Overview
- Unions and Inpex announced an in‑principle agreement that paused all industrial action at the Ichthys LNG facility and allowed regular operations to begin resuming.
- The deal, reported on Wednesday, includes about 3.75% annual pay rises plus measures on job security and career progression and must be ratified in a formal union vote.
- The Fair Work Commission rejected Inpex’s earlier bid to suspend the strikes, finding the action did not amount to significant economic disruption.
- Work stoppages had already delayed some LNG loadings and empty carriers were reported near Darwin, so some cargoes will need rescheduling despite the restart.
- Global market risk remains because Qatar’s output is only returning gradually after damage at Ras Laffan, which keeps Asian buyers sensitive to any further Australian disruptions.