Total SA In Expansion: $600 million For India's Adani Gas

[rainman + 263]

French energy giant Total SA is spending $600 million to expand its presence in one of the world’s fastest-growing natural gas markets. Total agreed to purchase a 37.4% stake in India’s Adani Gas Ltd., a distributor of the fuel that’s developing import terminals and a national chain of vehicle-filling outlets. The deal gives the French company a footprint in a market where annual liquefied natural gas demand will hit 28 million tons by 2023, making it the fourth-biggest importer of the fuel, according to BloombergNEF. Total is the latest energy major seeking to expand in India, where population growth and economic development are luring some of the biggest oil and gas producers. In August, Reliance Industries Ltd. said Saudi Arabian Oil Co. may buy 20% of its oil-to-chemicals business at an enterprise value of $75 billion.

[joze44 + 39]

Good job. Total is the third foreign oil major to enter India's gas sector after BP Plc and Shell...

[damirUSBiH + 327]

No doubt, India is becoming an important market at this field .. According to their official projection in the next few years they expect to see $ 118 bn investment in India's oil, gas sector ...

 

https://economictimes.indiatimes.com/industry/energy/oil-gas/india-to-see-118-bn-investment-in-oil-gas-sector-in-next-few-years-pradhan/articleshow/71579729.cms

[50 shades of black + 254]

4 minutes ago, damirUSBiH said:

No doubt, India is becoming an important market at this field .. According to their official projection in the next few years they expect to see $ 118 bn investment in India's oil, gas sector ...

 

https://economictimes.indiatimes.com/industry/energy/oil-gas/india-to-see-118-bn-investment-in-oil-gas-sector-in-next-few-years-pradhan/articleshow/71579729.cms

And don't forget, Aramco showed interest in buying BPCL 25 % stakes..

[pinto + 293]

Definitely India government wants to split the business and sell it for value unlocking completely .... So, logically because it's too difficult for any company to come and buy if the government controls and runs the company.

[Pavel + 384]

Of course, China is already there ... political and economic interests. Between. China and India are the world's second and third largest crude oil importer ...

[BALBOA + 37]

Saudi Aramco, ADNOC, BP, Shell, Total, Rosneft and ExxonMobil and their presence in India are the best evidence of a potentially very, very profitable market. Promising growth story about India.

[Ward Smith + 6,615]

Given how up to 40% of Indian electricity is stolen, I'm not sure I'd want to be distributing natural gas there. I've seen those idiots climb poles to jack the power, and let me say OSHA would be having kittens. Not only do they directly steal the power by bypassing the meter, they also simply ignore the bills if they do have a meter.