Trillion Energy International Inc. is providing an update on its SASB natural gas project located in the Southwestern Black Sea in Turkiye’s territorial waters, in light of the recent invasion of the Ukraine and halt of the Nord Stream pipeline. We do not expect to incur any adverse impact from the conflict currently and plan to proceed with our development on schedule.
Europe imports about 40% of its Natural Gas from Russia. On February 22, 2022, Germany announced it halted certification of the Russian Nord Stream II natural gas pipeline to Europe. The Nord Stream 2 was expected to be a key conduit for natural gas to Europe from Russia. Turkiye also imports about 50% of its natural gas from Russia. We believe the Russian actions against Ukraine manifest a significant natural gas supply risk to Europe and Turkiye. Our SASB gas field development plan will help mitigate natural gas supply risk to our region.
As well, numerous sources have predicted further increases in oil & natural gas prices because of renewed uncertainty of supply coming from Russia given its invasion of Ukraine.
Our CEO Art Halleran plans to visit Turkey and Romania during March 2022 to address the planned work program with our relevant partners and suppliers to ensure the project moves along swiftly.
US Trading Symbol Update
The Company is expected to recommence trading today on the OTCQB under the symbol TCFFF in the USA markets.
