Shell Sells Cyprus Gas Stake to MOL for $720 Million | EN590 Commodities
EN590 Commodities GroupCrude Oil July 31, 2026
ADNOC Unveils New Crude Pricing Mechanism What I Cover
My focus spans the global energy landscape and the technologies reshaping it, specifically focusing on oil and gas, renewables, and tech-driven market… Shell has agreed to sell its wholly-owned subsidiary BG Cyprus Ltd to MOL Group of Hungary for $720 million, as the UK-based oil and gas supermajor targets to grow its LNG value chain. Shell on Fridayannouncedthe agreement with MOL Group for the sale of BG Cyprus, which holds a 35% non-operated interest in the Cyprus Offshore Block 12, subject to customary adjustments and milestone-linked contingent payments. Block 12 contains the Aphrodite gas field, which is operated by Chevron’s local subsidiary. Chevron, MOL, and NewMed Energy, which will be the new co-owners of the field, would be
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