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Engie in talks over possible LNG gas unit sale to Total

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LNG Industry,

Reuters reports that French utility Engie is in talks over the possible sale of its LNG division to Total.

La Lettre de l‘Expansion said a deal could be reached in the coming weeks.

Officials at Engie and Total have not yet commented.

Engie Chief Executive Isabelle Kocher is in the midst of a restructuring plan that includes €15 billion euros (US$17.7 billion) worth of asset sales and €22 billion of investment.

Total has said it will start retailing gas and power in France by the end of this year and aims to win about two million customers.

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