Storage

Energy Storage Levels — EU Gas Storage, US SPR & Global LNG

Strategic energy storage — gas, crude oil, LNG and SPR facilities worldwide

~36%

−19pp below 5-yr May norm · LOW band (≥35%) per GEF seasonal framework. Bruegel May 13 — below 2022 level. Mandatory target RELAXED 90%→80% for 2026 winter (ACER).

384.1 Mbbl

−8.6 Mbbl wk ending May 8 — largest single-week draw of this cycle. DOE May 11 awarded additional 53.3 Mbbl release; total US IEA contribution 172 Mbbl.

2,142 Bcf

+153 Bcf above 5yr avg (+7.7%) · only major storage surplus globally.

Critical fill (<30%)

Watch (30–60%)

Normal (>60%)

Key Facilities

Ras Laffan LNG · Qatar

~5% operational · missile strike Mar 18–19

EU Gas Storage Network

~36% fill · −19pp below 5yr avg

Kuwait Gulf Tank Farms

~90% full · Hormuz exit blocked

US Strategic Petroleum Reserve

384.1 Mbbl · -8.6 mbbl single-week draw · 172 mbbl total IEA contribution

US Natural Gas Storage

2,142 Bcf · +153 Bcf above 5yr avg

Why It Matters

EU gas storage at 36% on May 13 (Bruegel) — below the level recorded in 2022 (the previous crisis benchmark). LNG imports from the Middle East have dropped to the lowest levels since 2019. The EU has formally RELAXED its mandatory storage target from 90% to 80% for the 2026 winter season under Commission flex provisions (ACER); even hitting the relaxed 80% target requires an injection pace materially above the current ~2,088 GWh/day average. Trajectory still misses 80% by ~10-13 percentage points at current pace.

EU gas storage · 1 Nov 2025 → 1 Nov 2026 · GIE AGSI+ aggregated

Current fill (May 16)

36%

−19pp vs 5-yr May norm

5-yr May norm

55%

2020–2024 avg

Nov 1 target (relaxed 2026)

80%

Current pace → ~67% by Nov 1

Nov 1, 2025 Feb 1 May 16 Aug 1 Nov 1, 2026