Shell and METLEN have formalised a memorandum of understanding (MoU) in the US capital of Washington, DC to cooperate on the supply and trading of liquefied natural gas (LNG).
The MoU covers joint activities for the annual supply and trading of between 500 million and one billion cubic metres (bcm) of LNG during the period 2027–31.
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Deliveries are scheduled for Greece’s LNG regasification facilities at Revithoussa and Alexandroupolis. Additional plans include utilising the Vertical Gas Corridor to access further European markets beyond south-east Europe.
The Revithoussa terminal is situated on an islet west of Athens and currently represents the only Greek facility for receiving temporary storage, regasification and onward supply of LNG to the national transmission system.
The Alexandroupolis floating storage and regasification unit (FSRU) became operational in 2024. It has a regasification capacity of up to 5.5bcm per year.
METLEN executive chairman Evangelos Mytilineos said: “This MoU with Shell marks an important step in strengthening METLEN’s role in the European natural gas markets. Our cooperation confirms our shared commitment to enhancing Europe’s energy resilience, while supporting Greece’s evolution into a key energy hub in the region.”
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By GlobalDataRepresentatives signing the MoU included METLEN international energy supply and trading chief executive director Panagiotis Kanellopoulos and Shell LNG executive vice-president Tom Summers.
The event took place in the presence of Greece’s Minister of Environment and Energy Stavros, N Papastavrou; US Secretary of Energy Chris Wright; US Secretary of the Interior and National Energy Dominance Council chairman Doug Burgum; US Ambassador to Greece Kimberly Guilfoyle; and Shell US president Colette Hirstius.
The MoU sets out a framework for collaboration in line with the Vertical Gas Corridor initiative.
The Vertical Gas Corridor is designed to increase connectivity between Greece and countries such as Bulgaria, Hungary, Moldova, Romania, Slovakia and Ukraine using existing infrastructure, including the newly operational Alexandroupolis FSRU and the Trans-Balkan Pipeline.
This corridor offers an alternative route for gas supply into Europe and connects to substantial underground storage in Ukraine.
Shell continues to be a major purchaser of US LNG with significant shipping capacity and a large market portfolio.
According to Shell’s LNG outlook released in late 2025, global demand for the commodity could rise by around 60% by 2040. The demand will be driven by factors including economic growth in Asia and efforts to reduce emissions in heavy industry and transport, alongside impacts from AI.
In 2024, worldwide LNG trade increased by only two million tonnes (mt), the smallest annual rise in a decade, reaching 407mt amid limited new supply development.
By 2030, more than 170mt of new LNG supply may become available globally. However, project start-up timelines remain uncertain.
Earlier this month, Shell reported net income for the fourth quarter of 2025 (Q4 2025) of $4.1bn (£3.03bn), or $0.71 per diluted share, compared with $928m, or $0.15 per diluted share, for Q4 2024.
Shell’s LNG liquefaction output in 2025 was 28.4mt, a 2% decrease from 29.1mt in 2024.
