TotalEnergies Partners With GIP on $1.8 Billion African Infrastructure Deal

TotalEnergies has partnered with Global Infrastructure Partners, a BlackRock affiliate, in a deal that will provide $1.8 billion in capital for interests in selected African oil and gas midstream infrastructure assets. In return, TotalEnergies will pay GIP throughput-based tariffs for up to 15 years, allowing the energy company to monetize the assets while continuing to use and operate the infrastructure. TotalEnergies said the transaction crystallizes the value of its African midstream portfolio and strengthens its relationship with a major infrastructure investor.