Adani Total Gas: Commercial gas distribution company Adani Total Gas Limited is betting on LNG for growth. The company has adopted this strategy amid the government’s gas policy to rapidly promote LNG and initiatives to control greenhouse gas (GHG) emissions. On Friday, the price of shares of Adani Total Gas was Rs 1006.55 on BSE.
During the last 6 months, Adani Total Gas prices have increased by more than 50 per cent. After the Hindenburg report came out, there was a huge fall in the company’s shares. But in the last 6 months, the stock has been on the path of recovery.
A senior company official said that Adani Total Gas Limited (ATGL) aims to promote LNG as the primary fuel for long-haul commercial vehicles instead of diesel. Strategic alliances are formed with stakeholders like auto sector companies, original equipment manufacturers (OEMs), operators and retro fitment companies.
Suresh P Mangalani, CEO of Adani Total Gas Limited, said, “The biggest challenge of LNG is distribution. We currently have only a handful of LNG distribution stations, which is the real challenge. Operators are not ready to move in this direction until the distribution network is ready. On the other hand, petroleum marketing companies (OMCs) are not expanding the number of LNG outlets.”
He said the company is working closely with all stakeholders to promote this green fuel rapidly. ATGL has signed MoUs with alternative fuel systems manufacturers Shigen, Cryogenic Liquid Storage, Inox CVA and Adani Cement in the last two months. The company said it will forge more such partnerships in the coming months.
