India’s major infrastructure developer Adani Group and French energy giant Total have announced a partnership to develop LNG import terminals and fuel retailing network in India to serve the fast growing gas demand in the country.
The two companies will jointly develop various regasification LNG terminals, including Dhamra LNG, on the east coast of India. Additionally, the two parties 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,” commented Patrick Pouyanné, chairman and CEO of Total.
At the end of August, Total sold its stake in Hazira LNG terminal in India to Shell. In the meantime, Total also signed an agreement to sell half a million tonne of LNG per year to Shell over the next five years for selling in India and neighboring countries.