Recent data from Gas Infrastructure Europe shows the continent is facing its lowest gas reserve levels, raising concerns about replenishing inventories for the winter.

The European Union has two crucial periods for gas supply each year: March, when winter ends and summer begins, and October, when winter begins again. According to the GIE, gas reserves are currently at 61 %, “the lowest level for this time of year in recent years, even lower than that recorded in 2021.”

Gas prices rose in August. And the region is facing a slower-than-necessary filling rate. “The recent pace gives an idea of ​​the challenge. Between early and mid-August, storage capacity increased by an average of 0.27 percentage points per day. If this rate continues, storage levels will reach around 73 % by October 1st. Europe would have to continue injecting gas throughout the autumn to keep rebuilding reserves, coinciding with the gradual increase in demand associated with heating.”

To overcome this predicament, a high rate of injection would be necessary, in addition to ensuring sufficient gas volumes, particularly liquefied natural gas (LNG), which entails a high cost that is passed on to the consumer.

Regarding the European regulatory framework for this sector, it “maintains a 90% filling target.” However, since the “reform of the Gas Storage Regulation, in force since September 2025, this level can be reached at any time between October 1st and December 1st.” A deviation of up to 10 percentage points is permitted when filling conditions are difficult, extendable by an additional five points by the European Commission if these conditions persist. The regulation will be in force until the end of 2027.

In any case, the reserve level for October will be the benchmark for the markets. If storage falls below the levels of recent years, the margin for absorbing a cold winter, lower renewable energy production, or renewed pressure on gas imports is reduced. Furthermore, it contributes to greater volatility in both gas and electricity market prices.

M.Pino

Source: elperiodicodelaenergia

(Reference image source: Sylvain Miklaszewski on Unsplash)

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The telecommunications multinational Telefónica expects to make its first investments from Vivo Ventures in the coming months, a fund created by the company in Brazil of 320 million reais, equivalent to 60.4 million euros, with the purpose of investing in consumer-oriented startups and complement their offer in the South American country.

The investment fund will have a duration of five years and will focus on sectors such as health, education, finance, home, digitization, entertainment and marketplaces.

Telefónica’s headquarters in Brazil already has a Wayra open innovation hub in Sao Paulo and has made small investments in the country such as the edtech Qranio, the fintech Monkey Exchange and the digital health firm Proradis.

The company, during its presentation of results for the second quarter, explained that the management of the fund has selected some 20 companies in which it would like to undertake an investment.

Diversifying offers

Telefónica is searching for startups in Brazil simultaneously with the diversification of its offer with new booming businesses such as consumer loans and digital education. The first of these, Vivo Money, is a digital loan service that, since October 2020, has granted more than 80 million reais in financing, about 15 million euros.

On the other hand, the company is planning for the end of 2022 the “launch of VivaE, a digital education joint venture with Ánima Educaçao. Both companies have already selected the management team and aspire to complete their base product MVP, for its acronym in English, in the coming months.

M. Rodríguez

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Source: negocios.com

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