London, February 25, 2026, 07:54 GMT — Premarket
- METLEN has signed a memorandum with Shell to supply and trade LNG from 2027 through 2031.
- Shell finished the day at 2,971.5 pence in London, with its U.S. shares ticking higher after hours.
- Oil traded close to its highest levels in months as investors watched for updates from U.S.-Iran talks, leaving energy stocks on edge.
Shell shares looked primed for attention in London Wednesday after METLEN Energy & Metals out of Greece announced it had inked a memorandum of understanding with Shell for liquefied natural gas LNG supply and trading. On Tuesday, Shell’s stock finished at 2,971.5 pence, marking a 0.22% gain. In U.S. trading, Shell’s shares last changed hands at $80.78, up 0.25%.
Timing is crucial here: Europe’s still relying heavily on LNG cargoes to get through the winter, with imports hitting all-time highs and inventories lagging behind their usual seasonal marks, LSEG shipping data shows, as reported by Reuters. A flood of U.S. exports and less spot buying out of China are shaking up both cargo movement and pricing.
Energy shares are moving alongside crude prices. Brent futures climbed 0.6% to $71.20 a barrel by 0400 GMT, as traders factored in what ING commodities strategists described as a “large risk premium” before U.S.-Iran negotiations set for Thursday in Geneva. Reuters
METLEN plans to partner with the other firm to supply and trade between 0.5 and 1.0 bcm of gas annually from 2027 through 2031, moving the volumes into Greek LNG regasification sites to convert LNG back into gas. “This MoU marks an important step,” executive chairman Evangelos Mytilineos said, as METLEN aims to strengthen its European gas market position. Investegate
Shell kept whittling down its share count, disclosing a buyback of 1,191,059 shares for cancellation on Feb. 24. That’s tied to the $3.5 billion repurchase program, with Morgan Stanley handling trades independently through May 1. Shell previously said it targets wrapping up the buyback ahead of first-quarter results.
The buyback comes as part of a wider effort to maintain consistent payouts despite choppy earnings. Earlier this month, Shell posted fourth-quarter adjusted profit below forecasts, but held firm on buybacks and bumped up its dividend.
METLEN is a minor deal compared with Shell’s huge LNG portfolio. Still, it signals management’s push toward areas like trading, shipping, and building flexibility around Europe’s gas routes—less about pumping barrels, more about moving and optimizing them.
The cooperation, though, won’t bear fruit for years. A warmer winter, shrinking demand, or another surge in supply could all undercut the value of extra trading and flexibility for Europe’s gas market.
Oil stands out right now as the risk the tape can’t ignore. Should geopolitics settle and crude’s risk premium slip, the floor under large integrated names could give way quickly—even on upbeat company headlines.
Thursday brings U.S.-Iran talks, while U.S. inventory data is due later Wednesday—both sitting on traders’ radars. Over at Shell, mark March 16 for its LNG Outlook update, with first-quarter results and dividends scheduled for May 7.
