The Norweigan government settled oil and gas strikes on Tuesday amid concerns about Europe’s energy crisis.
Norwegian oil and gas workers went on strike before natural gas prices increased, closing three fields in the North Sea and threatening to escalate action over the week.
Norway’s government has proposed compulsory wage arbitration to resolve the dispute.
“Norway plays a vital role in supplying gas to Europe, and the planned escalation (of the strike) would have had serious consequences for Britain, Germany, and other nations. The volume impact would have been dramatic in light of the current European situation,” Labour Minister Marte Mjoes Persen said.
Audun Ingvartsen, Lederne union leader, said that the strike had ended.
“Workers are going back to work as soon as possible. We are canceling the planned escalation,” Ingvartsen said.
The Norwegian oil and gas employers’ lobby warned that the strikes could have suspended almost 60% of Norwegian gas exports to Europe starting on July 9.
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