TOTAL joins Adani to create India’s premier integrated gas utility

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Bhubaneswar: : Adani and TOTAL have signed definitive agreements to deepen their existing partnership and commitment for developing multi-energy offerings to the Indian energy market.
City Gas Distribution is a natural extension of the plans of both partners to
invest in infrastructure and assets worth over US$1 billion, which span Liquefied
Natural Gas (LNG) infrastructure and marketing and fuel retail business,
announced in October 2018.

This demonstrates both partners’ commitment to this important partnership and
confidence in Adani Gas as the leading gas distribution player and commitment
to the Government’s vision to provide benefits of piped natural gas and CNG to
70% populations of the country.

Transaction Details
Total will purchase 37.4% shares in Adani Gas Limited through a tender offer to
public shareholders to acquire up to 25.2% shares subject to applicable
regulations and purchase the residual shares from Adani Family.
Adani Family and TOTAL SA shareholders shall ultimately hold 37.4% each and
public shareholders shall hold remaining 25.2%.
The partnership and equity support from the partners will help Adani Gas
Limited accelerate project executions in all its new geographical areas.
Adani Gas shall also pursue fuel retail business in India and target to setup 1,500
fuel stations offering top of the line products in the coming years.
This strategic partnership expansion will create:
Among the Largest Downstream Energy businesses in India
Adani, the largest infrastructure conglomerate in India, and TOTAL, the world’s
second largest LNG private player, will serve the fast growing gas demand of the
Indian market.
The expanded partnership will develop regasification terminals including
Dhamra LNG, on the East coast of India; market LNG to the Indian markets and
through Adani Gas, target to distribute gas to 7.5% of India’s population. This
strengthens the partners’ commitment to make big stride towards India’s vision
of promotion of natural gas and clean energy mix.
Multi-Billion Dollar Commitment to a Pan India Platform integrated Gas utility
Both partners would make significant investments in the next 10 years across
the businesses to develop India’s gas infrastructure, distribution, marketing
businesses with presence in over 15 states reaching out to approximately 7.5%
of India’s population and setting up global scale and world class LNG, gas
distribution and fuel retail infrastructure in India
Complementary Portfolio of Fuel Retail and Gas Distribution Network
As part of the existing Joint Venture, Adani and Total in the coming years will
target to build a fuel retail network of 1,500 retail stations, on the main roads of
the country, such as highways and intercity connections.
Adani Gas will also be setting up 1,500 CNG stations for gas distribution over
the next 10 years in its and its joint ventures’ geographical areas across 71
districts, 68 towns across 15 states in India.
In addition, Adani Gas and its joint venture will distribute gas to 6 million
households in the next decade. Adani Gas CNG network will be developed
exploring synergies including co-location of fuel retail and CNG outlets.
Both businesses would have significant complementarities by providing unique
portfolio of multi product services including gas where Adani Gas Limited has
exclusive marketing rights. These offerings are in line with international
standards that will also include Total’s product range.
Speaking on the occasion, Adani Group Chairman, Mr. Gautam Adani,
said, “Adani is delighted to deepen its strategic partnership with Total, a global
energy major, to one of the largest downstream gas partnerships in India. Total’s
investment in Adani Gas reinforces India’s natural gas and demand potential.
The partnership will derive significant synergies between Adani’s capabilities of
developing world-class assets and Total’s global best practices as well as
leveraging business synergies across LNG, Fuel Retail and City Gas distribution.
We look forward to working together towards delivering India’s vision for clean
and green energy

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