TotalEnergies partnered with BlackRock’s Global Infrastructure Partners (GIP) to secure a $1.8 billion investment. The deal targets the French energy giant's oil and gas infrastructure assets across Africa.
GIP will receive a throughput-based tariff for a period of up to 15 years. This upfront capital contribution allows TotalEnergies to monetize existing midstream assets.
The company’s CFO stated the agreement crystallizes value and strengthens the balance sheet. Analysts categorize the move as capital recycling rather than a shift in upstream strategy.