According to the statement, this cooperation includes LNG and fuel retail. The Adani Group is an Indian private conglomerate that is active in 50 countries, and which specialises in commodities trading, port infrastructures and logistics, as well as energy production and distribution.
Total claims that this strategic partnership will therefore enable the creation of the following:
A major footprint in the LNG business
Both parties will serve India’s growing demand for gas. The companies will jointly develop various regasification LNG terminals, including Dhamra LNG, on the East coast of India.
A new retail network of 1500 service stations
Total and Adani will establish a joint venture with the aim of constructing a retail network of 1500 service stations over a 10-year period. The stations will be built on the main roads of the country, such as highways and intercity connections in order 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 lineup of fuels, lubricants, as well as a broad range of other products and services.
Patrick Pouyanné, Chairman and CEO of Total, said: “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.”
Adani Group Chairman, Gautam Adani, added: “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 the Adani Group to be part of the country’s vision in adopting cleaner energy.”
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/17102018/total-and-adani-group-to-collaborate-on-natural-gas-and-fuel-retail-activities-in-india/