Μake us preferred on Google Metlen Energy & Metals has signed a five-year liquefied natural gas supply agreement with Malaysia’s Petronas, adding a new source of gas to its portfolio as European energy companies continue to place a premium on security and diversification of supply.
Under the sale and purchase agreement, Petronas subsidiary Petco Trading (UK) Ltd. will deliver six LNG cargoes a year to Greece from 2027. The volumes will total about 0.6 billion cubic meters annually and will be sourced from Petronas’ Atlantic LNG portfolio.
The deal gives Metlen a stable, long-term source of gas that can be used to meet its own energy requirements and supply customers in Greece and the wider region. It also forms part of the company’s effort to diversify its LNG sourcing and increase flexibility in procurement, at a time when energy security remains a central concern across Europe.
Expanding LNG supply options
Metlen said the agreement would strengthen its ability to source gas from a wider range of suppliers while supporting security of supply in Greece and Southeast Europe. The company operates across the gas value chain through its broader energy business, giving it a role not only as an industrial consumer but also in energy supply and trading.
Panayotis Kanellopoulos, Metlen’s chief executive director for international energy supply and trading, described the agreement as an important step in the company’s LNG 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 agreement also fits with efforts to position Greece as a regional gateway for gas flows into Southeast Europe, with Metlen arguing that additional LNG supply can support both market liquidity and resilience.
Petronas pushes further into Europe
For Petronas, the deal expands the Malaysian group’s presence in LNG markets west of the Suez Canal, particularly Europe and the Mediterranean. The state-owned energy group is a major global LNG supplier, with products sold in about 100 countries. In the first half of 2026, it supplied 20.29 million metric tons of LNG and completed 282 cargo deliveries to international markets, according to the company.
Datuk Adif Zulkifli, Petronas’ executive vice president and chief executive of its gas and maritime business, said the agreement reflected the company’s focus on providing flexible LNG supply as customers balance energy security, affordability and the transition to lower-carbon energy systems. “We are pleased to support Metlen’s supply diversification strategy and contribute to strengthening energy resilience in Greece and the wider Southeast European region,” he said.
The companies said the agreement could also provide a basis for further cooperation, as both seek to expand their roles in a European gas market increasingly shaped by diversified LNG supply and changing regional trade flows.
