Re Agreement
November 06 2003 - 6:03AM
UK Regulatory
RNS Number:7501R
Total S.A.
6 November 2003
India: Agreement Signed to Build a Liquefied Petroleum Gas Import
and Storage Terminal
Paris, November 6, 2003 - Total announces that it has signed an agreement with
Hindustan Petroleum Company Ltd., India's third largest refiner, concerning the
construction of a liquefied petroleum gas (LPG) import and underground storage
terminal in Visakhapatnam, in the eastern Indian state of Andhra Pradesh.
The two partners each own a 50% interest in South Asia LPG Ltd., the company
that will build and run the terminal.
With a storage capacity of 60,000 metric tons, the terminal will be the largest
such facility on India's east coast and the first of its type in a country where
demand for LPG is experiencing strong growth. Construction will begin in
December 2003, with commercial start-up scheduled for third-quarter 2006.
The agreement strengthens the Group's strategy of expanding in high-potential
Asia markets, particularly in the area of specialty products. Total is already
present in India in LPG marketing, lubricants and specialty chemicals.
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Total is the fourth largest oil and gas company in the world with operations in
more than 120 countries. Total's activities cover the whole energy chain of the
petroleum industry: exploration, oil and gas production, refining and marketing,
trading and power generation. The Group is also a major player in chemicals
through its chemicals branch, Atofina. Total has 121,000 employees worldwide.
More information can be found on the company's website: www.total.com
This information is provided by RNS
The company news service from the London Stock Exchange
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