Sentinel Midstream, ExxonMobil Form Enercoast Midstream to Serve Houston Energy Market
Sentinel Midstream Texas announced the formation of a joint venture with ExxonMobil Pipeline Company that owns crude oil pipelines and related transportation infrastructure in the Houston area. The joint venture, Enercoast Midstream, provides the critical last-mile link for Permian, Gulf of Mexico, and other barrels in the Houston crude oil market.
For the joint venture, ExxonMobil will contribute two existing crude oil pipelines into Enercoast: a 16-inch pipeline originating at Webster Terminal with delivery points at ExxonMobil's Baytown Refinery and Seabrook export terminal and a 20-inch crude pipeline with access to Moore Road station. Sentinel contributed cash for a majority equity position and will be the operator for the joint venture.
As operator, Sentinel brings an experienced, results-oriented management team with a proven track record of maximizing value while maintaining its core values of safe, reliable operations and environmental stewardship. Sentinel will undertake efforts to commercialize capacity on Enercoast's system while pursuing opportunities to grow its operating footprint by building or acquiring new pipelines.
"We are extremely pleased to establish a joint venture with ExxonMobil to maximize the potential of Enercoast," said Jeff Ballard, President and CEO of Sentinel. "Sentinel looks forward to the opportunity to serve ExxonMobil and other shippers in the Houston market."
Enercoast began serving shippers as a common-carrier pipeline on October 1, 2021. Enercoast's tariffs are available on Sentinel's website.
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