TotalEnergies said on September 18 it signed a partnership with Global Infrastructure Partners, an infrastructure investment firm under BlackRock, covering certain oil and natural gas infrastructure assets in Africa. GIP will contribute $1.8 billion, while TotalEnergies will continue using the assets and pay volume-based throughput fees for up to 15 years. The assets and countries involved were not disclosed, and the company described the arrangement as external financing based on existing infrastructure rather than new capital expenditure. CFO Jean-Pierre Sbraire said the deal "crystallizes and clarifies" the value of certain African midstream assets. The structure follows TotalEnergies’ 2021 agreement with GIP Australia involving Gladstone LNG facilities, where GIP contributed more than $750 million under a 15-year tolling contract while TotalEnergies retained control and ownership of its 27.5% interest. GIP was acquired by BlackRock in October 2024. TotalEnergies’ American Depositary Receipts fell 1.7% in after-hours trading after the announcement, while BlackRock shares rose.