
HELLENIC PETROLEUM (ELPE) group entered into a strategic agreement with VLPG Plant Ltd. for the distribution of LPG products in the Cypriot market.
As announced, on June 2, 2021, the two sides signed a contract for the accession of the HELLENIC PETROLEUM Group to the share capital of VLPG Plant Ltd. at a rate of 32%.
The agreement is subject to the approval of the Competition Protection Committee.
The VLPG Ltd. consortium already includes Petrolina (Holdings) Public Ltd, Synergas Ltd, and Intergaz Ltd.
The activities of VLPG Plant Ltd include all phases of LPG handling, with privately owned tank unloading facilities, storage and distribution to the market through LPG tankers.
The consortium will also manage the bottling and maintenance of LPG cylinders available from marketing companies.
VLPG Plant Ltd. has undertaken the construction of the state-of-the-art LPG plant in Vasiliko, which with its expansion is expected to manage approximately 32,000 metric tons of bulk LPG and approximately 24,000 metric tons of bottled LPG on an annual basis. Construction projects are expected to be completed in the last quarter of 2021.


Latest News

Eurostat: Women and Youth Most Underpaid in Greece
In the EU 18.2% of women are low-paid compared to men, against 23% in Greece. A staggering 43% of young Greeks are low-paid—the second-worst rate in Europe.

Public Services in Greece to Go Under Review with New Rating Tool
Public services will receive their evaluation scores and feedback directly, fostering a system of accountability and continuous improvement.

Istanbul Earthquake – Greek Prof. Concerned Major Quake Yet to Strike
Responding to concerns over whether a potential major quake in Istanbul could affect Greece, Papazachos was reassuring: “The fault extends as far as Lemnos and the Northern Sporades, but it doesn’t rupture all at once. An earthquake in Istanbul doesn’t have the capacity to directly affect Greek territory.”

Greece 4th Most Popular Summer Destination for Europeans
Southern Europe remains the top choice for Europeans at 41%, though down 8% from last year, likely due to rising temperatures and climate concerns.

Easter Sales Performance and the Source of €4–5 Million in Losses
Easter retail sales were relatively weak this year, with the only "real winners" being the livestock farmers who had lambs to sell.

Hotel Foreclosures Continue to Plague Greece’s Islands
A surge in hotel foreclosures across Greece’s islands threatens small tourism businesses, despite booming visitor numbers and record-breaking travel in 2024.

Athens Launches Task Force to Safeguard Historic City Center
The new municipal unit will ensure compliance to zoning laws, curb noise, and address tourist rental issues starting from the Plaka district.

WTTC: Travel & Tourism to Create 4.5M New Jobs in EU by 2035
This year, international visitor spending is set to reach 573 billion euros, up by more than 11% year-on-year

IMF: US Tariffs Shake Global Economy, Outlook Downbeat
IMF slashes global growth forecast to 2.8% as U.S. tariffs create uncertainty and ‘negative supply shock

First Step Towards New Audiovisual Industry Hub in Drama
The project is set to contribute to the further development of Greece’s film industry and establish Drama as an audiovisual hub in the region