Approximately 20.9% of equity within FTAI’s reportable segments as of June 30, 2018
On August 27, 2014, FTAI acquired a 60% equity interest in Jefferson Refinery, LLC (“Jefferson”), an energy infrastructure company that is developing a large multi-modal crude oil and refined products logistics terminal at the Port of Beaumont, Texas and also owns several other key assets involved in the transportation and processing of crude oil and related products. Jefferson Terminal’s unique location close to Port Arthur enjoys direct rail service from three Class I railroads, and is adjacent to four major oil refineries with the capacity for over 1.5 million barrels of oil per day, the largest concentration of refineries in North America by capacity.
Jefferson Terminal is also able to offer customers on-site storage or blending services and has the capacity to handle a total of 230,000 barrels per day of free-flowing crude oil and heavy bitumen, as well as barge docks and deep water ship loading capacity. Jefferson also owns 300 general purpose tank cars built in compliance with the latest safety standards that we can lease to crude shippers. As a result, we believe Jefferson Terminal is ideally positioned to take advantage of the growing crude-by-rail and crude export markets, which are being driven by increased U.S. and Canadian oil production. Jefferson’s attractive location and comprehensive multi-modal capabilities is expected to result in stable and growing demand from refiner customers in the region. Furthermore, Jefferson provides significant organic growth opportunities from identified projects. FTAI expects to deploy significant additional capital at Jefferson to increase truck, tank and rail assets and capacity, build out dock capacity to handle Canadian crude exports, and develop pipeline connections to a nearby refinery.
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