Equinor executives warn Europe’s gas storage levels at 35-37% may fall short of winter targets amid prolonged shipping delays.
Europe’s natural gas reserves could face a critical shortfall if disruptions in the Strait of Hormuz continue for another one to three months. Current storage levels stand at 35-37%, well below the 50% seasonal norm, raising concerns about meeting the 90% winter target.
The continent entered the summer refill season with depleted reserves, at just 28% capacity after an extended winter. Analysts note that persistent delays in LNG shipments through the Hormuz chokepoint could exacerbate the shortfall, increasing reliance on alternative supply routes.
Markets have yet to react significantly, but prolonged disruptions may pressure gas prices and energy security policies across the region.