Historic Collaboration Between Shell and METLEN in LNG Supply and Trading

On February 24, 2026, in a move that signifies a pivotal moment in the European energy landscape, Shell and METLEN solidified their partnership by signing a Memorandum of Understanding (MoU) aimed at enhancing the supply and marketing of Liquefied Natural Gas (LNG). This agreement follows years of collaboration and reflects a shared vision between two major players in the energy sector.

Partnership Overview

Shell, recognized as one of the world's largest producers and distributors of LNG, along with METLEN, a dominant force in the Southeast European natural gas market, are both listed on the London Stock Exchange and featured in the FTSE 100 index. The MoU establishes a robust framework for cooperation, allowing both companies to jointly supply and market approximately 0.5 to 1 billion cubic meters (bcm) of LNG annually, notably from 2027 to 2031. Key delivery points include Greece's LNG regasification terminals located in Revithoussa and Alexandroupolis.

Additionally, this agreement gives both companies access to the Vertical Gas Corridor, significantly expanding their reach to other European markets beyond Southeast Europe, a critical step toward a more integrated European gas market.

Shell’s Strategic Positioning

As the largest LNG buyer in the United States, Shell is strategically positioned to meet the growing demand for natural gas in Europe. The company's extensive global portfolio, coupled with advanced maritime transportation capabilities and comprehensive market expertise, allows it to efficiently manage supply chain challenges in the gas industry. This partnership aims not only to satisfy market demands but also to lay the foundation for future scalability and innovation in gas supply.

METLEN’s Market Role

For METLEN, this partnership amplifies its status as a key player in the region's natural gas market. Evangelos Mytilineos, CEO of METLEN, emphasized that this agreement marks a significant step toward strengthening METLEN’s role in European gas markets. The cooperation reinforces their commitment to enhancing Europe's energy resilience and supports Greece's evolution into a pivotal energy hub within the region.

The strategic importance of this partnership was underscored during the signing event in Washington, D.C., attended by notable officials including Greece's Minister of Environment and Energy, Stavros N. Papastavrou, and various U.S. energy sector leaders. This high-level engagement highlights the mutual benefits arising from the collaboration.

Future Developments

The MoU also signals both companies' intent to drive joint development efforts across several European nations. This aligns with the initiatives of the Vertical Gas Corridor, which seeks not only to improve supply routes but also to diversify sources and contributors to the European energy landscape. As Europe continues to grapple with energy challenges, partnerships such as these are critical for ensuring both supply stability and transitioning towards more sustainable energy practices.

About Shell and METLEN

Shell continues to lead in the global energy market by prioritizing sustainable practices while meeting energy demands, whereas METLEN stands as an industrial leader across metallurgical and energy sectors. With over 9,000 employees active in more than 40 countries, METLEN focuses on sustainable growth and cylindrical economy. Financially, in 2024, METLEN recorded consolidated revenues of €5.68 billion with an EBITDA of €1.08 billion, reflecting a robust financial position poised for growth.

As both companies embark on this new chapter, their collaboration is expected to not only transform their market outlook but also to enhance energy security throughout Europe, making this MoU a landmark agreement in the ongoing evolution of the energy sector.