Adani and Total on Wednesday announced that they have signed an agreement to jointly develop multi-energy offerings for the Indian market, adding that the diversified portfolio will include LNG and fuel retail.
“Total, the world’s second largest LNG private player, and Adani will serve the fast-growing gas demand of the Indian market,” the companies said in a joint statement.
“The partnership has set a target of developing various regasification terminals, including Dhamra LNG, on the east coast of India,” the statement added.
1,500 service stations
The companies announced that they would set up a joint venture with the objective of building a retail network of 1,500 service stations over 10 years, on India’s main roads, such as highways and intercity connections, “to take advantage of a market growing at 4% per year.” These new service stations will offer customers Total’s full line-up of fuels, lubricants, as well as a broad range of other products and services, they added.
“The global synergy between the two groups presents widespread benefits and long-term value for the economy and the people of India,” said Gautam Adani, chairman, Adani Group.
“India’s energy consumption will grow among the fastest of all major economies in the world over the next decade,” said Patrick Pouyanné, chairman and CEO, Total.
