Shell (SHEL), METLEN Sign Strategic MOU for Five-Year European LNG Supply Cooperation

Shell (NYSE:SHEL) is one of the cheap energy stocks to buy right now. On February 25, Shell and METLEN (formerly Mytilineos) signed a strategic memorandum of understanding/MOU to cooperate on LNG supply and trading between 2027 and 2031. The agreement outlines the annual supply of 0.5 to 1.0 billion cubic meters/bcm of LNG, targeting Greek regasification terminals at Revithoussa and Alexandroupolis.

This partnership aims to strengthen Europe’s energy resilience by using Greece’s evolving infrastructure to secure reliable natural gas flows into the region. The collaboration is designed to utilize the Vertical Gas Corridor, an initiative aimed at increasing connectivity between Greece and several Eastern European nations, including Ukraine and Hungary.

By using the newly operational Alexandroupolis FSRU and existing pipeline networks, the partners intend to provide an alternative gas route that can access substantial underground storage in Ukraine. This moves Greece further toward its goal of becoming a primary energy hub for Southeast Europe. This deal aligns with Shell’s (NYSE:SHEL) long-term outlook, which predicts a 60% increase in global LNG demand by 2040.

Shell (NYSE:SHEL) operates as an energy and petrochemical company in Europe, Asia, Oceania, Africa, the US, and other Americas.

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