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.