Greece's Metlen signs LNG supply and trading cooperation deal with Shell
Greece's Metlen said on Wednesday it had signed a memorandum of understanding with Shell to cooperate on liquefied natural gas supply and trading.
Greek energy companies have been seeking deals to supply central and southern Europe with U.S.-produced LNG as the U.S. works to replace Russian gas in Europe.
Metlen, a London- and Athens-listed energy and metals group, said the agreement will allow it to secure and trade between 0.5 Bm3y and 1.0 Bm3y of LNG from 2027 to 2031, with deliveries routed through Greece's Revithoussa and Alexandroupolis terminals.
The deal also envisages using the Vertical Gas Corridor, a route to transport gas from Greece through central Europe and Ukraine, enabling access to additional European markets beyond Southeast Europe, as Greece aims to bolster its role as a gas transit country.
A consortium led by U.S. oil major Chevron signed exclusive lease agreements earlier this month to search for natural gas off southern Greece, expanding U.S. presence in the eastern Mediterranean (learn more).
ExxonMobil in November joined Energean and Helleniq to explore another offshore block in western Greece.
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