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METLEN and PETRONAS Strengthen Energy Security in Southeast Europe

In a significant development for the energy sector, METLEN and PETRONAS have forged a strategic partnership by signing a Sale and Purchase Agreement (SPA) for the long-term supply of Liquefied Natural Gas (LNG) to Greece. This collaboration is orchestrated through PETRONAS' subsidiary, PETCO Trading (UK) Limited, marking a pivotal moment in enhancing energy security and diversification in Southeast Europe.

Key Details of the Agreement

Starting in 2027, PETCO will deliver six LNG cargoes each year from PETRONAS' Atlantic portfolio, totaling approximately 0.6 billion cubic meters per annum over the span of five years. This agreement is set to position Greece as a pivotal energy hub in the region, boosting its strategic importance in the European energy landscape.

A Step Toward Energy Diversification

The partnership is a testament to METLEN's commitment to reinforcing its energy sector utility strategy. By diversifying its LNG supply sources, METLEN aims to enhance procurement flexibility and resilience, ensuring a secure energy supply for Greece and neighboring regions.

METLEN's Chief Executive Director of International Energy Supply Trading, Panayotis Kanellopoulos, emphasized the importance of this agreement, stating, "This collaboration with PETRONAS is a crucial step towards diversifying our LNG sourcing. It enables us to strengthen international synergies with a leading global LNG player, thereby enhancing supply reliability for our customers and the broader market."

PETRONAS' Commitment to Energy Solutions

For PETRONAS, this agreement reinforces its dedication to delivering reliable LNG solutions tailored to evolving energy demands. As energy security, affordability, and transition needs become increasingly pressing, PETRONAS is focused on creating value through its extensive global LNG portfolio and sustainable operational practices.

Datuk Adif Zulkifli, PETRONAS' Executive Vice President and CEO of Gas & Maritime Business, remarked, "This SPA highlights our efforts in providing flexible LNG solutions that align with our customers’ needs. Supporting METLEN’s supply diversification strategy further emphasizes our role in strengthening energy resilience across the Southeast European region."

Implications for the Regional Energy Landscape

As a result of this agreement, METLEN and PETRONAS are not only advancing their respective business goals but also significantly contributing to the regional energy landscape. This partnership is poised to facilitate greater LNG supply diversification and energy resilience, which are essential in navigating the challenges posed by evolving global energy markets.

About METLEN

Founded on principles of sustainable growth, METLEN Energy Metals Plc is a versatile industrial and energy company with a steadfast presence in the metals and energy sectors. The company is heralded for its achievements in green metallurgy and integrated energy solutions, including both thermal and renewable power generation projects. Operating in over 40 countries and employing more than 8,500 staff, METLEN maintains a robust model for sustainability and efficiency, further enhancing its competitive edge in the energy market.

About PETRONAS

PETRONAS stands as a progressive global energy player dedicated to enriching lives for a sustainable future. With operations in over 100 countries, it effectively manages a diverse portfolio ranging from conventional energy solutions to cleaner options like LNG, ensuring sustainable practices in all its processes.

The METLEN and PETRONAS partnership sets a promising precedent in the energy sector, highlighting a commitment to collaborative efforts that bolster energy security and enhance regional resilience. As both companies aim for innovation and operational excellence, this agreement is an emblem of strategic foresight in the evolving energy landscape.