The recent signing of the Memorandum of Understanding between Shell and METLEN in Washington represents a paradigm shift in Southeast European energy logistics. The agreement establishes a framework for the trade and supply of Liquefied Natural Gas (LNG), integrating the capacity of the world’s largest trader with the infrastructure of Greece’s leading firm. The organizations have agreed on volumes ranging between 0.5 and 1.0 bcm annually, ensuring a constant flow of hydrocarbons for the next five years.
Shell and METLEN’s participation in the oil market
Regarding the operational aspects of the agreement, supplies will be made between 2027 and 2031 through the Revithoussa and Alexandroupolis regasification terminals. Likewise, the use of the Vertical Gas Corridor will allow the resource to reach European markets beyond Greek borders, optimizing distribution in regions with high demand. Shell’s experience in the US market and its advanced transport fleet guarantee reliability that strengthens the energy security of the entire continent.
Furthermore, the importance of this commercial link was validated by the presence of high-ranking government representatives from the United States and Greece. Evangelos Mytilineos, Chairman of METLEN, has stated that this technical cooperation not only elevates his company’s position but also confirms Greece as a strategic energy hub. The synergy between these two entities, both listed on the London Stock Exchange, seeks to increase liquidity and resilience in supply networks against international fluctuations.
Finally, the commitment between both parties includes the development of joint projects in various territories of the European Union. The diversification of import routes and the efficient use of existing regasification plants are pillars of this strategy. This commercial alliance is emerging as a solid technical and economic solution to face the supply challenges projected for the region in the coming years.
Source and photo: METLEN