Fortress Transportation and Infrastructure LLC and Jefferson Energy Companies Announce the Successful Completion of the Palin...
May 25 2021 - 3:17PM
Fortress Transportation and Infrastructure Investors LLC
(NYSE:FTAI) and Jefferson Energy Companies (“Jefferson Energy”) are
pleased to announce the successful completion of the Paline
pipeline interconnection project. This project consisted of
constructing approximately five miles of new 10-inch pipeline
connecting the Paline pipeline into the Jefferson Energy terminal.
The interconnection allows for ratable and efficient light crude
oil pipeline movements from Cushing, Oklahoma to the Jefferson
Energy terminal in Beaumont, Texas. As a result, numerous light
grades of crude oil originating from the most prolific production
basins in North America are available for customers at the
Jefferson terminal.
“In conjunction with Delek Logistics Partners,
L.P. (NYSE:DKL) senior management and project teams, Jefferson
Energy is excited to bring additional inbound pipeline crude oil
optionality to customers at the Jefferson Energy terminal. This
pipeline is the third successful pipeline project to be completed
in the past five months and marks another example of providing
efficient logistical solutions for our customers,” said Matt Evans,
Executive Vice President and Chief Commercial Officer of Jefferson
Energy. “Jefferson Energy and the FTAI team remain committed to
providing additional opportunities for our current and future
customers and to support the long-term vision of the Jefferson
Energy terminal,” said Joe Adams, FTAI Chairman and Chief Executive
Officer.
“DKL is pleased to provide its Paline Pipeline
Shippers with another delivery location in the Jefferson Energy
terminal in Beaumont, Texas. This new connection allows for barrels
to flow from DKL’s strategically located Longview, Texas assets,
connecting both the prolific Permian Basin and the strategic
Cushing, Oklahoma storage hub to US Gulf Coast markets,” said Uzi
Yemin, Chairman, President and Chief Executive Officer of Delek US
Holdings.
The Jefferson Energy terminal is located on the
Neches River in the heart of the Beaumont, Texas refining complex.
The Jefferson Energy terminal has been in operation since 2012 and
currently has over 4.3 million barrels of heated and unheated
storage servicing both crude oil and refined products. In addition
to the terminal’s storage and blending capabilities, the terminal
has six rail loop tracks, is triple served by the BNSF, KCS, and
Union Pacific railroads and utilizes two marine docks for regional
and global marine movements.
Jefferson Energy continues to develop additional
logistics solutions for its customers through incremental storage,
marine and rail capabilities, and pipeline connectivity. Jefferson
Energy is a subsidiary of FTAI.
About Fortress Transportation and
Infrastructure Investors LLC
Fortress Transportation and Infrastructure
Investors LLC owns and acquires high quality infrastructure and
equipment that is essential for the transportation of goods and
people globally. FTAI targets assets that, on a combined basis,
generate strong and stable cash flows with the potential for
earnings growth and asset appreciation. FTAI is externally managed
by an affiliate of Fortress Investment Group LLC, a leading,
diversified global investment firm.
For further information, please
contact:
Alan AndreiniInvestor RelationsFortress
Transportation and Infrastructure Investors LLC(212)
798-6128aandreini@fortress.com
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