Europe's Gas Stocks Could Deplete Within Three Months Amid Hormuz Strait Crisis

JAKARTA, KOMPAS.com — Europe faces a new energy crisis threat after liquefied natural gas (LNG) shipments through the Strait of Hormuz have been disrupted for months. Quoted from Reuters, Monday (25 May 2026), Norwegian energy company Equinor warned that Europe’s gas stocks could reach critical levels if the strategic shipping route remains blocked for one to three months. The Strait of Hormuz is one of the world’s most important energy corridors, accounting for about a fifth of global oil and gas trade. Reuters reports that Europe’s current gas storage levels are just above 35%, significantly below the seasonal average of nearly 50% for this period. This is also far from the European Union’s target of 90% storage capacity before winter. Equinor’s Senior Vice President for Gas and Power Market, Helle Ostergaard Kristiansen, said Europe still has a chance to improve the situation if the conflict ends soon. “If the conflict ends now, we might still reach around 75% storage capacity,” Kristiansen said. However, she added that if the disruption continues for one to three months, the situation could become critical for Europe. Europe’s gas storage has already been under pressure even before the conflict escalated. Data cited by GMK Center shows EU gas storage levels in early April 2026 were around 28%, lower than the past three years and approaching conditions before previous energy crises. On the other hand, gas storage replenishment is not proceeding optimally. Reuters reports that winter gas contracts are currently cheaper than summer ones, reducing economic incentives for energy companies to stockpile large amounts.