Shell Energy, MVM Sign 10-Year Gas Deal Europe; TotalEnergies, KOGAS Plan 10-Year LNG Supply South Korea

Shell Energy Europe Limited (SEEL) and Hungary's state-owned MVM CEEnergy have signed a ten-year agreement beginning in 2026 for SEEL to supply around 200 million cubic meters of natural gas annually, aiming to strengthen energy security and diversify gas supply in Central Europe. Meanwhile, TotalEnergies and South Korea's national gas company KOGAS have entered a 10-year contract starting at the end of 2027 for the delivery of 1 million tons of LNG annually, which will increase to 3 million tons per year from 2028. This deal enhances South Korea's energy security by diversifying LNG sources, with volumes sourced from TotalEnergies’ global portfolio, especially from the United States. Both partnerships reflect strategic efforts to secure long-term, reliable natural gas supplies to meet regional energy needs amid evolving global energy challenges. Executives from all companies emphasized the importance of these agreements in strengthening energy supply stability and commercial relationships in their respective regions.