MET International AG, the trading and wholesale arm of Swiss-based integrated energy company MET Group, and Shell Global LNG Ltd have signed a non-binding memorandum of understanding (MoU) to expand their existing long-term co-operation in LNG and gas trading.
The MoU provides a framework for the potential purchase by MET of LNG, sourced primarily from Shell’s US LNG portfolio, for delivery to various European regasification facilities. The co-operation with Shell aims to enhance the security of gas supply in Europe.
MET operates a uniquely customer-back energy model in Europe, structuring its sourcing and supply around the needs of end customers. The agreement further advances MET’s strategy to diversify supply sources while reinforcing its strong and steadily expanding customer portfolio across more than 20 European countries.
“MET is proud to support the strategic co-operation between the US and the EU in the field of LNG supplies. This MoU represents another important step in strengthening transatlantic energy ties and will contribute to enhancing the energy security of the EU,” said Huibert Vigeveno, Group CEO of MET Group.