Shell Sells BG Cyprus Unit to MOL Group
July 31, 2026
Shell has agreed to sell its BG Cyprus unit to the MOL Group for up to $720 million as part of its strategy to focus on liquefied natural gas (LNG). Upon completion of the deal, expected by 2027, MOL will acquire a 35% stake in the Aphrodite gas field in the Eastern Mediterranean. The head of Shell stated that this decision is based on a strategic capital allocation. Shell aims to invest more in the LNG market due to increasing global demand. The Aphrodite field is managed by Chevron, with other companies also participating.