European Gas Storage Can’t Survive 3 More Months of Hormuz

Europe could face a critical shortfall in natural gas stocks if shipping disruptions through the Strait of Hormuz persist for another 1-3 months, senior executives at Norwegian energy giant, Equinor ASA (NYSE:EQNR), have warned.

Europe entered the current summer refill season with severely depleted gas reserves, with gas stores only 28% full following a prolonged winter.

Europe’s storage levels are currently at 35-37%, significantly below the 50% seasonal norm, increasing the risk that the continent will miss its usual 90% target at the beginning…