Norway’s government steps in to end oil and gas strike, averting a new energy shock for Europe The content originally appeared on: CNN London (CNN Business)Norway has intervened to end a strike by oil and gas workers, the country’s government said in a statement late Tuesday, citing concerns about Europe’s energy crisis amid Russia’s war in Ukraine. Natural gas prices spiked after Norwegian oil and gas workers went on strike over a pay dispute Tuesday, shutting three fields in the North Sea and threatening to escalate action over the course of the week. Norway is Europe’s second-largest energy supplier after Russia and the strike had pushed gas prices to their highest level in four months. The Norwegian government has proposed a compulsory wage arbitration to settle the dispute, the statement said. “We normally exercise significant restraint before intervening with compulsory wage arbitration,” Labor Minister Marte Mj?s Persen said after he summoned oil companies and workers to a meeting late Tuesday. “However, the serious consequences of the announced escalations have forced my hand in intervening.” Read More The Norwegian oil and gas employers’ lobby had said the strikes could have halted almost 60% of Norwegian gas exports to Europe from July 9.