MET Group and Keppel finalise HOA for LNG supply in Singapore

MET Group has finalised the Heads of Agreement with Keppel Ltd.’s Infrastructure division, together with a licensed LNG importer, for the long-term LNG cargo deliveries of 0.5mtpa. This deepens the partnership between MET and Keppel, who has 10% shareholding in MET.

To be supplied from MET's solid European import portfolio of LNG, this partnership will enhance the security of supply in Singapore.

MET has been active in spot and mid-term deliveries in the Pacific basin, with this HOA being the first long-term contract for MET in the Pacific. The deal secures coverage of the expected increase in Keppel’s gas demand over the next years, whilst fitting with MET Group’s strategy of expanding its global LNG footprint.

The agreement further strengthens the partnership and synergies between Keppel and MET, aiming to expand and capture gas value chain opportunities in Singapore – and exploring opportunities beyond Singapore, benefiting from the rise of energy and power demand in Asia.

LNG is a key element in ensuring supply security of energy markets, and MET Group is committed to growing LNG deliveries. In recent years, MET has built one of the most geographically diverse LNG import structures in Europe, with long-term regasification capacity bookings in Germany, Croatia and Spain.

The company has imported LNG cargoes to several countries across the Mediterranean (Greece, Italy, Croatia, Spain), Northwest Europe (UK, Belgium, the Netherlands, Germany) and the Nordic region (Finland).

In 2024, MET entered into a 10-year LNG agreement with Shell to purchase US LNG with the intent to continue growing its long-term LNG portfolio. MET also ordered its first LNG carrier, for delivery in 2027, after reaching a partnership agreement with Danish shipowner Celsius Group.

The LNG supply is conditional upon the signing of LNG Sales & Purchase Agreement and fulfilment of conditions precedent including regulatory approval.