METLEN is taking another major step toward strengthening its international presence in the energy sector by signing a binding long-term supply agreement for liquefied natural gas (LNG) with Shell Global LNG Limited. The agreement provides for the supply of six LNG cargoes per year, representing a total volume of approximately 0.6 billion cubic meters of natural gas annually over a five-year period, with deliveries scheduled to commence in 2027. This constitutes an agreement carrying a clear strategic dimension, as it reinforces METLEN's long-term supply portfolio, expands its energy supply sources, and offers heightened commercial flexibility across European natural gas markets.
Reinforcement of METLEN's supply portfolio
The agreement strengthens METLEN's long-term supply portfolio, expanding its energy supply sources while offering greater commercial flexibility across European markets. Concurrently, it broadens the collaboration between the two companies, combining Shell's global LNG portfolio, maritime transport capabilities, and commercial expertise with METLEN's established presence across Southeastern Europe. The capability to allocate cargoes both in Greece and across other European markets directly connects with the utilization of the Vertical Gas Corridor.
Panagiotis Kanellopoulos: Long-term collaboration and greater flexibility
Panagiotis Kanellopoulos, Chief Executive Director of International Energy Supply & Trading at METLEN, stated: "The agreement with Shell translates our shared ambition into a long-term collaboration in the supply domain. Combining Shell's global LNG capabilities with METLEN's established regional presence reinforces our supply portfolio and provides us with greater flexibility in serving Greece and other European markets. This represents another step within the framework of our strategy for diversifying energy supply sources and strengthening METLEN's role in Europe's continuously evolving energy landscape," driving energy supply diversification.
Tom Summers: Crucial role for LNG in Europe
Tom Summers, Executive Vice President for Shell LNG Marketing and Trading, stated: "LNG plays a crucial role in meeting the energy needs of citizens and businesses in Greece and other European countries with flexibility and reliability. We are particularly pleased to sign this agreement with METLEN, contributing to the supply of its customers across the wider region, and we look forward to exploring opportunities to further develop our collaboration in the future." The agreement further reinforces METLEN's role in regional and European natural gas markets, while simultaneously contributing to establishing Greece as an important regional energy hub, impacting Southeast Europe LNG.
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