Singapore’s investment company Temasek Holdings has bought a 10.4% stake in Gaztransport & Technigaz (GTT) from French oil firm Total.

Upon completion of the transaction, Total would have disposed of its entire stake in GTT, a specialist designer of membrane containment systems for the maritime transportation and storage of LNG.

“We are pleased by Temasek’s acquisition of an interest in our capital, as a long term shareholder. Its geographical roots and its experience in the LNG and marine industries fit perfectly well with the company’s strategy,” said Philippe Berterottière, chairman and ceo of GTT.

During GTT’s IPO in February this year, Total had previously reduced its shareholding from 30% to 10.4%.

“With Temasek’s support, our aim is to consolidate our world leading position and expertise in the transport of LNG and to pursue our development in innovative and competitive technologies and in the new growing areas of liquefied gases,” Berterottière said.

GTT operates in several sectors including LNG carriers and very large ethane carriers, multi-gas carriers, FLNGs, FSRUs, onshore storage tanks and the use of LNG as a fuel.