Metlen Energy and Metals and Shell said on Monday they have signed a binding long term liquefied natural gas supply agreement, building on the memorandum of understanding the two companies signed in February 2026.
Under the agreement, Shell Global LNG will supply Metlen with six LNG cargoes per year, amounting to around 600 million cubic metres per year, over five years starting in 2027. The cargoes will be delivered to Metlen, primarily sourced from Shell’s United States LNG portfolio, for supply to Greece or other European gas markets. Neither company disclosed financial terms.
The February framework envisaged the two companies supplying and trading 500 million to 1 billion cubic metres of LNG per year from 2027 to 2031, with deliveries to the Greek regasification facilities at Revithoussa and Alexandroupolis and use of the Vertical Gas Corridor to reach markets beyond southeast Europe. Monday’s binding agreement sits at the lower half of that volume range and converts the framework into contracted supply.
Metlen shares were up about 0.5 percent in London on Monday morning after the announcement. The deal adds a contracted United States supply line for Greece just as Europe enters winter with storage near 75 percent full, the lowest seasonal level since 2011, as covered in this site’s November 1 European gas reporting.