(WO) — PETRONAS has signed a five-year agreement to supply LNG to Greek energy company METLEN, expanding the Malaysian company’s presence in European and Mediterranean gas markets.
Under the sale and purchase agreement, PETRONAS subsidiary PETCO Trading (UK) Ltd. will deliver six LNG cargoes annually to Greece beginning in 2027. The volumes are equivalent to approximately 0.6 Bcm of natural gas per year.
The LNG will be sourced from PETRONAS’ Atlantic portfolio. The agreement is intended to diversify METLEN’s LNG supplies while supporting natural gas availability in Greece and the broader Southeast European market.
“This agreement with PETRONAS represents an important step in strengthening METLEN’s strategy to diversify its LNG sourcing,” said Panayotis Kanellopoulos, METLEN’s chief executive director of International Energy Supply & Trading.
For PETRONAS, the agreement builds on efforts to expand its LNG business in markets west of the Suez Canal, particularly Europe and the Mediterranean.
“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,” said Datuk Adif Zulkifli, PETRONAS executive vice president and CEO of Gas & Maritime Business.
The companies said the agreement could also provide a foundation for additional cooperation as METLEN expands its role in the regional natural gas market.
About The Author
