first_img The Texas GulfLink will comprise an onshore oil storage terminal. (Credit: Pixabay/LEEROY Agency) Sentinel Midstream subsidiary Texas GulfLink and Freepoint Commodities have signed agreements for the Texas GulfLink’s deepwater crude oil export facility off the Texas Gulf Coast.Planned to be built off the coast of Freeport, Texas, the Texas GulfLink deepwater crude oil export facility will have capacity to fully load very large crude carrier (VLCC) vessels.Sentinel Midstream president and CEO Jeff Ballard said: “We are pleased with the additional level of commercial support that Freepoint’s involvement will provide to Texas GulfLink.“As the project continues to move forward with the deepwater crude oil license application process, Sentinel is excited that Freepoint has chosen to align with Texas GulfLink and will utilize their substantial global and commercial resources to create value for their customers.“Through their Asian market focus, Freepoint will lead efforts to meet the growing demand from Asian refineries for US produced crude oil.”The Texas GulfLink terminal can fully load VLCC vesselsThe Texas GulfLink project will comprise onshore oil storage terminal, which is connected to a manned offshore platform approximately 48.2km off the Gulf Coast, by a 42-inch pipeline.Oil from the platform will be transported to two Single Point Mooring buoys to supply two million barrels of crude oil with loading rates up to 85,000 barrels per hour onto VLCCs.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.Freepoint CEO David Messer: “Freepoint recognizes the significant experience that the Texas GulfLink team has in deepwater port projects and the team’s ability to construct and operate to the highest standards.“The Texas GulfLink project will help meet the demands our customers have to reliably source US crude oil through a neutral infrastructure export option.”In June 2019, Sentinel Midstream submitted a license application to the US Maritime Administration (MARAD) for the Texas GulfLink export terminal. The Texas GulfLink deepwater crude oil export facility will have capacity to fully load very large crude carrier vesselslast_img read more