Adani, Total partner to expand LNG biz

The partnership will develop various regasification terminals in India, and also build retail fuel stations along main roads across the country.

Total is the second largest private LNG company, globally. With Total, Adani will first develop the Dhamra LNG regasification terminal, situated on the East coast of India. The two companies aim to become a formidable integrated downstream energy player in Indian market. This collaboration will ride the clean energy wave and tap the ever increasing demand for LNG gas in the domestic market.

Adani-Total plan to create a JV and roll out 1,500 fuel service stations across major roadway and highways in phased manner over a period of 10 years. These station will offer Total’s fuels and lubricants products.

Earlier, there was buzz in the market that Total tends to buy considerable stakes in Adani's gas terminals. The French energy major may also buy stakes in Adani's city gas distribution business.

Meanwhile, the stock of Adani Enterprise was quoting Rs. 158.45 per share, up marginally by 0.38 per cent at 11:00 hours, when the benchmark index BSE Sensex was at 35,328.52, up by 166.04 points or 0.47 per cent on Wednesday.