An in-principle deal between gas giant Inpex and the union representing striking workers has been struck that will see operations at the company’s sites return to normal, with a formal vote to accept the deal scheduled soon.

Offshore Alliance – a joint body of the Australian Workers’ Union and the Maritime Union of Australia – announced that all industrial actions would cease by Wednesday evening, preventing critical storage capacity issues that threatened gas exports to Asia.

The agreement, which was reached Tuesday night, reportedly includes annual pay increases of 3.75 per cent, along with enhanced job security and career advancement opportunities, which were significant points of dispute between the parties.

Over 400 employees work at the Darwin Ichthys facility, where gas extracted from offshore locations off the coast of Western Australia, is processed and shipped from the port.

The agreement followed Inpex’s unsuccessful attempt to halt industrial action through the Fair Work Commission last weekend.

Inpex contended that the work stoppages, as part of industrial action, would severely harm the national economy and jeopardise trade relationships, but the FWC dismissed those arguments. While the commission acknowledged that the strikes and worker bans could potentially lead to a complete production halt, it concluded that such actions would not have a detrimental impact on Australia’s economy.

Multiple ships bound for Asia from Darwin were reportedly delayed by the ongoing industrial action.

“These negotiations [on a new contract] did become quite hostile,” Offshore Alliance spokesman Zach Duncalfe told the ABC.

“For us, there were some hostile actions from Inpex…early on in the negotiations and there were some frustrations in how they were progressing.

“I think both sides were frustrated and that bore out publicly.”

Inpex said in a statement that the company was focused on maintaining safe operations at Ichthys and ensuring reliable energy supply.