Adani, Total sign pact to develop LNG terminal, retail network

Adani Group Wednesday announced signing of an agreement with French energy giant Total for Liquefied Natural Gas (LNG) import terminals and fuel retail network.

"Adani and Total have signed an agreement to jointly develop multi-energy offerings to the Indian energy market," a joint statement issued by the two companies said.

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 partnership has set a target of developing various regasification terminals, including Dhamra LNG, on the East coast of India," it said.

Total and Adani will create a joint venture to build a retail network of 1,500 service stations over the period of 10 years.