The MOL Group has signed an agreement with Shell for the acquisition of BG Cyprus Ltd., which holds a 35% stake in the offshore Block 12 in Cyprus, including the Aphrodite gas field.

The Hungarian group MOL, the third largest fuel distributor in the Romanian market, has announced the signing of an agreement with Shell for the acquisition of BG Cyprus Ltd., a wholly owned subsidiary of Shell. This subsidiary holds a 35% stake in the offshore Block 12 in Cyprus, which includes the Aphrodite gas field, located in the eastern Mediterranean. This acquisition is part of MOL's strategy to expand its energy resource portfolio and strengthen its presence in the natural gas market. The agreement will allow MOL to benefit from the gas resources in the region, thus contributing to the diversification of supply sources. The financial details of the transaction have not been made public, but it is estimated that it will have a significant impact on MOL's energy operations.