NYK Line is in negotiations to buy Total’s controlling stake in French LNG carrier technical manager Gazocean.

NYK holds a 20% stake in the ­Marseilles-based management company, with Total sitting on the balance.

TradeWinds understands the buyout is being discussed with domestic trade unions, as required under French law.

Gazocean employs around 200 people and boasts a fleet of six LNG carriers. Three of these are in Total’s fleet, with the others under NYK’s control. NYK also has a partial stake in one of the Total vessels.

NYK has been working closely with French entities on LNG for more than 15 years, first buying in to newbuildings in what was then GdF Suez, and later with Gazocean. More recently, it secured time charters with French utility EDF Energy and Total to back newbuildings.

The Japanese owner is also one of four tipped to be awarded time charter contracts for newbuildings to serve Total’s Mozambique LNG project.

A Total spokesman said the company had no comment to make.

Gazocean: fleet list
LNG carrierSize (cbm)BuiltOwnership
Global Energy74,5002006Total
LNG Alliance154,5002007Total/NYK Line
LNG Unity154,4002006Total
Grace Acacia150,0002007NYK Line
Grace Cosmos153,5002008NYK Line
Elisa Larus174,0002020NYK Line

A Total spokesman said the company had no comment to make.

Gazocean has a long history in the LNG industry, dating back to 1957. It was formed by the legendary LNG industry figure and innovator Rene Boudet with one small butane carrier and has operated LNG and LPG carriers over the years.

Boudet formed a technical department and went on to investigate how the transport of liquefied gases could be improved.

In 1963, this led to the formation of Technigaz, which eventually developed the membrane-­containment system.

The company lists some famous ship names in its historical records, including the 610-cbm Pythagore, originally a cargoship that Boudet fitted out with a Technigaz membrane-type in 1964, and the 25,500-cbm Jules Verne (built 1965) complete with its art deco interior.

One of Gazocean’s LNG newbuildings, the 120,000-cbm Ben Franklin (built 1975), was sent for demolition without ever lifting a cargo.

The company’s fleet peaked at more than 50 gas and chemical carriers in the 1980s.

Boudet resigned from Gazocean in 1978, moving on to form gas shipping company Geogas.