Shell to Sell BG Cyprus to MOL Group in $720 Million Deal

02:52 AM EDT, 07/31/2026 (MT Newswires) -- Shell (SHEL.L, SHELL.AS) entered into a $720 million deal to sell its BG Cyprus subsidiary to Hungary-based oil and gas company MOL Group (MOL.BD). BG Cyprus owns a 35% non-operated interest in Block 12 offshore Cyprus, which covers the Aphrodite gas field in the eastern Mediterranean, according to a Friday statement. Chevron Cyprus and NewMed Energy hold the other 35% and 30% stakes, respectively. Completion of the sale is expected in early 2027, subject to closing conditions, including the approval of relevant regulators.