Sentinel Midstream has submitted a license application with the US Maritime Administration to construct and operate a deepwater crude oil export facility.
The port will be located off the coast of Freeport, Texas, and will be capable of fully loading VLCC vessels. Texas GulfLink will include an onshore oil storage terminal connected by a 42-inch pipeline to a manned offshore platform 30 miles off the Gulf Coast.
From the platform the oil will be transported to two Single Point Mooring buoys to allow for VLCCs to receive two million barrels of crude oil with loading rates up to 85,000 barrels per hour.
Jeff Ballard, president and CEO, says: ‘With the submission of the license application to MARAD, Texas GulfLink has completed a major milestone towards receiving approval to construct and operate a deepwater crude oil export facility.
‘As the neutral infrastructure export solution for shippers, Texas GulfLink will provide a necessary crude oil export outlet for the expected increase in US crude oil production.’
Project financing is being provided by Cresta Fund Management. Cresta managing partner Chris Rozzell adds: ‘We are pleased with the commercial support Texas GulfLink has received and the continued strong interest from shippers who recognise the need for additional export capacity.
‘By reducing capacity constraints in Gulf Coast ports and creating an economic oil export outlet, Texas GulfLink will allow US oil producers to continue to develop and increase US oil production without potential production curtailments due to lack of export capacity.’
Check out the June/July edition of Tank Storage Magazine for an exclusive interview with Sentinel Midstream, providing more information about Texas GulfLink.
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