Energy Giant Total Acquires Stake in Adani Group
France-based energy giant Total is eyeing to acquire half of the stake of Adani Group in LNG projects in Gujarat and Odisha. Along with this, the company will also purchase stake in an under-construction LPG import facility and in its city gas projects.
Total seems to be showing interest on investing in fast growing gas market in India and finds Adani as a suitable vehicle since it owns crucial downstream infrastructure.
The company is in talks to acquire 50 percent stake in the under-construction LPG import terminal that Adani is building at Mundra in Gujarat as well as a stake in Adani’s flourishing city gas distribution projects.
India is looking forward to increasing the share of natural gas in its energy basket to 15 percent in the next few years. Along with this, the country...