Shell has divested its stake in the Aphrodite gas field off the coast of Cyprus, selling it to Hungary’s MOL Group. This move marks Shell’s exit from the project, while allowing MOL to expand its presence in the Eastern Mediterranean energy market. The Aphrodite field holds an estimated 3.5 trillion cubic feet of natural gas and is considered a significant discovery for Cyprus. MOL’s acquisition requires regulatory approval and is subject to final agreements, but signals a strong vote of confidence in the field’s potential. The deal underscores the growing interest in natural gas resources in the region as Europe seeks to diversify its energy supplies. This transaction could significantly impact Cyprus’s energy future and regional energy dynamics. Further details of the financial terms were not disclosed.