Shell (LSE:SHEL) and METLEN Energy & Metals (LSE:MTLN) have signed a binding long-term liquefied natural gas (LNG) supply agreement.
Under the agreement, Shell will supply METLEN with six LNG cargoes per year, amounting to 600 million cubic metres per year. The agreement covers a five-year period, starting from 2027.
The LNG cargoes will be delivered to METLEN, primarily sourced from Shell’s US liquified natural gas portfolio, for supply to Greece or other European gas markets.
METLEN says the agreement progresses the development of the cooperation between the two companies. It combines Shell’s global LNG portfolio, shipping capabilities, and trading expertise with METLEN’s established presence in Southeast Europe.
It also reinforces METLEN’s strategy to strengthen its position through long-term supply arrangements, portfolio diversification, and enhanced commercial flexibility.
METLEN Chief Executive Director International Energy Supply & Trading Panayotis Kanellopoulos says this is a further step in the company’s strategy to diversify energy sourcing and strengthen METLEN’s role in Europe’s evolving energy landscape.
Shell Executive Vice President for Marketing and Trading Tom Summers adds that LNG plays a key role in providing flexible and reliable energy for people and businesses across Greece and other European countries.
“We are pleased to sign this agreement with METLEN to help supply their customers across the region and we look forward to exploring opportunities to further our collaboration in the future,” Summers says.
METLEN Energy & Metals is an international industrial and energy company holding a position in the metals and energy sectors, focused on sustainable growth and the circular economy.
Write to Aaliyah Rogan at Mining.com.au
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