Shell and METLEN signed a Memorandum of Understanding (MoU) on 24th February 2026, setting out a structured framework for cooperation in the supply and trading of Liquefied Natural Gas (LNG). The agreement establishes the basis for a long-term LNG supply and trade agreement between the two groups, formalising their intention to deepen collaboration in European gas markets. Shell, one of the world’s largest LNG producers and traders, and METLEN, which holds a leading position in the natural gas market of Southeast Europe, are both listed on the London Stock Exchange and on the FTSE 100 Index.
Panagiotis Kanellopoulos, Chief Executive Director, International Energy Supply & Trading at METLEN, and Tom Summers, Executive Vice President, Shell LNG signed the agreement in Washington, D.C.
The MoU outlines plans for the companies to supply and trade approximately 0.5 to 1.0 billion cubic meters per year during the five-year period 2027–2031. Deliveries under the LNG supply and trade agreement framework will be directed to the Greek LNG regasification facilities in Revithoussa and Alexandroupolis. In addition, the arrangement proposes utilisation of the Vertical Gas Corridor, creating access to further European markets beyond Southeast Europe. Through this LNG supply and trade agreement, both companies aim to expand regional connectivity and strengthen cross-border flows of natural gas.
Shell, as the largest purchaser of LNG from the United States, brings a global portfolio, advanced shipping capabilities, and extensive market expertise to the cooperation. With such backing, METLEN is reinforcing its standing as a key natural gas participant in the region. This deal is integral for Europe’s evolving energy requirements and supports broader efforts to strengthen regional energy resilience.
The MoU highlights both parties’ goal to achieve cooperative development across several European nations under the Vertical Gas Corridor project. It is anticipated that the LNG supply and trade deal will increase market liquidity, fortify energy security in the region, and firmly establish Greece as a key regional energy hub.
