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.