Total has signed an agreement with infrastructure firm Adani Group for the joint development of multi-energy operations to serve the Indian market.
The latest cooperation between the companies includes liquefied natural gas (LNG) and fuel retail.
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Under the partnership, Total and Adani will develop various regasification LNG terminals, including Dhamra LNG on East coast, serving the fast-growing gas demand of the Indian market.
Total chairman and CEO Patrick Pouyanné said: “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.”
Additionally, over a period of ten years, the companies will build a retail network of 1,500 service stations through the creation of a joint venture.
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By GlobalDataThis would help to take advantage of a market experiencing growth of 4% a year.
The new service stations are set to provide Total’s complete range of fuels, lubricants, in addition to a broad range of other products and services to Indian customers.
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.
“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.”
