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. Adani Group is an Indian private conglomerate active in 50 countries and specialised 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 and a new retail network of 1,500 service stations.
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.
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 line-up of fuels, lubricants, as well as a broad range of other products and services.
“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,” outlined Patrick Pouyanné, chairman and CEO of Total.
“We are thrilled to build this broad partnership with the Adani Group, benefitting from its in-depth knowledge of the Indian energy market, as well as its access to infrastructures through a significant footprint in several of the country’s key ports.”
Speaking on the occasion, Gautam Adani, Adani Group chairman, 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 Adani Group to be part of the country’s vision in adopting cleaner energy.”
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