Adani Total Gas Ltd.

Adani Total Gas Ltd., a publicly listed joint venture between the Adani Group and TotalEnergies, operates as a city gas distribution company in India, building and operating gas pipeline networks that deliver compressed natural gas (CNG) for vehicles and piped natural gas (PNG) to residential, commercial and industrial customers. Its business model combines infrastructure investments in local distribution networks and CNG refuelling stations with the sale and marketing of natural gas, under licences awarded for specific geographical areas and subject to India’s regulatory framework for gas distribution. The company’s revenue streams come mainly from gas sales volumes and network-fee based receipts as it expands connections and throughput across urban and industrial centres.