In a significant advancement for the energy sector, Shell and METLEN signed a Memorandum of Understanding (MoU) in Washington, marking a new collaboration in the supply and trading of liquefied natural gas (LNG). This agreement outlines the provision of approximately 0.5 to 1.0 billion cubic meters (bcm) of LNG annually over a five-year period from 2027 to 2031. The LNG will be delivered to key Greek facilities in Revithoussa and Alexandroupolis, allowing for an increase in supply to meet the region's energy demands.

The MoU also emphasizes the use of the Vertical Gas Corridor, enabling access not only to Southeastern European markets but also to broader European markets, thereby enhancing the strategic importance of Greece in energy distribution. Shell’s position as the largest buyer of LNG from the United States places it in a prime position to support the increasing demand for natural gas with its comprehensive market expertise and logistical capabilities. This partnership is crucial for bolstering energy security in Greece and its surrounding regions.

As METLEN emerges as a key player in the natural gas landscape, the collaboration is expected to increase market liquidity and solidify Greece's role as a regional energy hub. This development aligns with European initiatives to diversify energy sources and reduce dependence on single suppliers, ensuring a more resilient energy infrastructure for the continent moving forward.