Sentinel Midstream has fashioned a second three way partnership with ExxonMobil Pipeline Firm LLC to broaden its last-mile infrastructure platform.
The JV known as Enercoast Midstream Louisiana LLC will present important pipeline connectivity between crude oil terminals in Raceland, St James, and Anchorage, Louisiana.
ExxonMobil contributed two present crude oil pipelines to Enercoast, a 16-inch crude pipeline originating at St. James with a supply level at Anchorage, and a 16-inch crude pipeline originating at Raceland and St James with a supply level at Anchorage, Sentinel mentioned in a media launch. With their supply factors at Anchorage, these pipelines present connectivity to the ExxonMobil Baton Rouge, Placid, and Delek Krotz Springs refineries.
Sentinel mentioned it contributed money for a majority fairness place in and would be the operator of the three way partnership.
As operator, Sentinel mentioned it brings an skilled, results-oriented administration crew with a confirmed observe file of maximizing worth whereas sustaining its core values of secure, dependable operations and environmental stewardship. Sentinel will undertake efforts to commercialize capability on Enercoast’s system whereas pursuing alternatives to develop its working footprint in Louisiana.
“We’re extraordinarily happy to proceed the expansion of our three way partnership with ExxonMobil to maximise the potential of Enercoast within the important Louisiana crude oil market”, mentioned Jeff Ballard, President and CEO of Sentinel. “ExxonMobil and Sentinel’s determination to type a second three way partnership, in a brand new geographic space, speaks to the expansion of our relationship and the worth every social gathering locations on it”.
Enercoast started serving shippers as a common-carrier pipeline on December 1, 2023.
Headquartered in Dallas, Texas, Sentinel gives midstream options for crude oil transportation, storage, and terminaling. The corporate is backed by Cresta Fund Administration, an funding supervisor with over $1.4 billion of belongings beneath administration funding specialised center market power infrastructure alternatives.
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