METLEN and PETRONAS sign five‑year LNG supply agreement for Greece
- PTUK will deliver six LNG cargoes per year from PETRONAS’ Atlantic portfolio.
- Volume equals approximately 0.6 billion cubic metres per annum over a five‑year term.
- Supply starts in 2027 and runs for five years.
- Deal aims to diversify METLEN’s LNG sourcing and bolster Greece’s role as a regional energy hub.
Deal terms
METLEN and PETRONAS, via PETCO Trading (UK) Limited (PTUK), entered a Sale and Purchase Agreement for long‑term LNG supply to Greece. PTUK will deliver six LNG cargoes per year from PETRONAS’ Atlantic portfolio, totaling about 0.6 billion cubic metres per annum, over a five‑year period commencing in 2027.
Strategic rationale
The SPA is intended to diversify METLEN’s LNG supply sources, enhance procurement flexibility and resilience, and contribute to security of supply in Greece and the wider Southeast European region. METLEN positions the agreement within its Energy Sector Utility strategy to support market liquidity and efficient energy supply.
Seller perspective
PETRONAS says the SPA leverages its global LNG portfolio and trading capabilities to expand its presence in West of Suez markets, notably Europe and the Mediterranean, and to strengthen customer relationships in key growth markets.
Executive comments and significance
METLEN’s Panayotis Kanellopoulos described the deal as strengthening sourcing diversification and supply reliability for customers and the regional market. PETRONAS’ Datuk Adif Zulkifli framed the agreement as supporting energy security, affordability and transition priorities. Both companies said the partnership lays a foundation for further collaboration and aims to reinforce Greece’s strategic energy‑hub credentials.
Source: Petronas