MET International AG, the trading and wholesale division of the MET Group, headquartered in Switzerland, and Shell Global LNG Limited have signed a non-binding Memorandum of Understanding (MOU) to expand their long-term cooperation in the field of LNG (liquefied natural gas) and natural gas trading.
The memorandum sets the framework under which MET could purchase LNG, mainly from Shell's US LNG portfolio, for delivery to various European regasification points. The collaboration with Shell aims to enhance the security of gas supply in Europe.
MET operates a unique energy model in Europe, focused on the needs of end customers (customer-back), structuring its procurement and supply according to their requirements. The agreement is an important step in the implementation of MET's strategy to diversify its sources of supply, while strengthening its growing customer portfolio in more than 20 European countries.
„MET is proud to support the strategic cooperation between the United States and the European Union in the LNG supply segment. This Memorandum is an important new step in strengthening transatlantic energy ties and will contribute to enhancing the European Union's energy security”said Huibert Vigeveno, CEO of MET Group.