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Cyprus Mail31 Jul 2026

Shell exits Cyprus Aphrodite gas field in $720m deal

Shell exits Cyprus Aphrodite gas field in $720m deal

Energy company Shell said on Friday it had ‌agreed to sell its BG Cyprus unit to Hungarian oil and gas firm MOL Group for up to $720 million, as the British oil major sharpens its focus on LNG ​operations.

BG Cyprus’ 35 per cent 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....

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