Metlen Locks in Five-Year LNG Supply for Europe
Gas buyers in Greece and Europe will see six annual LNG cargoes from 2027, sourced largely from Shell's US portfolio.
Updated on Nov. 2, 2026 in Oil and Gas
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Metlen has signed a binding five-year liquefied natural gas supply agreement with Shell Global LNG Limited, following a memorandum of understanding signed in February 2026. Under the deal, Shell will supply six LNG cargoes a year starting in 2027, sourced primarily from its US LNG portfolio for delivery to the Greek market or other European gas markets.
Why it matters
The agreement reflects Metlen's push to strengthen its position through long-term supply contracts, portfolio diversification and greater commercial flexibility. For energy buyers in the region, a locked-in multi-year supply arrangement signals how gas procurement is shifting toward contracted, portfolio-sourced LNG rather than spot purchases.
The contract covers six LNG cargoes a year, roughly 0.6 billion cubic metres of gas annually, over five years starting in 2027. The source does not report pricing or total contract value, so the deal's scale against Metlen's broader gas volumes cannot be assessed.
The players
Metlen
A Greek industrial and energy company with a regional presence in gas and power markets, expanding through long-term supply arrangements.
Shell Global LNG Limited
The LNG trading arm of Shell plc, one of the world's largest integrated energy companies, with a global LNG portfolio and shipping operations.
The details
Shell's global LNG portfolio, shipping capability and trading expertise are being combined with Metlen's regional presence in Greece and Southeast Europe. The cargoes are sourced primarily from Shell's US LNG portfolio and delivered to Metlen for supply to the Greek market or other European gas markets. This arrangement lets Metlen access supply from a diversified global source rather than relying on a single regional route.
Timeline
February 2026: Metlen and Shell signed a memorandum of understanding.
November 2, 2026: The binding five-year LNG supply agreement was signed.
2027: Five-year LNG cargo supply under the agreement begins.
Market Landscape
The deal extends Europe's post-2022 reorientation toward US LNG supply, as buyers sought alternatives to Russian pipeline gas. Long-term portfolio contracts of this kind are becoming a common way for regional energy companies to secure supply and manage price exposure.
Gas buyers and procurement teams should note that long-term contracted LNG supply is becoming a reference model for securing volumes beyond spot markets. Operators in energy-intensive industries may want to review how multi-year supply terms affect their own cost planning, and should consult qualified energy counsel or advisers before making contracting decisions.
The takeaway
Long-term contracted LNG is increasingly the tool energy buyers use to lock in supply and reduce exposure to short-term market swings. Procurement teams should track when the 2027 cargo deliveries begin and how the Greek and wider European gas markets respond.
What happens next
The five-year supply period begins in 2027, when the first of the six annual cargoes is scheduled to arrive.
Further reading
For broader context on how LNG supply contracts are reshaping energy markets, explore the Oil and Gas section.
Source note: This article includes information reported by Αποκαλυπτικό ρεπορτάζ, αρθρογραφία και άμεση ενημέρωση, με όλα τα τελευταία νέα και ειδήσεις για την Οικονομία, τις Επιχειρήσεις, το Χρηματιστήριο, το Bitcoin, τις πολιτικές εξελίξεις και τον πολιτισμό.
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