MET International AG, the trading and wholesale division of 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 establishes the framework through 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 strengthen 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 purchases and supplies according to their requirements. The agreement represents an important step in implementing MET’s strategy of diversifying its supply sources, while strengthening its growing customer portfolio in over 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 represents a new important step in strengthening transatlantic energy ties and will contribute to increasing the energy security of the European Union,” said Huibert Vigeveno, CEO of MET Group.