GIP to Inject US$1.8B Into TotalEnergies’ African Oil and Gas Infrastructure Portfolio
TotalEnergies has entered into a partnership with Global Infrastructure Partners (GIP), part of BlackRock, covering some of the French energy company’s oil and gas infrastructure assets in Africa.
Under the agreement, GIP will provide a US$1.8 billion capital contribution to TotalEnergies.
In return, TotalEnergies will pay GIP a throughput-based tariff linked to the volumes transported through the infrastructure for a period of up to 15 years.
TotalEnergies Chief Financial Officer Jean-Pierre Sbraire said the agreement would help the company unlock the value of selected midstream infrastructure assets while strengthening its relationship with GIP.
The companies have not disclosed the specific assets or African countries covered by the agreement.
The transaction forms part of TotalEnergies’ broader approach to managing its infrastructure portfolio while maintaining access to assets required for its oil and gas operations.
GIP has been part of BlackRock since its acquisition by the global investment firm in 2024.
TotalEnergies and GIP have previously partnered on energy infrastructure investments.
The deal comes as TotalEnergies continues to expand its African energy portfolio. In Angola, the company and its partners plan to invest around US$10 billion over the next five years to support oil production from mature offshore fields.
TotalEnergies is also advancing major projects elsewhere on the continent, including the East Africa Crude Oil Pipeline linking Uganda’s oil fields with the Tanzanian coast.
The latest agreement provides TotalEnergies with additional capital from an infrastructure investor while allowing GIP to participate in revenues generated from the use of the covered infrastructure.
