NEW DELHI: French oil and gas major Total SA on Monday announced buying a little over 37% stake in Adani Gas Ltd, the Gujarat-based Adani Group arm that sells natural gas as automotive and kitchen fuel, for an estimated Rs 5,700 crore. This is the third instance in recent times of a foreign energy major piggybacking an Indian entity to establish a footprint in India, currently the fastest-growing fuel retail market in the world. The Total-Adani deal follows BP and Reliance Industries forming a joint venture for fuel retail and Saudi Aramco acquiring a 20% stake in RIL\u2019s refinery and petrochemicals business for an enterprise value of $75 billion.
\nTotal and the Adani Group had in October last year announced a partnership for foraying into the growing fuel retail market and setting up infrastructure for importing gas in ships, or LNG (liquefied natural gas). This partnership followed Total\u2019s exit from a joint venture with Royal Dutch Shell in a 5 million tonne LNG import terminal at Hazira in Gujarat.<\/p>\n","protected":false},"excerpt":{"rendered":"
NEW DELHI: French oil and gas major Total SA on Monday announced buying a little over 37% stake in Adani Gas Ltd, the Gujarat-based Adani Group arm that sells natural gas as automotive and kitchen fuel, for an estimated Rs 5,700 crore. This is the third instance in recent times of a foreign energy major piggybacking an Indian entity to establish a footprint in India, currently the fastest-growing fuel retail market in the world. The Total-Adani deal follows BP and Reliance Industries forming a joint venture for fuel retail and Saudi Aramco acquiring a 20% stake in RIL\u2019s refinery and […]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,219,137],"tags":[],"class_list":["post-296254","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-times-of-india","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/296254","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=296254"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/296254\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=296254"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=296254"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=296254"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}