Landmark agreement between Shell and METLEN
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PRESS RELEASE
Landmark agreement between Shell and METLEN for cooperation in LNG supply and trading
Athens, Greece / London, United Kingdom - February 25, 2026 - Shell and METLEN, signed on Tuesday, February 24, 2026, a Memorandum of Understanding (MoU), establishing a framework for cooperation in the supply and trading of Liquefied Natural Gas (LNG).
Shell, one of the world's largest LNG producers and traders, and METLEN, which holds a leading position in the natural gas market of Southeast Europe, are both listed on the London Stock Exchange and on the FTSE 100 Index.
Under the MoU, the two companies will supply and trade approximately 0.5 to 1.0 bcm per year over the five-year period 2027-2031, with deliveries to the Greek LNG regasification facilities in Revithoussa and Alexandroupolis. The agreement also envisages the use of the Vertical Gas Corridor, enabling access to additional European markets beyond Southeast Europe.
Shell, as the largest purchaser of LNG from the United States, is well positioned to support growing natural gas supply needs through its global portfolio, advanced shipping capabilities, and extensive market expertise.
With this support, METLEN is further strengthening its position as a key natural gas player in the region, enhancing market liquidity while contributing to regional energy security and reinforcing Greece's role as a strategic regional energy hub.
Evangelos Mytilineos, Executive Chairman of METLEN, stated: "This MoU with Shell marks an important step in strengthening METLEN's role in the European natural gas markets. Our cooperation confirms our shared commitment to enhancing Europe's energy resilience, while supporting Greece's evolution into a key energy hub in the region."
The MoU reflects the intention of both parties to pursue joint development across a number of European countries, in alignment with the Vertical Gas Corridor initiative. The agreement was signed in Washington, D.C., by Panagiotis Kanellopoulos, Chief Executive Director, International Energy Supply & Trading at METLEN, and Tom Summers, Executive Vice President, Shell LNG, in the presence of Stavros N. Papastavrou, Minister of Environment and Energy of Greece; Chris Wright, United States Secretary of Energy; Doug Burgum, U.S. Secretary of the Interior and Chairman of the National Energy Dominance Council; Kimberly Guilfoyle, United States Ambassador to Greece; and Colette Hirstius, President, Shell USA, Inc., highlighting the strategic importance of this cooperation.
Notes to editors:
Official photo material of METLEN and its activities can be found here.
For further information please contact:
Ms. Antigoni Fakou: METLEN Press Office, Tel. +30210-6877346 | Fax +30210-6877400 | E-mail: Antigoni.fakou@metlen.com
About METLEN:
METLEN Energy & Metals Plc (METLEN) is the parent company of the international industrial and energy group, a leader in the metallurgy and energy sectors, focused on sustainable growth and the circular economy. METLEN is a benchmark in competitive "green" metallurgy at both European and global level, operating the only fully integrated bauxite, alumina and primary aluminium production plant in the European Union, with privately owned port facilities. In the energy sector, the Company provides integrated solutions through the implementation of thermal and renewable power generation projects, electricity distribution and supply, as well as investments in network infrastructure, battery storage and other green technologies. METLEN operates across five continents and in more than 40 countries, employing over 9,000 people worldwide and applying a fully synergistic model across its metallurgy, energy and end-to-end energy project development activities.
METLEN Financial Highlights
The Company has its primary listing on the London Stock Exchange and secondary listed on the Athens Stock Exchange, and is a constituent of the FTSE 100 Index. In 2024, METLEN reported consolidated revenue of €5.68 billion and EBITDA of €1.08 billion, up 7% year-on-year, with net profit of €615 million. Adjusted net debt stood at €1.78 billion, with a Net Debt/EBITDA ratio of 1.7x, reflecting strong financial resilience. METLEN is rated by leading international sustainability and ESG agencies, holding the unique Greek position in the Dow Jones Best-in-Class Emerging Market index, and distinguished across MSCI, Sustainalytics, ISS Quality score, ISS Corporate Score, S&P Global ESG, LSEG, CDP, FTSE Russell, ESG Book, EcoVadis, Bloomberg and IdealRatings.
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