Total and Adani Group have signed an agreement to jointly develop multi energy initiatives to the Indian energy market, focused on LNG and fuel retail.
The strategic partnership between Total and Adani Group, a private Indian conglomerate, will create a number of opportunities. 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.
“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 energy market, as well as its access to infrastructures through a significant footprint in several of the country’s key ports,” outlined Patrick Pouyanné, Chairman and CEO of Total.
Adani Group Chairman, Gautam Adani, said, “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.”