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Private-equity backed Sentinel files application for Texas crude export project

Private-equity backed Sentinel Midstream LLC applied for a deepwater crude oil export facility project in Texas that would be capable of fully loading very large crude carriers, or VLCCs, the largest commonly used class of freighter ships in the oil trade.

Sentinel, through its subsidiary Texas GulfLink LLC, submitted a license application to the U.S. Maritime Administration to develop the facility near Freeport, Texas, according to a June 3 news release.

The Texas GulfLink facility would have an onshore oil storage terminal, which would be connected to a manned offshore platform through a 42-inch pipeline. The oil would be moved from the platform to two buoys, allowing for VLCCs to receive 2 million barrels of crude oil, with loading rates of up to 85,000 bbl per hour, Sentinel said in the release.

Funding for the Texas GulfLink project is provided by private equity firm Cresta Fund Management, which also backs Sentinel, according to the release.

Abadie-Williams was the primary engineering and regulatory consultant, while Kean Miller LLP acted as lead legal adviser to Texas GulfLink.