#USA #Washington, D.C. #LNG #METLEN #Shell

Shell and METLEN Sign Landmark Agreement

On February 24, 2026, a significant milestone was reached in the energy markets when Shell and METLEN formalized their partnership through a Memorandum of Understanding (MoU). This groundbreaking agreement establishes a comprehensive framework for the cooperation between the two energy giants in the supply and trading of Liquefied Natural Gas (LNG).

Shell, known worldwide as one of the largest producers and traders of LNG, entered into this partnership with METLEN, a leading player in the Southeast European natural gas sector. Both companies are prominently listed on the London Stock Exchange and are constituents of the FTSE 100 Index, underscoring their heavyweight status in the market.

Under the terms of the MoU, Shell and METLEN will collaborate to supply and trade between 0.5 to 1.0 billion cubic meters (bcm) of LNG annually during the five-year period from 2027 to 2031. The deliveries are set to be made to the LNG regasification facilities located in Revithoussa and Alexandroupolis, Greece, enhancing the nation’s capacity to serve the growing energy needs of Europe.

Moreover, the agreement outlines the utilization of the Vertical Gas Corridor. This strategic initiative aims to enhance access to additional European gas markets, extending beyond Southeast Europe. Shell's reputation as the largest purchaser of LNG from the United States positions the company favorably to support the increasing demand for natural gas, thanks to its global network, advanced shipping capabilities, and extensive market insights.

Evangelos Mytilineos, Executive Chairman of METLEN, expressed optimism regarding the partnership, stating, "This MoU with Shell marks an important step in strengthening METLEN's role in the European natural gas markets. Our cooperation confirms our shared commitment to enhancing Europe's energy resilience, while supporting Greece's evolution into a key energy hub in the region."

The MoU further exemplifies both parties’ intentions to pursue joint development across various European countries, aligning with the goals of the Vertical Gas Corridor initiative. The ceremonial signing took place in Washington, D.C., in the presence of esteemed figures including Greece’s Minister of Environment and Energy, Stavros N. Papastavrou, and Chris Wright, the U.S. Secretary of Energy. The gathering highlighted the strategic importance of this international collaboration amid the backdrop of ongoing uncertainties in the global energy landscape.

About METLEN

METLEN Energy Metals Plc operates as an international industrial and energy conglomerate with a significant presence in both the metallurgy and energy sectors. The organization champions sustainable growth and circular economic practices, leading in competitive 'green' metallurgy at a European and global level. Notably, METLEN runs the only fully integrated bauxite, alumina, and primary aluminium production facility in the European Union, coupled with its own port facilities.

In the energy domain, METLEN is recognized for providing holistic solutions that encompass thermal and renewable power generation projects, as well as investments in network infrastructure, battery storage, and various green technologies. The company has a footprint across five continents, employing over 9,000 people and sustaining a synergistic model throughout its operations.

In terms of financials, METLEN reported consolidated revenue of €5.68 billion in 2024, accompanied by an EBITDA of €1.08 billion, reflecting a year-on-year growth of 7%. The company's engagement with sustainability is validated through its positioning in various indexes, including the Dow Jones Best-in-Class Emerging Market index and noted by leading ESG agencies.

This alliance forms a pivotal moment not just for Shell and METLEN but also for Europe's energy security, as it represents a united front in addressing the continent's energy demands in a rapidly evolving market. As the dynamics of energy sourcing and trading continue to change, collaborations of this magnitude may pave the way for a more resilient and sustainable energy future.