Metlen Energy signs LNG supply deal to boost diversification in Europe

Metlen Energy & Metals PLC on Monday announced that it entered into a sale and purchase agreement for a long-term supply of liquefied natural gas to Greece.

The Athens-based aluminium producer and electricity generator said its subsidiary Petco Trading UK Ltd, alias PTUK, will deliver six LNG cargoes per year from Petronas's Atlantic portfolio, amounting to around 600 million cubic metres per year over a period of five years.

Metlen said: "The agreement strengthens Metlen's Energy Sector Utility strategy to diversify its LNG supply sources, enhancing flexibility and resilience in procurement, while contributing to security of supply in Greece and the wider southeast European region. At the same time, it reinforces Greece's position as a strategic regional energy hub."

The deliveries are set to start in 2027.

Panayotis Kanellopoulos, chief executive director at International Energy Supply & Trading at Metlen, said: "This agreement with Petronas represents an important step in strengthening Metlen's strategy to diversify its LNG sourcing. 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."

Metlen Energy shares were 1.7% lower at EUR46.78 each on Monday morning in London.

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