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Norway intervenes to end workers' strike, averts energy shock for Europe

Politiko 2022-07-06 08:33:14

Norway intervenes to end workers' strike, averts energy shock for Europe

Norway has intervened to end a strike by oil and gas workers, the country's government said in a statement, citing concerns about Europe's energy crisis amid Russia's war in Ukraine.

Natural gas prices rose after Norwegian oil and gas workers went on strike over a pay dispute, threatening to escalate action later in the week.

Norway is Europe's second-biggest supplier of energy after Russia, and the strike had pushed gas prices to their highest level in four months.

The Norwegian oil and gas employers' lobby had said strikes could have halted almost 60% of Norwegian gas exports to Europe from July 9.

Europe is trying to reduce its dependence on Russian exports, which are already being restricted by Moscow. Any sustained drop in Norway's production could deal a major blow to efforts to replenish gas reserves ahead of winter, as well as raise the risk of a catastrophic power shortage.

The Norwegian government has proposed a mandatory wage arbitration to resolve the dispute, the statement said.

Source: CNN

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