TotalEnergies (Paris: TTE; LSE: TTE; NYSE: TTE) announced a partnership with Global Infrastructure Partners (GIP), an infrastructure investor and BlackRock unit, that will provide the energy group with a $1.8 billion capital contribution tied to its African midstream infrastructure assets.
Under the agreement, TotalEnergies will pay GIP a throughput-based tariff over a period of up to 15 years in return for the upfront capital injection. The transaction is structured as a sale-and-leaseback arrangement, allowing TotalEnergies to retain operational control of the infrastructure while accessing liquidity from the deal.
The press release did not specify which particular assets or countries are covered by the agreement.
Jean-Pierre Sbraire, TotalEnergies' chief financial officer, said the company was pleased to strengthen its relationship with GIP through the infrastructure agreement.
