Sentinel Midstream has announced plans to develop a proposed deepwater crude oil export terminal offshore Freeport, Texas, US.
The completed Texas GulfLink facility will have the capacity to fully load very large crude carrier vessels and include a 42in offshore pipeline and a manned offshore platform.
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Port operations will be facilitated by the platform with two Catenary Anchor Leg Mooring Single Point Mooring buoys.
Additionally, Texas GulfLink will have an onshore terminal with a storage capacity of up to 18 million barrels.
Export loading rates of the facility are expected to be up to 85,000 barrels per hour. It will have a nominal capacity of 1.2Mbpd over the course of a calendar year.
Sentinel Midstream president and CEO Jeff Ballard said: “Texas GulfLink will provide the United States with an economical solution to clear the over-supply barrels destined for the Gulf Coast.
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By GlobalData“Our team of seasoned professionals is committed to developing Texas GulfLink with a specific focus on exceeding industry standards for safety and environmental protection.”
Sentinel Midstream developed the facility over the past year in conjunction with including federal, state, and local agencies.
The project is currently preparing its submission with the US Maritime Administration (MARAD) to obtain a formal permit.
Private equity firm Cresta Fund Management will provide project financing for the project.
Cresta Fund Management managing partner Chris Rozzell said: “We view the company’s value proposition, which provides a neutral infrastructure solution without the inherent conflicts of affiliated marketing, as the best approach to support the interests of US producers and lead to the greatest outcome for all stakeholders.”
Last month, pipeline operator Magellan Midstream Partners said it is also considering building an offshore crude export terminal at Freeport.
