Shell and METLEN sign MoU for LNG supply cooperation

Shell and METLEN person formalised a memorandum of knowing (MoU) successful the US superior of Washington, DC to cooperate connected the proviso and trading of liquefied earthy state (LNG).

The MoU covers associated activities for the yearly proviso and trading of betwixt 500 cardinal and 1 cardinal cubic metres (bcm) of LNG during the play 2027–31.

Deliveries are scheduled for Greece’s LNG regasification facilities astatine Revithoussa and Alexandroupolis. Additional plans see utilising the Vertical Gas Corridor to entree further European markets beyond south-east Europe.

The Revithoussa terminal is situated connected an islet westbound of Athens and presently represents the lone Greek installation for receiving impermanent storage, regasification and onward proviso of LNG to the nationalist transmission system.

The Alexandroupolis floating retention and regasification portion (FSRU) became operational successful 2024. It has a regasification capableness of up to 5.5bcm per year.

METLEN enforcement president Evangelos Mytilineos said: “This MoU with Shell marks an important measurement successful strengthening METLEN’s relation successful the European earthy state markets. Our practice confirms our shared committedness to enhancing Europe’s vigor resilience, portion supporting Greece’s improvement into a cardinal vigor hub successful the region.”

Representatives signing the MoU included METLEN planetary vigor proviso and trading main enforcement manager Panagiotis Kanellopoulos and Shell LNG enforcement vice-president Tom Summers.

The lawsuit took spot successful the beingness of Greece's Minister of Environment and Energy Stavros, N Papastavrou; US Secretary of Energy Chris Wright; US Secretary of the Interior and National Energy Dominance Council president Doug Burgum; US Ambassador to Greece Kimberly Guilfoyle; and Shell US president Colette Hirstius.

The MoU sets retired a model for collaboration successful enactment with the Vertical Gas Corridor initiative.

The Vertical Gas Corridor is designed to summation connectivity betwixt Greece and countries specified arsenic Bulgaria, Hungary, Moldova, Romania, Slovakia and Ukraine utilizing existing infrastructure, including the recently operational Alexandroupolis FSRU and the Trans-Balkan Pipeline.

This corridor offers an alternate way for state proviso into Europe and connects to important underground retention successful Ukraine.

Shell continues to beryllium a large purchaser of US LNG with important shipping capableness and a ample marketplace portfolio.

According to Shell’s LNG outlook released successful precocious 2025, planetary request for the commodity could emergence by astir 60% by 2040. The request volition beryllium driven by factors including economical maturation successful Asia and efforts to trim emissions successful dense manufacture and transport, alongside impacts from AI.