend on food banks to survive. In some petrostates, children beg on streets, homeless citizens sleep in the doorways of city banks and armed gangs roam with impunity.

[auto44]

Go on strike when they need you the most. Just an observation.

[Diderick]

@auto44 ... when they have a competitive advantage : Porter's disciples !