There’s been rumor that Hideo Kojima will be announcing Metal Gear Solid 5 at E3 this year.

The rumors have emerged in PSM3 magazine, which were spotted by PS3 Center.

The magazine said: "MGS maestro Hideo Kojima's got some big announcements for E3 in June: one a quasi-logical step for an existing game, the other... well, we'd be shocked if MGS5 wasn't on the table at some stage. Or under it. In a box."

Despite the fact it’s now 3 years since Metal Gear Solid 4: Guns of the Patriots was released, we still haven’t seen a thing announced about a proper sequel. Hideo has always insisted MGS4 was set to be the end for Snake, but he has been known to change his mind a lot with these statements like these.

Further hinting towards a new game was made with Konami’s advertising for "Next Generation Metal Gear Solid Series Production Staff" earlier this year.

What exactly a “quasi-logical step” means is up for speculation, it could be an expansion of the same sort of variety that we saw with MGS2 and MGS3 with Substance/Subsistence.

Perhaps the “quasi-logical step” is referring to the idea of a Next Generation Portable edition of MGS, as attendees of the Tokyo PlayStation Meeting were treated to a demonstration of the new NGP running MGS4.

No rumor has so far been commented on by Konami.