Adani Gas Ltd has stated in a filing to the stock exchange that Adani Total Gas Ltd (ATGL) and Jio-BP have entered into a strategic partnership to jointly retail petrol, diesel and CNG across select fuel outlets belonging to each other.
According to the deal, select Adani Total fuel stations will retail Jio-BP’s petrol and diesel, while select Jio-BP outlets will host Adani Total CNG dispensing units within Adani Total’s authorised geographical areas.
Adani Total Gas Ltd, which is a joint venture between the Adani Group and TotalEnergies of France, is a leading city gas distribution company which supplies natural gas to households, commercial establishments and industries, while also retailing gas to motorists.
Adani Total’s business portfolio also involves compressed biogas, electric vehicle charging solutions and LNG for the transportation sector.
Jio-BP, which is a joint venture between Reliance Industries Limited and British Petroleum (BP), has a strong network in fuel retailing, alternative low-carbon energy products as well as convenience stores.
Jio-BP Chairman Sarthak Behuria said: “The two companies are united by a common vision to offer customers high-quality fuels. This partnership allows us to leverage each other’s strengths to further enhance the value we provide to India”.
Adani Total’s Executive Director and CEO Suresh P Manglani said, “It is our shared vision to provide a complete range of high-quality fuels at our outlets. This partnership will enable us to leverage each other’s infrastructure, thus enhancing customer experience and offerings.”
The partnership between the two companies will span both existing and forthcoming retail fuel outlets of the two companies. Presently, Adani Total operates around 650 CNG stations, while Jio-BP runs a retail network of nearly 2,000 fuel stations.
Adani Total holds authorisation to supply PNG and CNG in 34 geographical areas, while its joint venture with Indian Oil, namely IOAGPL, is authorised to do so in another 19 geographical areas across India.
The company’s total reach is 53 geographical areas across 125 districts of India. Adani Total has also set up subsidiaries for biomass and electric mobility businesses.