CORRECTION – Fortress Transportation and Infrastructure LLC Announces Jefferson Energy Companies’ Successful Completion of its Cross Channel Pipelines Project to the ExxonMobil Beaumont Refinery

Nachrichtenquelle: globenewswire
22.02.2021, 23:19  |  122   |   |   

NEW YORK, Feb. 22, 2021 (GLOBE NEWSWIRE) -- In a release issued under the same headline on Monday, February 22nd, 2021 by Fortress Transportation and Infrastructure Investors LLC (NYSE:FTAI), please note that the third paragraph including a quote has been removed altogether. The corrected release follows:

Fortress Transportation and Infrastructure Investors LLC (NYSE:FTAI) and Jefferson Energy Companies (“Jefferson Energy”) are pleased to announce the successful completion of its Cross Channel Pipelines project. This project consists of six pipelines connecting the Jefferson Energy terminal to the ExxonMobil (NYSE:XOM) Beaumont refinery and allows for ratable and efficient pipeline movements of both refined products and crude oil between the two locations. Barge traffic on the Neches River and at the Jefferson Energy terminal will be reduced, allowing for new, incremental marine opportunities to be developed. Following the appropriate pipeline commissioning, safety, and start-up protocols, two of the six pipelines will immediately be placed into service and provide pipeline throughput capacity of 168,000 barrels per day of diesel and 150,000 barrels per day of gasoline.

“The completion of the Cross Channel Pipelines project is the result of long term, strategic hard work and dedication by numerous Jefferson Energy employees, as well as ExxonMobil and the Port of Beaumont. Through the addition of these pipelines, Jefferson Energy has added increased optionality for its customers and pipeline assets that improve ratability and lower logistics costs for the customer,” said William Shea, President and Chief Executive Officer of Jefferson Energy. “Additionally, the vision and financial support from the FTAI management team has made projects like this a reality and a true milestone for the Jefferson Energy terminal.”

“The Port of Beaumont would like to congratulate Jefferson Energy on this tremendous accomplishment,” said David C. Fisher, Port Director and CEO of the Port of Beaumont. “We are incredibly proud to have Jefferson Energy as a partner, and applaud the vision, hard work, and commitment that it took to bring this project to fruition. This achievement is only made better in our eyes, as it also benefits the Port’s good neighbor, ExxonMobil. We are honored to be a part of the region’s ever-growing energy corridor.”

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CORRECTION – Fortress Transportation and Infrastructure LLC Announces Jefferson Energy Companies’ Successful Completion of its Cross Channel Pipelines Project to the ExxonMobil Beaumont Refinery NEW YORK, Feb. 22, 2021 (GLOBE NEWSWIRE) - In a release issued under the same headline on Monday, February 22nd, 2021 by Fortress Transportation and Infrastructure Investors LLC (NYSE:FTAI), please note that the third paragraph including a quote …

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