MET Group and Shell sign MOU for US LNG supply to Europe

LONDON, Feb 25 - Switzerland-based energy trader MET Group said on Wednesday it has signed a memorandum of understanding (MoU) with Shell SHEL.L for the potential purchase of around 0.5 million tonnes per annum (mtpa) of liquefied natural gas (LNG) between 2027 and 2033, sourced primarily from Shell’s U.S. LNG portfolio.

The companies also intend to explore cooperation in LNG and gas trading to facilitate access to European markets through the so-called Vertical Gas Corridor, including sales into various European regasification facilities, MET said in a statement.

Many players in the market see strong future demand from buyers across the Vertical Gas Corridor - a route to transport gas from Greece through central Europe and Ukraine - as Europe prepares to ban Russian gas imports by late 2027, intensifying competition for long‑term LNG supply.

MET has delivered LNG into 17 different markets in Europe, with Germany, Belgium, the Netherlands, Spain, the UK, Italy and Croatia among its most active markets. In Asia, it has delivered LNG to China, India, Japan and South Korea.

In 2024, the company entered into a 10-year LNG agreement with Shell to purchase U.S. LNG.