Energy trader MET Group signs 10-yr U.S. LNG supply deal with Shell
Switzerland-based energy trader MET Group has struck a 10-yr deal for Shell to supply it with liquefied natural gas (LNG) from the U.S. on a free-on-board (FOB) basis, it said on Tuesday.
MET Group said the agreement will enable it to further diversify its LNG supply portfolio, helping to ensure security of supply for its European customers.
The energy trader has long-term regasification capacity bookings in Germany, Croatia and Spain, and has imported into eight different countries in recent years, including Greece, Spain, Britain, Germany and Finland.
It delivered more than 30 cargoes of LNG to Europe in 2023. The flexible LNG supply agreement will also allow MET to extend into new regions such as Asia, it said.
In October, MET said it had set up an office in Singapore to focus on LNG trading as well as asset investments in what will be its first office in Asia.
Last year, the trader signed a 20-yr preliminary agreement with Commonwealth LNG to buy supplies of the fuel from the U.S. company's facility currently under development in Cameron, Louisiana from 2027 onwards.
It has also secured long-term LNG supply capacity in Germany and secured capacity to receive spot supply in Finland.
Related News
Related News
- Japan's Mitsubishi to acquire stake in Petronas LNG plant
- McDermott awarded Rovuma LNG Phase 1 FEED contract in Mozambique
- Fincantieri LNG-powered Star Princess launched in Monfalcone
- Wood leads industry project to accelerate CCUS with guidelines for CO2 specifications
- Picarro launches handheld solution for natural gas leak investigation and closed-loop leak management
- Picarro launches handheld solution for natural gas leak investigation and closed-loop leak management
- Fincantieri LNG-powered Star Princess launched in Monfalcone
- Sonatrach, Saudi Aramco raise prices for LPG by 3%–4% in October
- Amarinth secures $1-MM order of API 610 pumps for Coral North FLNG project in Mozambique
Comments