As part of its LNG growth strategy, Swiss-based MET Group has reached a partnership agreement with Celsius to build MET’s first LNG vessel, scheduled to be delivered in 2027.
The efficient, modern LNG carrier will be constructed by China Merchants Heavy Industry (Jiangsu) and will support the growing LNG activities of MET Group. MET’s JV equity partner Celsius is a leading ship owner and operator focusing on sustainable, infrastructure-like investments and special opportunities within the maritime industry.
The purchase of the vessel supports MET Group’s strategy to enhance its ability to supply its customers with LNG from various sources, including the recently signed agreement with Shell to purchase US LNG over a period of 10 years.
MET Group has one of the most geographically diverse LNG import structures in Europe, with long-term regasification capacity bookings in Germany, Croatia and Spain. MET Group has imported into eight different countries across the Mediterranean (Greece, Italy, Croatia, Spain), Northwest Europe (UK, Belgium, Germany) and the Nordic region (Finland). In 2023, MET Group delivered more than 30 LNG cargoes to Europe.
MET Group Chairman and CEO Benjamin Lakatos said: “We are delighted to reach this milestone for our LNG activities in partnership with Celsius. At MET we believe LNG will play an important role in the European energy transition.”
Celsius Chairman & CEO Jeppe Jensen commented: “We are very pleased to continue expanding our presence within the LNG industry via additional modern fuel efficient vessels with lowest possible unit freight costs. We are delighted to start this new partnership with MET Group and support the company in their ambitious LNG strategy. Efficient LNG carriers are key to enhance energy transition given the importance of LNG as the most important imminent fuel for green transition.”