Shell is cooperating with the government of Cyprus on a project, leading to an agreement to sell a subsidiary for up to $720 million, while maintaining a presence in Egypt.
5 reports, 1 independent
Updated Jul 31
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What happened
Shell is cooperating with the government of Cyprus on a project, leading to an agreement to sell a subsidiary for up to $720 million, while maintaining a presence in Egypt.
Who's involved
What this event is mainly aboutHow it developed
Newest first. Tap a step to see who reported it.- Shell agreed to sell the BG Cyprus unit, which is related to the Aphrodite gas field, to MOL Group.Sub-event
Shell/Cyprus cooperation on a major energy project leading to a subsidiary sale.1 source
Keep exploring
Part of
Turkey's regional influence and Eastern Mediterranean gas disputesAlso in this story
- A three-way summit was held between Cyprus and Egypt focusing on regional cooperation.
- Cypriot gas is planned to utilize Egyptian infrastructure for export, providing pivotal liquefaction facilities for the European gas market.
- Ankara claims an expansive exclusive economic zone, highlighting the critical nature of shared natural gas discoveries in the region.
The entities involved
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Shell
British multinational oil and gas company
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Cyprus
country in the Mediterranean Sea
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Egypt
country in Northeast Africa and Southwest Asia