Sentinel Midstream, a portfolio company of Cresta Energy Capital, is seeking approval to construct and operate a deepwater crude oil export facility, dubbed as Texas GulfLink, in Texas, US.
As part of this effort, the firm has submitted a license application to the US Maritime Administration (MARAD).
The Texas GulfLink terminal can fully load VLCC vessels
Planned to be built off the coast of Freeport, Texas, the terminal will be able to fully load Very Large Crude Carrier (VLCC) vessels.
The Texas GulfLink will comprise an onshore oil storage terminal which will be connected by a 42-inch pipeline to a manned offshore platform approximately 48.2km off the Gulf Coast.
Oil will be transported from the offshore platform to two Single Point Mooring buoys, allowing for VLCCs to receive two million barrels of crude oil with loading rates up to 85,000 barrels per hour.
Sentinel Midstream president and CEO Jeff Ballard said: “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 U.S. crude oil production.
“Texas GulfLink will utilize its team’s significant deepwater port experience and expertise to construct and operate with the highest commitment to safety, reliability, and environmental standards.”
Comprising around-the-clock monitoring, the offshore platform will provide shippers with a safe and reliable mooring operation for VLCCs and other crude carrier vessels, Sentinel said.
The financing for the Texas GulfLink terminal will be provided by Cresta Fund Management.
Cresta managing partner Chris Rozzell said: “By reducing capacity constraints in Gulf Coast ports and creating an economic oil export outlet, Texas GulfLink will allow U.S oil producers to continue to develop and increase U.S. oil production without potential production curtailments due to lack of export capacity.”
