VALLETTA (MALTA) (ITALPRESS/MNA) – Malta has secured a new liquefied natural gas (LNG) supply agreement with BP that will guarantee fuel for the Delimara power station until the end of May 2027, Prime Minister Robert Abela announced.
Abela described the agreement as a competitive and reliable deal that ensures continued energy security after the expiry of Malta’s current LNG contract in August. He did not disclose the price agreed.
The new agreement, signed by the national energy provider – Enemalta, follows a competitive process involving seven international bidders and was selected on the basis of value and security of supply.
Abela said negotiations would continue in parallel to secure a longer-term supply arrangement and thanked Energy Minister Miriam Dalli for her work on the deal.
The existing 10-year LNG supply agreement with SOCAR Trading, which expires on 13 August, had become a key political issue amid concerns that Malta could face uncertainty over future gas supplies.
Global gas prices have risen significantly this year, complicating efforts to secure favourable long-term contracts. However, recent declines in European gas prices following easing tensions in the Middle East have improved market conditions.
Enemalta said the new agreement links pricing to the Title Transfer Facility (TTF), Europe’s main natural gas benchmark, and is designed to allow Malta to benefit from expected improvements in market stability. The company added that preparations are already under way to secure gas supplies beyond May 2027.
– photo Enemalta –
(ITALPRESS).
