Paris [France], 2 June : India is becoming an increasingly important market for liquefied natural gas (LNG) and was ranked number four in the world in 2024, said Patrick Pouyanne, Chairman and CEO of TotalEnergies.
He made these remarks during an exclusive conversation within Paris, France.
Pouyanne shared insights into the French energy giant's expanding presence in India, highlighting that TotalEnergies has invested nearly USD 5 billion in the country over the last five years.
He said, "India is becoming an important market for LNG, number four in the world in 2024. So developing this gas for us, finding customers, long-term customers in India is good".
These investments span across gas, natural gas imports, city gas distribution, development of gas infrastructure, as well as renewable energy projects such as solar and wind.
"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. We invest a lot in solar and wind in India," Pouyanne said.
Responding to a question about the progress on the MoU signed during India Energy Week with GSPC (Gujarat State Petroleum Corporation) venture in India, Pouyanne said, "It's going very well. We have signed some contracts in the last year for providing energy to India. GSPC is one, IOCL is another. These are long-term, 10-year contracts."
He added that the MoU would be converted into a Sales and Purchase Framework (SPF) soon, marking a significant step in strengthening the LNG supply chain to India.
He also spoke about his meeting with Union Commerce Minister Piyush Goyal, who encouraged the company to expand its operations further in India.
He said, "We discussed TotalEnergies' investments in India....And so we discussed 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".
The meeting took place in Paris during Goyal's official visit to France, which is part of his ongoing trip to France and Italy from June 1 to 5.
Goyal is also scheduled to meet with key French ministers, including Minister of Economy Eric Lombard and Trade Minister Laurent Saint-Martin.
The developments highlight India's growing role in the global energy market and its strong partnership with global energy players like TotalEnergies.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor