MET Group Secures Long-Term Source of American LNG from Shell

The Swiss MET Group has signed a long-term FOB (Free-On-Board) contract for the purchase of LNG with Shell for a period of ten years. The primary goal of MET Group is to supply its European customers with American LNG.

With the long-term contract with Shell, MET Group has the opportunity to further enrich its LNG supply portfolio, thereby strengthening the security of supply for its customers across Europe, which includes its own gas power plants, energy-intensive industrial companies, as well as small and medium-sized enterprises and households. In addition to strengthening the security of supply in MET’s European portfolio, flexible LNG supply enables the achievement of diversification ambitions and allows the company to expand its geographical presence into new areas such as Asia.

From a geographical perspective, MET has one of the most diverse LNG import structures in Europe. The integrated energy company has long-term regasification capacities leased in Germany, Croatia, and Spain, and in recent years has imported LNG into eight different countries – including the Mediterranean (Greece, Italy, Croatia, Spain), Northwest Europe (UK, Belgium, Germany), and the Nordic region (Finland). In 2023, MET delivered more than 30 LNG cargoes to Europe.

– The long-term FOB perfectly fits into MET’s LNG strategy. Our diverse position in Europe is based on a portfolio of regasification capacities across the continent, optimizing demands with flexible supply sources. As a natural next step, we have entered into a long-term FOB position allowing diversification into global LNG markets – said György Vargha, CEO of MET International AG.

– LNG plays a key role in ensuring energy security, and such contracts are crucial for achieving that goal. We look forward to collaborating with MET Group to meet their gas needs and help satisfy the needs of their diverse customer base – said Tom Summers, Senior Vice President of Shell LNG Marketing and Trading.