Greece’s Metlen and energy major Shell signed a memorandum of understanding (MoU), on LNG, during the Transatlantic Gas Security Summit held Tuesday, Feb. 24, in Washington.
The business-to-business agreement establishes a framework for cooperation in the supply and trading of LNG.
What the Shell–Metlen MoU Includes
Under the MoU, the two companies plan to supply and trade approximately 0.5 to 1 billion cubic meters (bcm) of LNG annually over a five-year period from 2027 to 2031. The agreement is expected to involve about 10 cargoes per year.
Deliveries will be made to Greece’s LNG reception and regasification facilities in Revithoussa, an islet west of Athens, and in Alexandroupoli, a strategic port city in northeastern Greece near the borders with Turkey and Bulgaria.
The agreement also foresees the use of the Vertical Gas Corridor, a regional initiative designed to facilitate natural gas flows from Greece northward into other European markets beyond Southeast Europe.
Major LNG Players in Europe
Shell is one of the world’s largest LNG producers and traders and currently the largest buyer of U.S. LNG. With its global portfolio, transport capabilities and long-standing market expertise, the company is positioned to support rising gas supply needs.
Metlen holds a dominant position in the natural gas market in Southeast Europe. With Shell’s support, the Greek company is expected to further strengthen its regional footprint, enhance market liquidity and contribute to Europe’s broader energy resilience.
Both Shell and Metlen are listed on the London Stock Exchange and are included in the FTSE 100 index.
Greece’s Energy Hub Ambitions
The MoU reflects the two companies’ intention to pursue joint development in several European countries, aligned with the Vertical Gas Corridor initiative.
Evangelos Mytilineos, executive chairman of Metlen, said the agreement marks an important step in expanding the company’s role in European gas markets.
“Our cooperation confirms our shared commitment to strengthening Europe’s energy resilience while supporting Greece’s evolution into a key regional energy hub,” he said.
The agreement was signed in Washington by Panayotis Kanellopoulos, chief executive director of international energy supply and trading at Metlen, and Tom Summers, executive vice president of Shell LNG.
The signing ceremony was attended by Greece’s Minister of Environment and Energy Stavros Papastavrou; U.S. Energy Secretary Chris Wright; Doug Burgum, chair of the National Energy Dominance Council and U.S. secretary of the interior; U.S. Ambassador to Greece Kimberly Guilfoyle; and Colette Hirstius, president of Shell USA Inc., highlighting the geopolitical weight of the partnership.
Source: ot.gr
