Carlyle Group is no longer a stakeholder in Lone Star Ports LLC. The port was notified by Carlyle in early this month that it would no longer proceed with its investment. The construction company Berry Group will be the sole backer of the project.
No comment from Carlyle regarding why it dropped out of the project.
The project was one of at least nine crude oil export terminals proposed for the US Gulf Coast to load US shale oil onto supertankers that carry around 2 million barrels apiece. In projects in the same area, Carlyle was competing with Phillips 66 and Trafigura AG.
Obstacles faced by Carlyle’s project, one of them is a months-long delay following regulators called for an environmental review. In addition, fierce competition with Trafigura also faced by Carlyle. Trafigura’s project was launched earlier.
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