The French energy major TotalEnergies has entered into a partnership agreement with Global Infrastructure Partners (GIP), a BlackRock affiliate, to cover its interests in selected oil and gas infrastructure assets in Africa, according to a TotalEnergies press release.

Under the agreement, GIP will provide a $1.8 billion capital contribution to TotalEnergies. In return, TotalEnergies will pay GIP a throughput-based tariff over a period of up to 15 years.

The partnership is intended to unlock the value of TotalEnergies’ midstream infrastructure portfolio in Africa while strengthening its relationship with GIP.

GIP is a global infrastructure investment platform focused on energy, transport, digital infrastructure, and water and waste management. BlackRock completed its acquisition of GIP in October 2024.

“We are pleased to strengthen our relationship with GIP through this infrastructure agreement, which crystallizes the value of some of our midstream infrastructure assets in Africa,” said Jean-Pierre Sbraire, Chief Financial Officer of TotalEnergies.

The agreement follows TotalEnergies’ previous partnership with GIP on the Gladstone LNG project in Australia. Under the 2021 transaction, GIP provided more than $750 million in exchange for a throughput-based tolling fee over 15 years, while TotalEnergies retained ownership and control of its stake in the project’s downstream joint venture.