The Commission for the Protection of Competition (CPC) has initiated a probe into the proposed formation of a new corporation, which it says raises concerns over the creation of a monopoly in the liquefied petroleum gas (LPG) market.
On December 2, 2016, the CPC received a notification of a proposed joint venture by the companies Hellenic Petroleum Cyprus Ltd, Petrolina Holdings (Public) Ltd, Synergas Cooperative Society and Intergaz Ltd.
The joint venture, Vlpg Plant Ltd, will engage in the construction and operation of the installation, storage and management of LPG on an industrial site within the Vassilikos industrial zone that will be rented from the state.
