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MET Group Secures a Decade-Long LNG Deal with Shell: A Strategic Move Set to Boost European Energy Supply Security
Karmactive Staff
Karmactive Staff
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Swiss energy company MET Group has signed a 10-year FOB agreement with Shell to purchase liquefied natural gas (LNG) from the US, with deliveries starting in 2025.
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The long-term contract aims to secure energy supplies in Europe, stabilize regional energy markets, and diversify supply sources amid economic and geopolitical changes.
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MET Group will optimize its downstream requirements across Europe, where it has secured long-term regasification capacity in Germany, Croatia, and Spain.
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The flexible LNG supply from this agreement supports MET Group’s ambitions to enter new regions, such as Asia.
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György Vargha, CEO of MET International AG, emphasized the importance of this long-term agreement for MET's LNG strategy.
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The agreement allows MET Group to deliver reliable and competitive energy solutions to its diverse customer base, including gas-fired power plants, energy-intensive industries, SMEs, and households.
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This partnership helps manage price volatility and secure energy supplies, contributing to energy security in a volatile market.
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The deal aligns with global trends toward cleaner energy, as LNG is considered a transitional fuel that bridges the gap to a decarbonized future.
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Energy experts and economists are optimistic about the agreement's potential to increase energy security and stabilize regional gas prices, while some environmentalists view LNG as a transitional fuel rather than a long-term solution.
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