Swiss company MET Group has concluded a FOB (Free-On-Board) purchase agreement for long-term liquefied natural gas by signing a 10-year contract with Shell. MET’s main objective is to supply LNG from the United States of America to Europe.

By signing the long-term contract with Shell, MET Group further diversifies its LNG product portfolio, contributing to the supply of customers in Europe. Thus, both the demand of own gas power plants and that of industrial customers who consume a large amount of energy, SMEs and household customers are covered. In addition to strengthening the security of supply of the MET portfolio in Europe, the flexible offer of LNG products also allows the diversification of the activity, giving the company the opportunity to expand its geographical presence to new regions, such as Asia.

MET has one of the most geographically diversified LNG import structures in Europe. The energy company has long-term regasification capacity in Germany, Croatia and Spain and has imported into 8 different countries in recent years – including the Mediterranean (Greece, Italy, Croatia, Spain), North West Europe (UK, Belgium, Germany) and in the Nordic region (Finland). In 2023, MET delivered more than 30 LNG cargoes to Europe.

“The long-term FOB agreement fits perfectly into MET’s LNG strategy. We have a diversified downstream position based on a portfolio with regasification capacity across Europe that optimizes requirements with flexible supply sources. Thus, the natural step was to obtain a long-term FOB position that would allow us to diversify into global LNG markets,” said György Vargha, CEO of MET International AG.

“LNG plays a critical role in ensuring energy security, and agreements like this are fundamental to achieving this goal. We look forward to working with MET Group to secure gas supply and meet the diverse needs of our customers,” added Tom Summers, Senior Vice President of Shell LNG Marketing and Trading.