FTAI Energy Partners to Buy Port Arthur Terminal for $255 Million
The cash purchase of a Gulf Coast terminal and a Hardisty diluent unit is framed as a take-or-pay crude logistics platform that more than doubles Jefferson’s Adjusted EBITDA.
FTAI Energy Partners LLC agreed to buy the Port Arthur Terminal in Port Arthur, Texas, and a 50% interest in the Diluent Recovery Unit in Hardisty, Alberta, for approximately $255 million in cash.
The asset purchase is expected to close after required regulatory approvals, which are expected during the fourth quarter of 2026.
FTAI Energy Partners described the acquired assets as an integrated origin-to-destination logistics platform for shipping crude oil into the Beaumont refinery hub under a long-term, take-or-pay contract with a major energy exploration and production company.
Ken Nicholson, Chief Executive Officer of FTAI Infrastructure, said the purchase of USD’s assets “is an ideal fit and highly accretive for our Jefferson segment, more than doubling Jefferson’s existing Adjusted EBITDA with contracted cash flow under a long-term agreement with minimum volume commitments from an investment grade counterparty.” He said the transaction “significantly de-leverages Jefferson’s balance sheet and, we believe, creates substantial incremental value at Jefferson.”
The Hardisty interest sits in Alberta, while the Port Arthur Terminal sits on the Gulf Coast. Together, they form the origin-to-destination chain that feeds Beaumont under the take-or-pay arrangement.
Nicholson’s remarks put the Jefferson segment at the center of the rationale: contracted volumes from an investment-grade counterparty, a more than doubling of existing Adjusted EBITDA, and a balance-sheet de-levering that creates incremental value at Jefferson.
Closing remains subject to regulatory approvals expected in the fourth quarter of 2026.