Total Joins Forces With Indian Private Adani Group to Expand in Natural Gas And Fuel Retail Activities in India
October 17 2018 - 2:30AM
Business Wire
Regulatory News:
Total (Paris:FP) (LSE:TTA) (NYSE:TOT) 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. The Adani Group is an Indian private
conglomerate active in 50 countries and specialized 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
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.
- A new retail network of 1,500
service-stations
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 lineup 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. 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.
Speaking on the occasion, Adani Group Chairman, Mr. Gautam
Adani, 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 the Adani Group to be part of the
country’s vision in adopting cleaner energy.”
About Adani:
Headquartered in Ahmedabad, India, Adani Group is one of India’s
largest integrated infrastructure conglomerates with interests in
Resources, Logistics, Energy, and Agro, Real Estate, Public
Transport Infrastructure, Finance and Defense. Adani owes its
success and leadership position to its core philosophy of ‘Nation
Building’. The Group is committed to protecting the environment and
improving communities through its CSR program based on the
principles of sustainability, diversity and shared values.
About Total:
Total is a global integrated energy producer and provider, a
leading international oil and gas company, a major player in
low-carbon energies. Our 98,000 employees are committed to better
energy that is safer, cleaner, more efficient, more innovative and
accessible to as many people as possible. As a responsible
corporate citizen, we focus on ensuring that our operations in more
than 130 countries worldwide consistently deliver economic, social
and environmental benefits.
* * *
Cautionary note
This press release, from which no legal consequences may be
drawn, is for information purposes only. The entities in which
TOTAL S.A. directly or indirectly owns investments are separate
legal entities. TOTAL S.A. has no liability for their acts or
omissions. In this document, the terms “Total” and “Total Group”
are sometimes used for convenience where general references are
made to TOTAL S.A. and/or its subsidiaries. Likewise, the words
“we”, “us” and “our” may also be used to refer to subsidiaries in
general or to those who work for them.This document may contain
forward-looking information and statements that are based on a
number of economic data and assumptions made in a given economic,
competitive and regulatory environment. They may prove to be
inaccurate in the future and are subject to a number of risk
factors. Neither TOTAL S.A. nor any of its subsidiaries assumes any
obligation to update publicly any forward-looking information or
statement, objectives or trends contained in this document whether
as a result of new information, future events or otherwise.
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