THE EVOLUTION AND THE PERSPECTIVES OF THE OFFSHORE PROJECT “EX-30 TRIDENT” IN THE BLACK SEA
THE EVOLUTION AND THE PERSPECTIVES OF THE OFFSHORE PROJECT “EX-30 TRIDENT” IN THE BLACK SEA

Summary/Abstract: Considering the significant potential of offshore natural gas reserves in the Black Sea, which could become commercial exploitations in the coming years, the discussion on the growing development of offshore activities has turned into a key regional strategic issue. This factor is mostly motivated by its indisputable impact on Southeast Europe’s economy and energy security, but it is also influenced by the complexity of developments within the European energy market. In this regard, the Lukoil company, the concessionaire of the Trident offshore perimeter in the Black Sea, with estimated reserves of 30 billion m3, in 2023 received approval from the Romanian National Agency for Mineral Resources, regarding the continuation of the deposit exploration program until 2026. However, Lukoil has not commercially validated its natural gas reserves of the Trident perimeter in the Black Sea, and against the background of military developments in Ukraine and sanctions against Russia, which have directly affected Lukoil’s activity in EU member countries, the state of affairs remains uncertain. Moreover, in 2020, Lukoil put up its 87.8% stake in the Trident offshore project for sale. Based on these developments, the need to understand and research the perspectives of the Trident offshore project in the Black Sea is emerging. In addition, understanding and designing strategies for well-defined energy projects contributes to resilience in the face of crises, ensuring a balanced transition to sustainable and secure energy security.

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