Story thread · 3 reports / 3 sources
Shell Sells Cyprus Gas Stake to MOL for $720 Million
oilprice.com · 11d
How the coverage leans
Across 3 sources · syndicated copies counted once
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 Friday announced the 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…
First report: Shell to sell Cyprus unit for up to $720 million as it focuses on LNG — reuters.com, 11d
The coverage
- MOL Group buys Shell’s subsidiary in Cyprus for $720 million
offshore-energy.biz · 11d
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