METLEN and Shell Sign Five-Year Deal to Supply 6 LNG Cargoes a Year Starting in 2027
Key Facts
METLEN and Shell Global LNG Limited have signed a binding long-term liquefied natural gas supply agreement, moving the companies’ cooperation from an earlier memorandum of understanding to a supply contract with defined terms. According to METLEN’s announcement, Shell will supply six cargoes a year, equivalent to about 0.6 billion cubic meters annually. The agreement runs for five years, with deliveries starting in 2027. The contract sets a clear annual volume and delivery schedule, while allowing the gas to be directed to Greece or other European markets. METLEN said the deal strengthens its supply portfolio and supports the diversification of its energy sources.
The cargoes will come mainly from Shell’s U.S. LNG portfolio, according to the announcement, with Greece and other European gas markets among their destinations. These destinations give METLEN flexibility to direct supplies across a geographic area extending beyond the Greek market, under the terms of the announced agreement. Panagiotis Kanellopoulos of METLEN said the contract "strengthens our supply portfolio and gives us greater flexibility to serve Greece and other European markets." The company linked the agreement to its strategy of diversifying energy sources and strengthening its role in Europe’s changing energy landscape. The volume of 0.6 billion cubic meters a year is the amount specified in the new contract, while the earlier memorandum of understanding covered a broader supply and trading range.
The binding agreement follows a memorandum of understanding signed by the two companies in February 2026, which set a framework for broader cooperation in gas supply and trading. The memorandum estimated volumes at about 0.5 to 1.0 billion cubic meters a year from 2027 to 2031, with deliveries to Greece’s two regasification facilities, Revithoussa and Alexandroupolis. The newly announced contract, by contrast, specifies six cargoes a year, equivalent to about 0.6 billion cubic meters annually, for five years starting in 2027. The annual volume set in the contract therefore falls within the range covered by the memorandum of understanding, while fixing the number of cargoes and the term. The announced destinations for the new contract continue to include Greece and other European gas markets.
Tom Summers of Shell said, "LNG plays a vital role in providing flexible and reliable energy to people and businesses in Greece and other European countries." He added that the companies would explore opportunities to expand their cooperation, according to METLEN’s announcement. The statement puts supply flexibility and reliability at the center of Shell’s rationale for the cooperation, alongside METLEN’s focus on diversifying its sources and serving multiple markets flexibly. Deliveries under the agreement will begin in 2027, and its term is five years. The announcement did not set a further date to discuss cooperation opportunities or provide details on cargo deliveries during that period.