TotalEnergies has entered into a partnership agreement with Global Infrastructure Partners (GIP) for select midstream oil and gas infrastructure assets in Africa, receiving a $1.8 billion capital contribution from the BlackRock-affiliated investor.
Under the terms of the deal, TotalEnergies will pay GIP a throughput-based tariff over a period of up to 15 years in exchange for the capital injection. The company did not specify which particular African infrastructure assets are included in the arrangement or provide further details on the tariff structure.
Jean-Pierre Sbraire, TotalEnergies' chief financial officer, said the agreement strengthens the company's relationship with GIP and crystallizes value from its midstream infrastructure holdings in Africa.
TotalEnergies, which trades on the Paris Stock Exchange, the London Stock Exchange, and the New York Stock Exchange under the ticker TTE, operates in approximately 120 countries. The integrated energy company produces oil, biofuels, natural gas, biogas, low-carbon hydrogen, renewables and electricity, and employs more than 100,000 people globally.
The transaction represents a strategic move by the French energy group to unlock value from its African midstream operations while maintaining operational involvement through the long-term tariff arrangement.
