MET Group reaches partnership agreement with Celsius to build first MET LNG vessel
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 is an integrated European energy company headquartered in Switzerland, with activities and assets in natural gas and power markets. MET is present in 15 countries through subsidiaries, 30 national gas markets, and 39 international trading hubs. The company's 1000+ employees represent close to 60 nationalities. MET has extensive experience in operating green (renewable) and flexible (dispatchable) energy assets, thus providing the widest possible support to the energy transition. In 2023, MET Group’s consolidated sales revenue amounted to EUR 24.5 billion, with a total traded volume of natural gas amounting to 88 BCM and total traded electricity of 68 TWh.
Celsius Group is a leading ship owner and operator focusing on sustainable, infrastructure-like investments and special opportunities within the maritime industry. Celsius Group has a diversified and modern fleet of over 40 vessels (including new builds on order) across LNG carriers, Product & Chemical Tankers as well as Container Feeders. Celsius Group’s LNG carrier fleet now totals 20 ultra efficient vessels, including 10 in operation and 10 on order making it one of the largest modern LNGC fleets, globally. Celsius Group takes an active approach to ESG including via the Celsius Crew Welfare program for better and safer life at see.
