Shell and MET Group sign an MOU to supply US LNG to Europe

LONDON, February 25 - Switzerland's energy trader MET Group reportedly announced on Wednesday that it 'has signed a Memorandum of Understanding (MoU), with Shell, for the possible purchase of a liquefied gas (LNG), primarily from Shell’s U.S. portfolio of LNG, between 2027-2033.

The companies will also 'explore cooperation on LNG and gas trade to facilitate a 'access to European markets via the so-called Vertical?Gas?Corridor. This includes sales to various European regasification plants, MET stated in a?statement. The companies also intend to 'explore cooperation in LNG and gas trading to facilitate?access to European markets through the so-called Vertical Gas?Corridor, including sales into various European regasification facilities, MET said in a statement.

MET has delivered LNG to 17 different markets in Europe. Germany, Belgium, Spain, the UK and Italy are among its most active markets. In Asia, it delivered LNG to China, India, Japan, and South Korea.

The company has entered into a 10-year agreement with Shell for the purchase of U.S. Liquefied Natural Gas (LNG) in 2024. (Reporting and editing by Nina Chestney; Marwa Rashad)

(source: Reuters)