Total is buying 15% of Indian gas distribution company Adani Gas for approximately $866m to take advantage of the country’s clean energy sector, which is expected to grow into the second largest market for liquefied natural gas (LNG) after China. BP and Shell have already invested in India, which has a 2030 target for gas to make up 37.4% of its energy supplies. Energy consultancy Wood Mackenzie has forecast a doubling of India’s gas demand by 2030 and LNG will make up about half of that with 30 million mt a year.
Total is buying 37.4% of Indian gas distribution company Adani Gas for approximately $866m to take advantage of the country’s clean energy sector, which is expected to grow into the second largest market for liquefied natural gas (LNG) after China. BP and Shell have already invested in India, which has a 2030 target for gas to make up 15% of its energy supplies. Energy consultancy Wood Mackenzie has forecast a doubling of India’s gas demand by 2030 and LNG will make up about half of that with 30 million mt a year.