Oct. 17 (UPI) -- Oil major Total has teamed up with the Indian conglomerate Adani to jointly develop liquefied natural gas terminals, as well as build 1,500 service stations in India.
"The companies will jointly develop various LNG terminals, including Dhamra LNG, on the East Coast of India," Total said. The companies will build the 1,500-service-station network over a decade.
The stations will be built along highways and major roads "to take advantage of a market growing at 4 percent per year driven by the development of road infrastructures and the emergence of the middle class," Total said.
Total will benefit from Adani's "in-depth knowledge of the Indian energy market, as well as its access to infrastructures through a significant footprint in several of the country's key ports," said Patrick Pouyanné, CEO of Total.
"The global synergy between the two groups presents widespread benefits," said Gautam Adani, chairman of the Indian group.
Adani, with headquarters in Ahmedabad, operates in multiple industries ranging from agriculture and defense to public transportation. It is active in 50 countries and specializes in commodities trading, port infrastructure and logistics.
As for Paris-based Total, it operates in 130 countries and focuses on oil and gas production, refining, petrochemicals and marketing.
Adani, which has operated since 1988, has about $11 billion in annual revenue. The company is also the biggest private thermal power producer in India.