Pipeline operator Sentinel Midstream said on Friday it has formed a joint venture (JV) with Exxon Mobil XOM-N to provide pipeline connectivity between crude oil terminals in Louisiana.
The JV, named Enercoast Midstream Louisiana, is the second such initiative by the two companies, Sentinel said.
Exxon contributed two crude oil pipelines to the JV to carry oil between Raceland, St. James and Anchorage terminals. Sentinel contributed cash for a majority equity position and said it would be the JV’s operator.
“Sentinel will undertake efforts to commercialize capacity on Enercoast’s system while pursuing opportunities to grow its operating footprint in Louisiana,” it said in a statement.