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.