Metlen Shares Steady After LNG Supply Deal With Petronas

Metlen Energy & Metals Trust (LON: MTLN) shares showed little reaction on the London market on Monday morning following news that the Greek energy and metals group has signed a long-term liquefied natural gas (LNG) supply agreement with Malaysia’s Petronas.

The stock traded around 47.6p, roughly in line with its previous close, with the price moving in a narrow range between 47.28p and 47.74p during the session.

The muted response suggests investors view the deal as a strategically sound but incremental development rather than a step change for the business.

Under the agreement, announced jointly on 14 September, Petronas subsidiary PETCO Trading (UK) Limited will supply six LNG cargoes annually to Greece, equivalent to around 0.6 billion cubic metres per year, over a five-year period starting in 2027.

The tie-up forms part of Metlen’s strategy to diversify its LNG sourcing and strengthen supply security across Greece and Southeast Europe.

Metlen’s Chief Executive Director for International Energy Supply & Trading, Panayotis Kanellopoulos, said the agreement enhances flexibility and reliability of supply while reinforcing Greece’s credentials as a regional energy hub. Petronas executives echoed that sentiment, framing the deal as part of its broader push into European and Mediterranean LNG markets.

While the announcement carries long-term strategic significance for Metlen’s energy trading arm, the limited immediate share price movement indicates the market had largely priced in continued supply diversification efforts, with investors likely awaiting further detail on commercial terms and contribution to earnings before reassessing valuation.