Under the agreement, Energy Transfer would supply 4 million barrels per month of crude oil from the terminal in the Gulf of Mexico, amid a boom in shale oil production in the United States.
"The agreement with TotalEnergies marks an important step in the commercialization of the proposed Blue Marlin Offshore Port," Energy Transfer said in a statement.
The company submitted an application for approval in late 2020 for the project, which converts an existing offshore platform in federal waters in the U.S. Gulf of Mexico so that it could load large crude tankers with up to 2 million barrels of oil piped from Texas daily.
Energy Transfer anticipates receiving a license for the project from the U.S. Maritime Administration in the second quarter of the next fiscal year.
