Total to buy 37% stake in Adani Gas for $600 mn to expand India footprint

The deal will give Total access to India's natural gas market and support its drive to become one of the world's top LNG players

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 per cent stake in India’s Adani Gas Ltd., a distributor of the fuel that is developing import terminals and a national chain of vehicle-filling outlets. Total said in a statement that the acquisition will cost about $600 million taking into account its divestment in another Indian LNG terminal earlier this year.

The deal will give Total access to India’s natural gas market and support its drive to become one of the