French energy major TotalEnergies has finalised an agreement with Global Infrastructure Partners (GIP), a unit of BlackRock, covering select midstream oil and gas infrastructure assets across Africa.
Under the terms of the deal, GIP will provide a US$1.8 billion (AU$2.53 billion) capital injection to TotalEnergies.
In exchange, TotalEnergies will pay GIP a throughput-based tariff over a period extending up to 15 years for utilising the shared infrastructure network.
“We are pleased to strengthen our relationship with GIP through this infrastructure agreement which crystallises the value of some of our midstream infrastructure assets in Africa,” said Jean-Pierre Sbraire CFO of TotalEnergies.
TotalEnergies did not specify the African assets covered by the agreement or provide additional financial details.
This transaction reflects a broader trend among global integrated energy producers to monetise capital-intensive midstream assets, such as pipelines, storage facilities, and transport terminals, without relinquishing operational control.
By unlocking capital from existing hardware, companies can improve liquidity, lower debt levels, and redeploy capital toward low-carbon initiatives or high-margin production projects.
For GIP, which operates under BlackRock’s multi-trillion-dollar investment umbrella, the partnership delivers steady, long-term fee income backed by TotalEnergies’ operational volume in key African markets.
TotalEnergies remains one of the premier foreign energy developers in Africa, holding major stakes in upstream oil and LNG developments in countries such as Nigeria, Angola, Mozambique, and Uganda.
This financial structuring agreement with GIP allows the firm to balance its traditional oil and gas commitments with its ongoing capital allocation toward cleaner energy projects.
