TotalEnergies (TTE) has not but signed a contract, introduced final yr, to increase its partnership with India’s Adani to the manufacturing of inexperienced hydrogen, the chief govt of the French oil main mentioned Wednesday.
Patrick Pouyanne instructed reporters the corporate was ready for the results of an audit launched by the Indian conglomerate in response to allegations of economic irregularities by Hindenburg Analysis.
“It was introduced, nothing was signed. It doesn’t exist,” Pouyanne mentioned, referring to the brand new hydrogen enterprise. “Mr Adani has different issues to take care of now, it’s simply good sense to pause issues whereas the audit goes ahead.”
Pouyanne mentioned TotalEnergies was “not in cost” of the monetary well being of Adani Group, with which it has plenty of joint ventures.
He mentioned the stakes held by TotalEnergies in Adani Whole Gasoline and Adani Inexperienced Power have been nonetheless value greater than when the French firm bought them.
“Adani Inexperienced continues to be value twice as a lot as we invested, Adani Gasoline continues to be value eight occasions extra. Our accounting is wholesome, there was due diligence earlier than and due diligence after,” he mentioned.
He added that Adani had not requested monetary help from TotalEnergies for current initiatives.
