METLEN and PETRONAS, through its subsidiary PETCO Trading (UK) Limited ('PTUK'), have entered into a Sale and Purchase Agreement (SPA) for a long-term supply of Liquefied Natural Gas (LNG) to Greece.
Under the SPA, PTUK will deliver 6 LNG cargoes per year from PETRONAS' Atlantic portfolio, amounting to approximately 0.6 billion cubic meters per annum (bcma) over a period of five years commencing in 2027.
The agreement strengthens METLEN’s Energy Sector Utility strategy to diversify its LNG supply sources, enhancing flexibility and resilience in procurement, while contributing to security of supply in Greece and the wider Southeast European region. At the same time, it reinforces Greece’s position as a strategic regional energy hub.
Through its integrated energy activities and established presence across the gas value chain, METLEN continues to support market liquidity and the efficient supply of energy, reinforcing its role in the evolving European energy landscape.
For PETRONAS, the SPA reflects its commitment to deliver LNG supply by leveraging its global LNG portfolio and solution-focused capabilities. Through PTUK, PETRONAS continues to expand its LNG presence across the West of Suez markets, particularly in Europe and the Mediterranean region, while strengthening customer relationships in key growth markets.
This strategic partnership between PETRONAS and METLEN marks a significant step toward strengthening the relationship between the two companies and lays the foundation for new opportunities for collaboration.
METLEN’s Chief Executive Director International Energy Supply & Trading, Panayotis Kanellopoulos, said: 'This agreement with PETRONAS represents an important step in strengthening METLEN’s strategy to diversify its LNG sourcing. By expanding our international synergies, as with this leading global LNG player, we further enhance flexibility and reliability of supply, supporting both our customers and the broader regional market, as well as Greece’s energy hub credentials.'
PETRONAS Executive Vice President and Chief Executive Officer of Gas & Maritime Business, Datuk Adif Zulkifli said, '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.'
Together, METLEN and PETRONAS aim to support greater LNG supply diversification and energy resilience, while contributing to the evolving energy needs of Greece and the wider Southeast European region.
From left: Rosdi Ab Rahman, Chief Executive Officer, PETRONAS LNG Ltd.; Nik Mohsain Harjuda Nik Ahmad, Chief Executive Officer, PETCO Trading (UK) Limited (PTUK); Ezran Mahadzir, Vice President, LNG Marketing and Trading, PETRONAS; Datuk Adif Zulkifli, Executive Vice President & Chief Executive Officer, Gas & Maritime Business, PETRONAS; Tan Sri Tengku Muhammad Taufik, President and Group CEO PETRONAS; Panayotis Kanellopoulos, Chief Executive Director, International Energy Supply & Trading, METLEN; Constantinos Babladimos, LNG Trading Director, METLEN; Ioannis Polities, Senior LNG Trader, METLEN; Athina Askianaki, Legal Counsel, METLEN
Source: PETRONAS
