Metlen and Petronas agree five-year LNG supply deal for Greece from 2027
Petronas subsidiary PETCO Trading (UK) Limited will supply Metlen with six LNG cargoes annually from 2027. The five-year agreement covers about 0.6 billion cubic metres a year and supports Greece’s role in Southeast European gas markets.
Six annual cargoes from the Atlantic portfolio
Metlen and Petronas have signed a five-year agreement for the long-term supply of liquefied natural gas to Greece, establishing a new contracted flow into the country from 2027. The sale and purchase agreement was concluded through Petronas subsidiary PETCO Trading (UK) Limited, known as PTUK.
Under the contract, PTUK will deliver six LNG cargoes each year from Petronas’ Atlantic portfolio. The total annual quantity will be approximately 0.6 billion cubic metres of gas, according to ProtoThema, which published details of the companies’ announcement. Across the full five-year term, the scheduled volume would therefore amount to about 3 billion cubic metres if annual deliveries proceed at the stated level.
Supply diversification for Greece and the region
The agreement expands the supply options available to Metlen’s Energy Utility business and gives the company a defined annual LNG programme rather than reliance solely on individual purchases. Metlen said the arrangement would improve flexibility and reliability across its supply portfolio while supporting its customers and the wider regional market.
The companies presented the contract as a contribution to energy security in Greece and Southeast Europe. Metlen has an established presence across the gas value chain and said its integrated energy activities support market liquidity and efficient energy supply. The cargo programme could consequently serve more than one commercial purpose: supplying Greek demand while strengthening the volumes available to Metlen’s regional trading operation.
Petronas builds its position west of Suez
For Petronas, the deal extends the reach of its global LNG portfolio into markets west of the Suez Canal, with particular emphasis on Europe and the Mediterranean. PTUK will act as the supplying entity, giving the Malaysian group a five-year relationship with an established participant in Greece’s gas and power market. Petronas said its portfolio, trading capabilities and customer relationships allow it to offer reliable and flexible LNG supply.
Metlen executive Panagiotis Kanellopoulos said the agreement advances the company’s strategy of diversifying LNG sources and increases supply flexibility and reliability. Petronas executive Datuk Adif Zulkifli said the group intends to respond to customers’ changing requirements while they balance security of supply, affordability and the energy transition. Neither company disclosed pricing, cargo size, delivery terminals or destination restrictions. Those commercial terms will determine how readily Metlen can redirect volumes between domestic customers and regional opportunities. What is already fixed is the duration, the annual cargo count and the approximate volume: five years, six cargoes and 0.6 billion cubic metres per year from 2027.