Paris, Sept. 18, 2026 (Lusa) - The French energy giant TotalEnergies on Friday announced an agreement with the world's largest asset manager, BlackRock, which will see it receive $1.8 billion [€1.5 billion] for projects in Africa.
«TotalEnergies has entered into a partnership agreement with Global Infrastructure Partners (GIP), part of BlackRock, regarding TotalEnergies' stakes in certain oil and gas infrastructure assets in Africa,» reads a statement from the French company.
The agreement stipulates that «in exchange for a capital contribution of $1.8 billion [€1.5 billion], TotalEnergies will pay GIP a fee based on traffic volume over a period of up to 15 years».
The press release does not specify which projects or which countries are involved, stating only that they relate to the French company's investments in more than half of African countries.
«We are pleased to strengthen our relationship with GIP through this infrastructure agreement, which realises the value of some of our ‘midstream' [oil or gas transport and storage] infrastructure assets in Africa,» said TotalEnergies' chief financial officer, Jean-Pierre Sbraire, as quoted in the press release.
TotalEnergies is one of the world's largest oil and gas producers and is also one of the major players in the sector in Africa, including in the Portuguese-speaking countries of Mozambique and Angola.
In Angola, the French oil company accounts for around half of oil and gas production and is the leading company in the sector operating in the country.
It recently committed to investing more than $10 billion – around €8.7 billion – over the next five years, which is expected to expand its presence in a country where it already employs around 1,500 people.
In Mozambique, TotalEnergies is the main developer of the natural gas exploration project in the Rovuma Basin, Mozambique LNG – a $20 billion investment (approximately €17.5 billion) – which could place the country amongst the world's leading gas producers and is essential for accelerating economic development.
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