TotalEnergies has entered into a partnership agreement with Global Infrastructure Partners (GIP), a part of BlackRock, relating to TotalEnergies’ interests in a range of oil and gas infrastructure assets in Africa.
In exchange for a US$1.8bn (€1.56bn) capital contribution, TotalEnergies will pay GIP a throughput-based tariff over a period of up to 15 years.
Jean-Pierre Sbraire, chief financial officer of TotalEnergies, said: “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.”
TotalEnergies is a global integrated energy company that produces and markets energies across oil and biofuels, natural gas, biogas and low-carbon hydrogen, renewables and electricity.
Earlier this month, Foresight Group acquired a grid stability asset in Scotland from GIP marking its entry into the long-term grid stability market.
A fund managed by Foresight acquired the operational Blackhillock Synchronous Condenser for an undisclosed sum from GIP-managed funds.
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