Economy

MOL Agrees to Buy Shell’s 35% Aphrodite Gas Stake for Up to $720 Million

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Courtroom-sketch editorial illustration of Israeli businessman Yitzhak Tshuva speaking at a conference podium and gesturing with both hands

MOL Group said it signed an agreement to acquire BG Cyprus Ltd. from Shell, gaining the subsidiary’s 35% non-operated interest in Cyprus’s offshore Aphrodite gas field. The price is up to $720 million, including milestone-linked contingent payments, and closing is expected in early 2027 subject to approvals. Aphrodite is estimated to contain about 104 bcm of contingent gas and 8 million barrels of condensate, with a 2027 investment decision and first gas targeted for 2031. The transaction puts a roughly $600 million indicative value on Israel’s NewMed Energy 30% stake.

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