France’s Total drops out of HPCL’s second LPG cavern project


France’s Total drops out of HPCL’s second LPG cavern project

State-run Hindustan Petroleum Corp. Ltd (HPCL) will go solo in building its second liquefied petroleum gas (LPG) cavern in Mangalore, Karnataka. HPCL, which was in talks with France’s national oil company Total SA to partner in building an underground LPG storage facility, said the French multinational has dropped out of the project but did not provide a reason for the same.

Total SA is HPCL’s partner in the first LPG cavern in Visakhapatnam, Andhra Pradesh. “We will be building the LPG cavern on our own. Our board has approved the project,” said MK Surana, chairman and managing director, HPCL. He was speaking at the company’s annual general meeting.

The cavern will be the second such facility in India and will cost ₹800 crore for 80,000 metric tonne capacity. HPCL already has an LPG import facility in Mangalore. Read More

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