Cyclone Shuts Down Australian Gas Plants, Tightens Global Energy Supply

0:00It's March 27. This is Sydney News Today, AI-powered stories from your city. I'm Cory with the story. A powerful cyclone off Western Australia's coast has shut down major gas export plants, tightening global energy supplies already hit hard by the Middle East War. Chevron halted all production at its wheatstone platform, more than 200 kilometers offshore, and closed one unit at its huge Gorgon plant on. Barrow Island, meanwhile, woodside pulled workers from its northwest shelf platforms, disrupting output at the Karatha plant. These sites together provide up to 8% of the world's liquefied natural gas, and Asia is turning to Australia as the top alternative. Supplier after blockages in the strait of Hormuz and strikes on Qatar's facilities. Prices for spot cargos have more than doubled since late February, with analysts now forecasting even higher rates through the year due to repair. Delays a damaged plant's overseas. Companies prioritize safety and plan to restart operations as soon as conditions allow,

1:03while officials watch for any spillover to local energy costs, in a market better protected than before.