Shell and METLEN sign agreement for co-operation in LNG supply and trading
Shell and METLEN have signed a memorandum of understanding (MoU), establishing a framework for co-operation in the supply and trading of LNG.
Under the MoU, the two companies will supply and trade approximately 0.5 – 1 billion m3/y over the five-year period 2027 – 2031, with deliveries to the Greek LNG regasification facilities in Revithoussa and Alexandroupolis. The agreement also envisages the use of the Vertical Gas Corridor, enabling access to additional European markets beyond Southeast Europe.
Shell, as the largest purchaser of LNG from the US, is well positioned to support growing natural gas supply needs through its global portfolio, advanced shipping capabilities, and extensive market expertise.
With this support, METLEN is further strengthening its position as a key natural gas player in the region, enhancing market liquidity while contributing to regional energy security and reinforcing Greece’s role as a strategic regional energy hub.
Evangelos Mytilineos, Executive Chairman of METLEN, stated: “This MoU with Shell marks an important step in strengthening METLEN’s role in the European natural gas markets. Our co-operation confirms our shared commitment to enhancing Europe’s energy resilience, while supporting Greece’s evolution into a key energy hub in the region.”
The MoU reflects the intention of both parties to pursue joint development across a number of European countries, in alignment with the Vertical Gas Corridor initiative. The agreement was signed in Washington, D.C., by Panagiotis Kanellopoulos, Chief Executive Director, International Energy Supply & Trading at METLEN, and Tom Summers, Executive Vice President, Shell LNG, in the presence of Stavros N. Papastavrou, Minister of Environment and Energy of Greece; Chris Wright, United States Secretary of Energy; Doug Burgum, U.S. Secretary of the Interior and Chairman of the National Energy Dominance Council; Kimberly Guilfoyle, United States Ambassador to Greece; and Colette Hirstius, President, Shell USA, Inc.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/25022026/shell-and-metlen-sign-agreement-for-co-operation-in-lng-supply-and-trading/
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