TotalEnergies partnered with BlackRock affiliate Global Infrastructure Partners (GIP) regarding African midstream oil and gas assets.
GIP will provide a $1.8 billion capital contribution to the company.
TotalEnergies will pay GIP a throughput-based tariff for up to 15 years.
The arrangement allows the firm to monetize infrastructure while retaining operational use.
The specific assets and countries involved in the deal remain undisclosed.
Chief Financial Officer Jean-Pierre Sbraire noted the deal crystallizes the value of these African assets.
The partnership supports TotalEnergies' strategy to unlock capital and strengthen its balance sheet.