Shell and METLEN sign landmark agreement to collaborate in LNG supply and trading
A Memorandum of Understanding (MoU) for the supply and trading of Liquefied Natural Gas (LNG) was signed in Washington by Shell and METLEN.
According to the MoU, the two companies will supply and trade quantities of approximately 0.5 to 1.0 bcm per year for the five-year period 2027-2031, with delivery to the Greek reception and gasification facilities in Revithoussa and Alexandroupolis. The use of the Vertical Gas Corridor is also envisaged for access to other European markets, in addition to those of Southeastern Europe.
“Shell, as the largest buyer of LNG from the US, is in a strong position to support the growing natural gas supply needs through its global portfolio, advanced transportation capabilities and extensive market expertise.
METLEN further emerges as a major natural gas player in the region, enhancing market liquidity, while contributing to the energy security of the region and the emergence of Greece as a regional energy hub, the announcement emphasized.
Evangelos Mytilineos, Executive Chairman of METLEN, stated: “The MoU with Shell is an important step in strengthening METLEN’s role in the European natural gas markets. Our cooperation confirms our shared commitment to strengthening Europe’s energy resilience, while supporting Greece’s development into a key energy hub in the region.”
As METLEN noted:
The MoU reflects the will of the two parties for joint development in a number of European countries, in line with the initiative of the Vertical Natural Gas Corridor. The agreement was signed in Washington by Panayotis Kanellopoulos, Chief Executive Director International Energy Supply & Trading of METLEN and by Tom Summers, Executive Vice President Shell LNG, while the presence of Stavros Papastavros, Minister of Environment & Energy of Greece, Chris Wright, US Secretary of Energy, Doug Burgum, Chairman of the National Dominance Energy Council and Secretary of the Interior, Kimberly Guilfoyle, US Ambassador to Greece and Colette Hirstius, President of Shell USA, Inc. highlighted the great importance of this cooperation.
