@shm-0861 Thank you for your question.
Given a shared image that was created in region "X" (source region) and replicated to region "Y" (target region), image availability in not affected by an outage in another region. Obviously this applies only if the replication copy operation has already completed.
The Shared Image Gallery is a free service which operates as a coordination layer above your Azure Storage account. The billing impact of using the service is limited to the storage costs and data transfer fees associated with your replicated images. If you are concerned about image availability, ensure you use zone-redundant storage for your images.
Typically there are no SLAs for free services on Azure (there would be no billing impact in the event of unavailability exceeding the downtime allowance).
Hope it helps.
Please 'Accept as answer' if it helped, so that it can help others in the community looking for help on similar topics