Adani and Total have signed an agreement to jointly develop multi-energy offerings to the Indian energy market. The diversified portfolio includes Liquefied Natural Gas (LNG) and Fuel Retail.
This strategic partnership between Total and Adani Group will, therefore, allow creating:
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 partnership has set a target of developing various regasification terminals including Dhamra LNG, on the East coast of India. Most essentially it would be a big stride towards India’s vision of achieving a healthier energy mix through the promotion of LNG.
A 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.
Speaking on the occasion, Adani Group Chairman, Mr. Gautam Adani, said, “I am delighted to partner with Total, one of the biggest energy companies in the world. The collaboration enables us to associate with Total’s century-old legacy, global presence, scale and unparalleled go-to-market expertise.
The global synergy between the two groups presents widespread benefits and long-term value for the economy and the people of India. We are looking forward to this opportunity to touch millions of lives by leveraging our collective footprints and domain expertise in the energy sector.
It also enables the Adani Group to be part of the country’s vision in adopting cleaner energy.”
Patrick Pouyanné, Chairman and CEO, Total said “India’s energy consumption will grow among the fastest of all major economies in the world over the next decade. The partnership between Total and the private Adani Group illustrates our joint commitment to assisting India to diversify its energy mix and to ensure a supply of reliable, affordable and clean energy to consumers. We are thrilled to build this broad partnership with the Adani Group, benefitting from its in-depth knowledge of the Indian infrastructure and energy market, as well as its access to infrastructures through a significant footprint in several of the country’s key ports,” of Total.
Source: Maritime Shipping News