Sentinel Midstream and Freepoint Commodities Execute Agreements on Texas GulfLink's Deepwater Crude Oil Export Facility

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Jan 23, 2020, 05:00 ET

DALLAS, Jan. 23, 2020 /PRNewswire/ -- Sentinel Midstream, LLC, through its subsidiary Texas GulfLink, LLC, today announced its alignment with Freepoint Commodities LLC ("Freepoint") in furtherance of the construction, operation, and utilization of Texas GulfLink. Texas GulfLink is a deepwater crude oil export facility that will be located off the coast of Freeport, Texas, and will be capable of fully loading Very Large Crude Carrier (VLCC) vessels.

freeport commodities logo

Texas GulfLink will include an onshore oil storage terminal connected by a 42" 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 two million barrels of crude oil with loading rates up to 85,000 barrels per hour. Designed around safety, 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.

"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," said Sentinel Midstream President and CEO, Jeff Ballard. "Through their Asian market focus, Freepoint will lead efforts to meet the growing demand from Asian refineries for US produced crude oil."

"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," said Freepoint CEO David Messer. "The Texas GulfLink project will help meet the demands our customers have to reliably source US crude oil through a neutral infrastructure export option."

About Sentinel Midstream
Sentinel Midstream is headquartered in Richardson, Texas, offering first-class midstream solutions for crude oil transportation, storage, and terminaling. Sentinel's management has a successful track record of unlocking value for customers by creating tailored commercial solutions. For more information, please visit: www.sentinelmidstream.com
Phone: 214.613.3493 and email: [email protected]

About Freepoint Commodities
Freepoint Commodities is a leading global commodities merchant with presence in North America, Europe and Asia. The company provides trading, financing, and logistics solutions and services across a wide range of commodity markets, leveraging its expertise in global infrastructure and supply chains, and strong legacy in merchant energy and metals. Freepoint is headquartered in Stamford, CT and has over 430 employees worldwide. For more information, please visit: www.freepoint.com
Phone: 203.542.6000

Freepoint Media Contact
Serra Saridereli
RF|Binder
212.994.7561
[email protected]

Texas GulfLink Contacts
Public Relations & Media: [email protected]
Vendor & Contractor: [email protected]
Regulatory & Permitting: [email protected]

SOURCE Sentinel Midstream