Engie negotiating LNG business sale to Total

French energy giant and LNG player Engie could be selling its liquefied natural gas (LNG) business to compatriot Total. 

The two companies have already started talks over a possible sale, Reuters reports citing the financial newsletter La Lettre de l‘Expansion.

An agreement could be achieved over the following weeks, however, no price tag has yet been put on the deal.

If the talks come to fruition, the LNG business would become the next in line under Engie’s portfolio rotation program unveiled in February 2016, that will see the company disposing of assets in the value of €15 billion ($17.6 billion) during the 2016-2018 period.

LNG World News Staff