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Strategic Deals of Greek companies in energy and shipbuilding

Featured Strategic Deals of Greek companies in energy and shipbuilding
Greek companies signed late on Tuesday in Washington new agreements that give impetus to the Vertical Corridor and Greek-American cooperation in the liquefied natural gas (LNG) sector, on the sidelines of the Transatlantic Conference in Washington on Natural Gas Security.
 London- and Athens-listed Metlen surprised everyone by signing an agreement with Shell, the largest buyer of American LNG today.
The five-year agreement, with immediate effect from 2027, provides for the supply of 0.5 to 1 billion cubic meters of LNG per year (10 cargoes) that will arrive in Greece and, through the Vertical Corridor, will be channeled to other markets beyond those of Southeast Europe.
The two companies also agreed to a broader cooperation for the joint marketing of natural gas along the Vertical Corridor.
The Metlen side was represented by the head of International Energy Supply & Trading Panagiotis Kanellopoulos, who also signed the agreement with Shell. Metlen is currently Greece’s largest LNG importer with a significant share of exports to the Balkan countries, while by fall 2027 it should fully replace the quantities of gas supplied by Gazprom through a long-term contract.
“The MoU with Shell is an important step in strengthening Metlen’s role in the European natural gas markets. Our cooperation confirms our shared commitment to strengthening Europe’s energy resilience, while at the same time supporting Greece’s development into a key energy hub in the region,” said Metlen’s Executive Chairman Evangelos Mytilineos.
Atlantic SEE signed new long-term agreements to sell American LNG with four countries. The consortium, in which the Aktor group participates with 60% and DEPA Commercial with 40%, signed long-term supply agreements with the Ministry of Infrastructure and Energy of Albania, with the public company Bulgargaz of Bulgaria.
The Greek LNG consortium also signed agreements with Aluminij Industries and M.T. Abraham group of Bosnia and Herzegovina, and with Naftogaz of Ukraine.
At the meeting, Atlantic SEE was represented by the CEO of the company and head of the Aktor group, Alexandros Exarchou, who signed the relevant agreements.
The agreements, which were the subject of intensive contacts in the past period, were signed in the presence of the US Secretaries of Energy and Interior, Chris Wright and Doug Burgum, the Greek Minister of Environment and Energy, Stavros Papastavrou, and the US Ambassador to Athens, Kimberly Guilfoyle, who played a decisive role in their maturation.
Tuesday’s agreements follow those signed by Atlantc SEE in November in Athens, supporting the country’s strategy to strengthen the Vertical Corridor and its geostrategic role in the region, which the US has recognized, and highlighting the country as a gateway for the transport of American LNG to Central and Eastern Europe.
At the same day also, the signing of an agreement between the Greek group ONEX Shipyards, whose parent company is based in the US; and the South Korean shipbuilding giant Hanwha, in Washington on Wednesday, is a clear indicator of the increasing convergence between American national security priorities and Greek geostrategic interests.
Through this industrial partnership in the shipbuilding sector, Greece’s operational role in the broader US plan for the reconstruction of its global supply chains is also highlighted and strengthened.
The plan provides for a specific model of coproduction and gradual transfer of know-how to ONEX’s Elefsis Shipyards in the medium term.
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