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Project Insights

Total bets on Indian gas demand with Adani stake

The French major’s acquisition will give it access to two LNG terminals in India, one of which could also supply Bangladesh The French major’s acquisition will give it access to two LNG terminals in India, one of which could also supply Bangladesh.
By Damon Evans 14 October 2019 Asia Pacific / LNG 0 34675
The Hazira LNG terminal in Gujarat. (Hazira LNG terminal & port)

Total’s purchase of a major stake in Adani Gas, India’s largest private city gas distributor, shows it has confidence in the growth of the Indian gas market. As part of the deal, the French major also agreed a partnership with the distributor’s parent, Adani Group, that covers two LNG terminals in India with a combined capacity of 10 mtpa. 

The $600 million acquisition marks the largest ever foreign direct investment in India’s city gas distribution sector. Total’s 37.4% stake will give it joint control of Adani...