(WO) — TotalEnergies has entered into a $1.8 billion partnership with Global Infrastructure Partners (GIP), part of BlackRock, involving interests in certain oil and gas infrastructure assets in Africa.
Under the agreement, GIP will make a $1.8 billion capital contribution. In return, TotalEnergies will pay GIP a throughput-based tariff over a period of up to 15 years.
The transaction allows TotalEnergies to monetize value from portions of its African midstream infrastructure while maintaining access to the assets through the long-term tariff arrangement.
“We are pleased to strengthen our relationship with GIP through this infrastructure agreement which crystallizes the value of some of our midstream infrastructure assets in Africa,” said Jean-Pierre Sbraire, chief financial officer of TotalEnergies.
TotalEnergies did not identify the specific African assets covered by the agreement or provide additional details on the throughput-based payments.
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