PETALING JAYA: Petroliam Nasional Bhd (PETRONAS), through its subsidiary PETCO Trading (UK) Ltd (PTUK), has entered into a five-year sale and purchase agreement with Greece-based METLEN for the supply of liquefied natural gas (LNG) to Greece.
Under the agreement, PTUK will deliver six LNG cargoes a year from PETRONAS’ Atlantic portfolio, amounting to about 0.6 billion cubic metres per annum (bcma), for five years starting in 2027.
PETRONAS said the agreement would support METLEN’s strategy of diversifying its LNG supply sources, while enhancing flexibility and resilience in procurement.
It added that the deal would contribute to security of supply in Greece and the wider Southeast European region, while reinforcing Greece’s position as a strategic regional energy hub.
For PETRONAS, the agreement reflects its strategy of expanding its LNG presence across West of Suez markets, particularly Europe and the Mediterranean, through its global LNG portfolio and trading capabilities.
PETRONAS executive vice-president and CEO of Gas & Maritime Business Datuk Adif Zulkifli said the agreement underscored the group’s commitment to providing reliable and flexible LNG solutions.
“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,” he said.
Meanwhile, METLEN chief executive director, International Energy Supply & Trading, Panayotis Kanellopoulos said the agreement was an important step in strengthening the company’s LNG sourcing diversification strategy.
“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,” he said.
The partnership also lays the foundation for further collaboration between PETRONAS and METLEN, the companies said.
