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According to a statement by MET on Wednesday, the MoU provides a framework for the trader’s potential LNG purchase, sourced primarily from Shell’s US LNG portfolio, for delivery to various European regasification facilities.
MET said the cooperation with Shell aims to enhance the security of gas supply in Europe.
The agreement further advances MET’s strategy to diversify supply sources while reinforcing its “strong and steadily expanding customer portfolio across more than 20 European countries,” it said.
In July 2024, MET entered into a 10-year deal to buy US LNG volumes from Shell and supply its European customers.
In recent years, MET has built what it says is one of the most geographically diverse LNG import structures in Europe, with long-term regasification capacity bookings in Germany, Croatia, and Spain.
The company has imported LNG cargoes to several countries across the Mediterranean (Greece, Italy, Croatia, Spain), Northwest Europe (UK, Belgium, the Netherlands, Germany), and the Nordic region (Finland).
In addition to supply, MET ordered its first LNG carrier, for delivery in 2027, after reaching a partnership agreement with Danish shipowner Celsius in 2024.