Total eyeing LNG terminal stakes in India

Total eyeing LNG terminal stakes in IndiaImage courtesy of Total

Total of France started talks to capture a stake in liquefied natural gas import facilities in India. 

The company’s chairman and CEO Patrick Pouyanne said Total is actually engaged in talks with several parties to buy stakes in LNG import terminals, Platts reports.

The report follows that of Press Trust of India reporting that Total is targeting a stake in Adani’s LNG projects in Gujarat and Odisha, as well as in the LPG import facility currently under construction.

Total is reportedly looking at buying 50 percent of Adani’s stake in each of the Mundra and Dhamra LNG import facilities.

Pouyanne did not confirm the names of the parties Total is in talks with but did say that the company is looking to provide Indian customers with LNG from its global portfolio.

With its acquisition of Engie’s upstream liquefied natural gas (LNG) assets in July, its portfolio will include a total volume of LNG managed of 40 mt/year and a liquefaction capacity portfolio of 23 mt/year, by 2020.

It will also include a worldwide LNG trading contracts portfolio of 28 mT/year and will make Total a key European market supplier with regasification capacities of 18 mt/year.

 

LNG World News Staff

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Posted on October 16, 2018 with tags .

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