METLEN Energy Signs Long-Term LNG Supply Deal with PETRONAS

METLEN Energy & Metals Plc has entered into a long-term supply agreement with PETRONAS, a leading global energy company, to secure liquefied natural gas (LNG) for Greece. Under the agreement, PETRONAS' subsidiary, PETCO Trading (UK) Limited (PTUK), will supply 6 LNG cargoes annually, equivalent to approximately 0.6 billion cubic meters per annum (bcma), over a period of five years starting in 2027.

This strategic partnership aims to diversify METLEN's LNG sourcing, enhancing the company's flexibility and resilience in procurement. The agreement is part of METLEN's broader strategy to strengthen its position as a key player in the energy sector, particularly in Southeast Europe. METLEN's Chief Executive Director International Energy Supply & Trading, Panayotis Kanellopoulos, stated, "This agreement with PETRONAS represents an important step in strengthening METLEN's strategy to diversify its LNG sourcing. By expanding our international synergies, we further enhance the flexibility and reliability of supply, supporting both our customers and the broader regional market, as well as Greece's energy hub credentials."

For PETRONAS, the agreement underscores its commitment to delivering reliable and flexible LNG solutions to support its customers' evolving energy needs. Datuk Adif Zulkifli, Executive Vice President and CEO of Gas & Maritime Business at PETRONAS, commented, "This agreement with METLEN underscores PETRONAS' commitment to delivering reliable and flexible LNG solutions that support our customers' evolving energy needs. As markets continue to navigate energy security, affordability, and transition priorities, PETRONAS remains focused on creating value through our global LNG portfolio, trading capabilities, and trusted partnerships. We are pleased to support METLEN's supply diversification strategy and contribute to strengthening energy resilience in Greece and the wider Southeast European region."

The agreement is expected to contribute to greater LNG supply diversification and energy resilience, supporting the evolving energy needs of Greece and the broader Southeast European region. METLEN, with its established presence across the gas value chain and integrated energy activities, is well-positioned to support market liquidity and the efficient supply of energy. PETRONAS, through its global LNG portfolio and solution-focused capabilities, aims to expand its LNG presence in the West of Suez markets, particularly in Europe and the Mediterranean region.

This strategic partnership marks a significant step toward strengthening the relationship between METLEN and PETRONAS, laying the foundation for new opportunities for collaboration. Both companies are committed to supporting the energy security and diversification goals of Southeast Europe, contributing to the region's evolving energy landscape.