Sentinel Midstream submits licence application for oil export facility

Texas GulfLink will include an onshore oil storage terminal connected by a 42 in. pipeline to a manned offshore platform approximately 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 2 million bbl of crude oil with loading rates of up to 85 000 bph. The offshore platform will have around-the-clock monitoring, which will provide shippers with a safe and reliable mooring operation for VLCCs and other crude carrier vessels.

“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,” said Sentinel Midstream President and CEO, Jeff Ballard. “Texas GulfLink will utilise its team’s significant deepwater port experience and expertise to construct and operate with the highest commitment to safety, reliability, and environmental standards.”

Project financing is being provided by Cresta Fund Management. Cresta Managing Partner Chris Rozzell said, “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.”

Read the article online at: https://www.hydrocarbonengineering.com/tanks-terminals/03062019/sentinel-midstream-submits-licence-application-for-oil-export-facility/