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TotalEnergies plans to boost LNG sales from US to India, says CEO
French energy giant TotalEnergies said it plans to increase LNG sales from the US to India and has invested about USD 5 billion in India over the past five years.
TotalEnergies Chairman and Chief Executive Officer Patrick Pouyanne also informed that the company has invested a lot in solar and wind in India, particularly with Adani.
"Future plans are to continue to develop energy business, of course, to sell more LNG, in particular, from the US. We are the largest US LNG energy exporter...so we can bring more. We also have a big venture in Mozambique with Indian companies. We will intend to restart very soon to provide energy to India. So, that's also a plan.
"And then on the renewable side, we continue to support the expansion of Adani Green, which has already a 14 Gigawatt of capacity. So, we will continue to support this growth," he told reporters here after meeting Commerce and Industry Minister Piyush Goyal on June 1.
He was replying to a question on what are the company's future plans for India.
Goyal is here on an official visit to meet French leaders and businesses to boost trade and investments between the two countries.
Last year in November, TotalEnergies SE had said that it would make no new financial contribution as part of its investments in Adani group companies till the Indian firm's founder is cleared of bribery charges.
In his meeting with the minister, Pouyanne said that he discussed investments of the company in India.
"We have invested almost USD 5 billion in the last five years, in particular in gas, natural gas, importing energy, city gas, development of gas infrastructure in India, as well as renewables," he said.
"We invest a lot in solar and wind in India, with Adani in particular. And so we discussed about our plans, what we've done and what we intend to do for the future. And of course, Mr. Goyal encouraged me to do more in India." He added that India is becoming an important market for LNG, number four in the world in 2024.
"So for us, finding customers, long-term customers in India is good," he added.
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