METLEN and Shell Global LNG have signed a binding five-year supply agreement covering six LNG cargoes a year from 2027, equivalent to approximately 0.6 billion cubic metres annually.
Announced on 2 November, the deal advances the memorandum signed in February into a contracted supply arrangement. METLEN says cargoes will come primarily from Shell’s US portfolio and can serve Greece or other European gas markets.
The companies connect the arrangement with regional access through the Vertical Gas Corridor. METLEN presents it as a way to diversify its sources and increase commercial flexibility, while Shell brings its international cargo, shipping and trading capabilities.
For the regional gas market, the material change is a multi-year volume commitment beginning next year. The announcement does not disclose pricing or establish a new liquefaction plant, import-terminal construction contract or dedicated shipping order.
Source: Company announcement.
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Image credit: Illustrative LNG infrastructure file photograph: Revithoussa terminal and LNG Endeavour viewed from Pachi, Greece, 19 September 2022. This does not show a cargo under the new Shell–METLEN agreement. Schuppi / Wikimedia Commons, CC BY-SA 4.0. Resized; same licence retained. Source photograph; licence.
