Celsius wins contract to build MET Group’s first LNG vessel

Full-service shipping company Celsius has signed a deal through which it will build the first liquefied natural gas (LNG) vessel for MET Group, a European energy company.

A partnership agreement signed between the duo targets a delivery date in 2027.

The LNG carrier will help MET Group grow its LNG activities and support its strategy to enhance its ability to supply customers with LNG. China Merchants Heavy Industry will construct the new carrier.

Benjamin Lakatos, Chairman and CEO of MET Group, 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.”

In 2023, MET Group delivered more than 30 LNG cargoes to Europe. In July 2024, the company also signed a 10-year US LNG purchase agreement with Shell to further diversify its supply portfolio.

Read more: Met Group signs 10-year US LNG deal with Shell

Jeppe Jensen, Chairman and CEO of Celsius, shared his excitement for the partnership, noting the opportunity to expand the company’s presence within the industry.

He added, “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 enhancing the energy transition given the importance of LNG as the most important imminent fuel for the green transition.”

According to market research firm Technavio, the LNG carrier market is set to grow by around $3.6bn between 2023 and 2028. This is primary due to the increased demand for natural gas and the expansion of LNG liquefaction capacity.