TotalEnergies and BlackRock Sign $1.8B Deal for African Oil and Gas Assets

AI Summary

TotalEnergies and BlackRock Global Infrastructure Partners have signed a $1.8 billion partnership deal to invest in French supermajor TotalEnergies' oil and gas assets in Africa. TotalEnergies will pay GIP tariffs based on assets throughput over up to 15 years as part of this infrastructure investment agreement.

TotalEnergies and BlackRock’s Global Infrastructure Partners (GIP) have signed a partnership agreement under which GIP will invest $1.8 billion in capital contribution toward some of the French supermajor’s oil and gas infrastructure assets in Africa. In exchange for the $1.8 billion capital contribution, TotalEnergies will pay GIP a tariff over a period of up to 15 years, based on the assets’ throughput, the French energy giant said on Friday. TotalEnergies did not specify which of its oil and gas infrastructure assets would…