Energy Transfer in Heads of Agreement With TotalEnergies for Crude Offtake From Its Blue Marlin Offshore Project

Dallas (Nov. 16, 2023) — Energy Transfer LP 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.

Blue Marlin Offshore Port is being designed and permitted as a best-in-class wellhead to water offshore port with the ability to load up to one Very Large Crude Carrier, or VLCC, per day. Blue Marlin is a brownfield project that leverages existing underutilized offshore infrastructure resulting in reduced environmental impact and a quicker time to market. The project also remains subject to applicable government approvals.