French oil and gas company Total SA plans to invest in expanding LPG infrastructure in India, including boosting storage capacity, import terminals and distribution network, its CEO Patrick Pouyanne said today.
The firm sells lubricants and LPG in India. It had in 1998 commissioned a fully integrated LPG import terminal at Mangalore. It also has a minority stake in LNG import terminal at Hazira in Gujarat.
Pouyanne, who met Oil Minister Dharmendra Pradhan, said India's growing energy market, especially LPG, LNG and renewables, were attractive for investments for Total.
"Met the Chairman & CEO, @Total S.A., Mr.Patrick Pouyanne and his team. Assured to extend all possible support," Pradhan tweeted.
He said he encouraged Total to invest in infrastructure, gas pipelines, LNG terminals and petrochemicals business in India.
"Welcomed the valuable partnership between @Total & our #OMCs in the areas of LPG, LNG, Gas infrastructure & renewable energies," he said in another tweet.
Asked if Total would be interested in fuel retailing in India, Pouyanne indicated the French company would not in any near future start selling petrol and diesel here.
"You already have big companies here... We look for profitable markets... We will see one day and when we will be ready, we will come to you," he said.
The liquefied natural gas (LNG), however, is a good market in India. "We are already in Hazira. We are trying to see if we can expand," he said, adding that there are "plenty of terminals" in Gujarat.
Besides the 5 million tonnes a year Hazira import facility, Petronet LNG Ltd operates a 15 MT terminal at Dahej and Gujarat State Petroleum Corp (GSPC) is building a 5 MT terminal at Mundra in the state.
There are "too many (LNG terminals) in Gujarat," he said.
Royal Dutch Shell owns 74 per cent stake in Hazira LNG terminal while Total has the remaining 26 per cent.
"India is a growing market - LPG, LNG and even renewables as well," he said. "We are looking at expanding in LPG -- LPG plants, networks, we already have a (LPG) cavern (and are looking at) expanding storage capacity, import terminals -- all the infrastructure that is necessary to expand the LPG business."
He however did not give investment details saying "we have some plans".
"We are already importing LPG...We are also a big trading company," he said.
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