Chevron and unions close to agreement to end LNG strike, regulator says

Chevron Corp. and unions are close to a deal that would end strikes at liquefied natural gas plants in Australia that have shaken global markets, and the country’s labor regulator has put forward new proposals to resolve remaining disputes.

“The parties are on the verge of achieving historic first business agreements,” the Fair Work Commission said in a statement dated Thursday. “A large number of issues have been resolved. However, if all outstanding issues are not resolved, the agreed provisions will simply evaporate.”