MOSCOW, September 8. /TASS/. The price of gas in Europe climbed by 8.4% as Friday trading opened following reports of the start of strikes at Chevron LNG plants in Australia, according to data on London’s ICE exchange.

The price of October futures at the TTF hub in the Netherlands rose to $394 per 1,000 cubic meters, or to 35.5 euro per MWh (on the basis of the current euro exchange rate against the dollar, prices at ICE are in euro per MWh).

The Offshore Alliance, a team-up of the Australian Workers Union and Maritime Union of Australia that unites employees from Australia’s gas producing and gas processing sectors, said earlier that strike action would start on Friday, September 8, at 8:00 a.m. Moscow time at Chevron’s two LNG plants after mediation talks between unions and the energy major on payment and labor conditions broke down without a deal.

According to Australian Financial Review, Chevron’s Wheatstone and Gorgon LNG plants produce around 24.5 mln tons of LNG per year, which is over 5% of global capacities. Complete shutdown of those plans for two weeks may lead to a sharp growth of gas prices, the publication said, adding that amid declining supplies of Russian natural gas to Europe many countries count on Australian LNG in particular.