Adani Total Gas secures a 20% increase in APM gas allocation, set to take effect from January.

CNBC-TV18 reported that Adani Total Gas, a joint venture between Adani Group and TotalEnergies, has received a 20% increase in allocated gas from the PNG (Piped Natural Gas) and NTPC (National Thermal Power Corporation) fields, effective January 2023. This surge in allocation is significant, as it will enable Adani Total Gas to strengthen its market share in the Indian city gas market. The increased allocation is expected to bolster the company’s position as a leading player in the city gas market, providing cleaner and more affordable fuel to Indian households and industries. The additional gas allocation is also expected to support Adani Total Gas’s expansion plans, particularly in the pipeline, LPG, and industrial gas segments. This news is expected to benefit the company’s financials, as it aims to expand its presence in the domestic gas market, particularly in the cooking gas and industrial segments. The Adani-TotalEnergies joint venture aims to cater to a significant portion of India’s demand for gas, particularly in the city gas and commercial segments.