Adani Group is exploring a potential acquisition of Dutch energy storage company VTTI in a deal that could value the business at around €3 billion ($3.4 billion). The reported move could strengthen the Indian conglomerate’s global energy infrastructure footprint as supply disruptions increase the strategic value of fuel and chemical storage facilities.
According to reports citing people familiar with the discussions, Adani is among several potential buyers evaluating the Rotterdam-based company. However, deliberations are ongoing, and there is no certainty that a transaction will take place.
VTTI’s Global Energy Storage Network
VTTI operates a global network of terminals used to store fuels and chemicals, including fossil fuels, biofuels and solvents. These facilities support energy trading and the movement of commodities across international supply chains.
As disruptions affect energy supplies and trade routes, storage terminals are becoming increasingly valuable. They allow companies to store and manage commodities before distribution, making them important links between ports, traders and industrial consumers.
Who Owns VTTI?
VTTI is currently owned by Australian infrastructure investor IFM Investors and global energy and commodities company Vitol, which each hold approximately 45% stakes. Abu Dhabi National Oil Company (ADNOC) owns the remaining 10%.
ADNOC is reportedly considering a complete exit from VTTI, while the other shareholders may also look to reduce their stakes as part of a potential transaction. Other prospective buyers are also evaluating the business, making the outcome uncertain.
Adani’s Overseas Expansion Strategy
The potential VTTI acquisition would fit into Adani Group’s broader efforts to expand its international infrastructure portfolio. The conglomerate has interests across ports, airports, roads, data centres, mining and defence.
Adani has also reportedly explored acquiring a stake in Associated British Ports, the UK’s largest port operator. However, IFM Investors ultimately secured that deal, which valued the business at around £10 billion ($13.4 billion).
In July 2026, Adani Enterprises, the group’s listed flagship company, raised ₹15,000 crore from institutional investors to support capital expenditure and possible debt repayment. The financing details of any potential VTTI acquisition have not been disclosed.
What the Potential Deal Could Mean
If completed, the acquisition could give Adani a stronger position in international energy storage and commodity logistics. Ownership of terminal infrastructure could also complement its existing presence in ports and other transport-related assets.
The proposed deal comes amid growing interest in infrastructure that supports the storage and movement of energy products. VTTI’s portfolio includes facilities handling both conventional fuels and alternative products such as biofuels.
However, the acquisition remains at the evaluation stage. No final agreement, purchase structure or financing plan has been announced. The eventual outcome will depend on negotiations among the interested parties and the terms of any potential transaction.
