Canadian oil and gas player, Trillion Energy, has recently entered into a significant three-year non-disclosure agreement with a leading global energy trading company to jointly explore strategic energy opportunities in Bulgaria and Türkiye. The collaboration stems from a shared understanding that the search for new natural gas supply sources in the European region is of paramount importance.

Under this agreement, Trillion Energy and the trading company will confidentially exchange information regarding potential new business opportunities that they can pursue together. Notably, the global energy trading company achieved an impressive revenue of over $100 billion in 2022, adding substantial value to the partnership.

Trillion Energy's ongoing drilling campaign in the Black Sea, which utilizes long-reach directional drilling technology, and its Vranino 1-11 natural gas exploration block, boasting significant gas resources, played a pivotal role in securing this agreement. Consequently, the two companies will focus on advancing the Vranino 1-11 CBM natural gas exploration project in Bulgaria.

Trillion Energy's Vranino 1-11 lease spans a vast area of 98,205 acres (397 km2), with third-party natural gas resource report estimates revealing an undiscovered OGIP (best estimate) of 1.15 Tcf and unrisked gross 2P (prospective natural gas resource) of 573 Bcf.

Furthermore, the ongoing implementation of the interconnector Greece-Bulgaria (IGB) and the expansion of infrastructure in Türkiye and Bulgaria, enabling the shipment of LNG gas to Türkiye and its transportation via pipelines to Bulgaria, presents alternative sources of natural gas.

The expansion of infrastructure in Türkiye, Bulgaria, Romania, Hungary, and Slovakia will provide Europe with additional access to natural gas through pipeline conduits, which aligns with the global energy trading company's expertise in "buying, distributing, and selling energy."

This collaborative effort between Trillion Energy and the global energy trading company signifies a promising step towards exploring and harnessing the natural gas potential in Türkiye and Bulgaria, contributing to the region's energy security and diversification of supply sources.