India Rises as LNG Powerhouse: TotalEnergies Invests $5 Billion

India's burgeoning influence in the global liquefied natural gas (LNG) market has been underscored by TotalEnergies' significant investments in the country. According to Patrick Pouyanne, Chairman and CEO of TotalEnergies, India is projected to rank fourth globally in LNG usage by 2024, highlighting its critical role on the world stage.

In an exclusive conversation with ANI in Paris, Pouyanne revealed that TotalEnergies has channeled nearly USD 5 billion into Indian ventures over the past five years. These investments cover a spectrum of sectors, including natural gas imports, city gas distribution, and the development of gas infrastructure, as well as renewable projects like solar and wind energy.

Pouyanne also mentioned progress on the Memorandum of Understanding (MoU) with Gujarat State Petroleum Corporation (GSPC), indicating smooth progress towards solidifying long-term energy contracts. His meeting with Union Commerce Minister Piyush Goyal further emphasized India's strategic partnership with TotalEnergies, aiming for deeper market penetration and collaborative growth.

(With inputs from agencies.)