MOL to acquire Shell’s Aphrodite gas field stake for up to $720m

Shell has agreed to sell its BG Cyprus unit to Hungarian oil and gas firm MOL Group for up to $720 million, Reuters reported, as the British energy major sharpens its focus on LNG operations.

BG Cyprus’ 35% non-operated interest in a Cyprus Offshore block, home to the Aphrodite gas field in the eastern Mediterranean, will be controlled by MOL upon the expected 2027 completion of the deal....