Good morning, it’s Ben here in foggy Canberra. Here’s what’s making news this morning.
Today’s must-reads:
• Gas price slumps amid strike talks
• RBA deputy governor speculation
• Wagner chief in plane crash
LNG strike talks in Western Australia ended without a resolution last night, Woodside confirmed this morning, though no strike notice has been lodged so far. The lack of outcome saw European gas prices slump by 14% overnight. Unions had pledged to trigger an option to give the required seven working days’ notice to start industrial action if yesterday’s talks failed to deliver a breakthrough.
Meanwhile, gas infrastructure operator APA Group agreed to buy Alinta Energy’s power networks in Western Australia’s Pilbara region, in a A$1.72 billion deal set to shake up energy-generation assets in the nation’s mining heartland. APA will raise A$675 million of equity to fund the purchase.