TotalEnergies partners with GIP on African infrastructure assets

TotalEnergies has entered into a partnership with Global Infrastructure Partners (GIP), a BlackRock unit, to acquire oil and gas infrastructure assets in Africa. The agreement involves a $1.8 billion capital contribution from GIP to TotalEnergies, in exchange for a throughput-based tariff over a 15-year period. The deal encompasses TotalEnergies' interests in midstream infrastructure assets situated in Africa, though the specific assets and countries involved have not been disclosed.

GIP's Chief Financial Officer, Jean-Pierre Sbraire, expressed satisfaction with the partnership, highlighting the opportunity to strengthen TotalEnergies' relationship with GIP. This transaction follows a sale-and-leaseback model, allowing TotalEnergies to retain operational control of the infrastructure while receiving an initial infusion of capital from GIP.