French oil and gas firm Total has sold a 6.4% stake in the Gassled gas pipeline network off Norway for nearly $900m to a European investment fund.

Total’s senior vice president Patrice de Vivies stated that the companies closed the deal following their mutual agreement last week.

"The resources are being used on our core work, so it would be preferable to sell stakes in pipelines rather than stakes in oilfields," De vives added.

Norwegian energy firm Statoil has sold a 24.1% stake in Gassled to a group which includes the German insurer Allianz and the Abu Dhabi Investment Authority for $3.25bn, reports Reuters.