METLEN and Shell Global LNG Limited have signed a binding long-term Liquefied Natural Gas (LNG) supply agreement, announced on 2 November 2026 in Athens and London.

Five-Year LNG Supply Deal Agreement

The agreement builds on a Memorandum of Understanding (MoU) that the two companies signed in February 2026, converting that earlier framework into a formal supply commitment.

Under the terms of the deal, Shell Global LNG Limited will supply METLEN with six LNG cargoes per year, amounting to approximately 0.6 billion cubic meters per annum (bcma), over a period of five years, commencing in 2027.

Sourcing and Delivery Routes

The LNG cargoes will be delivered to METLEN and will be primarily sourced from Shell's US LNG portfolio.

From there, the gas will be supplied to Greece or to other European gas markets. The press release also references access to European markets through the Vertical Gas Corridor as part of the arrangement's stated purpose.

The agreement is described as strengthening METLEN's long-term supply portfolio, its sourcing diversification, and its commercial flexibility across European energy markets.

What Each Side Brings to the Partnership

According to the announcement, the deal marks a further step in the development of the cooperation between the two companies.

It combines Shell's global LNG portfolio, shipping capabilities, and trading expertise with METLEN's established presence in Southeast Europe and its growing role in European energy markets.

For METLEN, the agreement reinforces its strategy to strengthen its position through long-term supply arrangements, portfolio diversification, and enhanced commercial flexibility.

For Shell, the deal extends its role in supplying flexible and reliable energy to customers across Greece and other European countries.

Executive Statements

Panayotis Kanellopoulos, Chief Executive Director International Energy Supply & Trading of METLEN, said the agreement translates the companies' shared ambition into a long-term supply partnership.

"Combining Shell's global LNG capabilities with METLEN's established regional presence strengthens our supply portfolio and gives us greater flexibility to serve Greece and other European markets," he stated, adding that it is a further step in the company's strategy to diversify energy sourcing and strengthen METLEN's role in Europe's evolving energy landscape.

Tom Summers, Executive Vice President for Shell LNG Marketing and Trading, said that LNG plays a vital role in providing flexible and reliable energy for people and businesses across Greece and other European countries.

"We are pleased to sign this agreement with METLEN to help supply their customers across the region, and we look forward to exploring opportunities to further our collaboration in the future," he said.

Regional and Strategic Context

The agreement is positioned as strengthening METLEN's role in regional and European natural gas markets while supporting Greece's evolution into a key energy hub in the region.

The announcement ties the deal to the Vertical Gas Corridor, described in the release as a route for access to European markets, and frames the five-year supply commitment as a means of securing volumes for both the Greek market and broader European gas markets.

Volume and Duration at a Glance

The core commercial terms are specific: six cargoes annually, approximately 0.6 bcma in total yearly volume, a five-year term, and deliveries beginning in 2027. The sourcing is primarily from Shell's US LNG portfolio, with destination flexibility to Greece or other European gas markets.

Broader METLEN Activity in 2026

The LNG agreement comes in the same year as other METLEN activity highlighted alongside the announcement.

In mid-October 2026, METLEN and Karatzis Group inaugurated Greece's largest standalone battery energy storage system (BESS) in Thessaly, a project referenced in METLEN's recent company news.

The LNG deal with Shell, signed at the beginning of November 2026, adds to a year in which the company has been active across energy infrastructure and supply arrangements in Greece and Southeast Europe.

A Step in a Growing Cooperation

Both companies frame the agreement not as a standalone transaction but as a further step in an evolving relationship that began with the February 2026 MoU.

The release indicates that the binding nature of the new agreement formalizes ambitions previously outlined in that memorandum, and Shell's comments point to potential further collaboration between the two firms in the future.

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