Energy Transfer Announces A Heads Of Agreement With TotalEnergies For Crude Offtake From Its Blue Marlin Offshore Project; TotalEnergies Signs For 4M Barrels Of Crude Oil Per Month
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Energy Transfer LP (NYSE:ET) has signed a non-binding Heads of Agreement with TotalEnergies for a term crude oil offtake of 4 million barrels per month from the proposed Blue Marlin Offshore Port. The agreement is contingent on finalizing definitive agreements and Energy Transfer's final investment decision. The Blue Marlin project aims to enhance U.S. energy export capabilities and is designed to load one VLCC per day, utilizing existing infrastructure for environmental benefits and faster market delivery, pending government approvals.
November 16, 2023 | 1:16 pm
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Energy Transfer LP has entered into a preliminary agreement with TotalEnergies for crude oil offtake, which could significantly boost its commercial operations and future revenue prospects from the Blue Marlin Offshore Port project.
The Heads of Agreement with TotalEnergies is a positive development for Energy Transfer, indicating potential future revenue growth and increased commercial viability of the Blue Marlin Offshore Port. However, as the agreement is non-binding and subject to further negotiations and approvals, the impact is positive but with a moderate level of confidence.
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