The FINANCIAL — Total and Adani Group have signed an agreement to jointly develop multi energy offers to the Indian energy market. This cooperation includes Liquefied Natural Gas (LNG) and Fuel Retail.
The Adani Group is an Indian private conglomerate active in 50 countries and specialized in commodities trading, port infrastructures and logistics, as well as energy production and distribution.
This strategic partnership between Total and Adani Group will therefore allow to create:
A major footprint in LNG business
Total, the world’s second largest LNG private player, and Adani, the largest infrastructure conglomerate in India, will serve the fast growing gas demand of the Indian market. The companies will jointly develop various regasification LNG terminals, including Dhamra LNG, on the East coast of India.
A new retail network of 1,500 service-stations
Total and Adani will create a Joint Venture with an objective to build a retail network of 1,500 service stations over the period of 10 years, on the main roads of the country, such as highways and intercity connections to take advantage of a market growing at 4% per year driven by the development of road infrastructures and the emergence of middle class, which has been open to private investors since 2014. These new service stations, in line with international standards, will offer Indian customers Total’s full lineup of fuels, lubricants, as well as a broad range of other products and services.