The agreement with TotalEnergies marks an important step in the commercialization of the proposed Blue Marlin Offshore Port
Energy Transfer announces heads of agreement with Totalenergies for crude offtake from Blue Marlin offshore project. (Credit: マクフライ 腰抜け from Pixabay)
Energy Transfer LP (NYSE: ET) announced it has entered into a non-binding Heads of Agreement (HOA) with TotalEnergies related to term crude oil offtake from its proposed Blue Marlin Offshore Port for 4 million barrels per month. The HOA is subject to the negotiation and execution of definitive agreements and the satisfaction of other conditions, including Energy Transfer taking a final investment decision.
The agreement with TotalEnergies marks an important step in the commercialization of the proposed Blue Marlin Offshore Port and underscores the need for the further development of export capabilities to support the efficient delivery of U.S.-produced energy products globally.
Source: Company Press Release