Basin Transload Facility in Beulah, North Dakota to Establish
Connection from Tesoro Logistics High Plains Pipeline System
WALTHAM, Mass.--(BUSINESS WIRE)--Apr. 24, 2014--
Global Partners LP (NYSE: GLP) today announced that Basin Transload,
LLC, its 60% owned subsidiary, has executed a pipeline connection
agreement with Tesoro High Plains Pipeline Company LLC, a subsidiary of
Tesoro Logistics LP, (“Tesoro Logistics”) whereby Tesoro Logistics will
build, own and operate a new 4.1-mile pipeline lateral from its Dunn
Center Station to Basin Transload’s facility in Beulah, ND. Crude oil is
expected to begin flowing to the Beulah destination in the fourth
quarter of 2014, enhancing the facility’s ability to source product from
a broader region. The Beulah facility includes 280,000 barrels of
storage capacity and connects via direct long-haul service to the West
and Gulf Coasts via BNSF.
“Basin Transload’s agreement with Tesoro Logistics broadens the Beulah
facility’s access to energy production in North Dakota,” said Eric
Slifka, President and Chief Executive Officer of Global Partners. “The
pipeline connection will augment the volume of crude currently being
transported from the wellhead to Beulah. The addition of pipeline access
enhances the ratability of the terminal.”
About Global Partners LP
A publicly traded master limited partnership, Global Partners LP is a
midstream logistics and marketing company. Global owns, controls or has
access to one of the largest terminal networks of refined petroleum
products and renewable fuels in the Northeast, and is one of the largest
distributors of gasoline, distillates, residual oil and renewable fuels
to wholesalers, retailers and commercial customers in New England and
New York. Global is a leader in the purchasing, selling and logistics of
transporting domestic and Canadian crude oil and other products by rail
across its “virtual pipeline” from the mid-continent region of the U.S.
and Canada to the East and West Coasts for distribution to refiners and
other customers. With a portfolio of approximately 900 locations
primarily in the Northeast, Global also is one of the largest
independent owners, suppliers and operators of gasoline stations and
convenience stores. In addition, Global is a distributor of natural gas
and propane. Global is No. 157 in the Fortune 500 list of America’s
largest corporations. For additional information visit www.globalp.com.
Forward-looking Statements
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likely result,” or other similar expressions. In addition, any statement
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its subsidiaries are also forward-looking statements.
Although Global Partners LP believes these forward-looking statements
are reasonable as and when made, there may be events in the future that
Global Partners LP is not able to predict accurately or control, and
there can be no assurance that future developments affecting Global
Partners LP’s business will be those that it anticipates.
For additional information about risks and uncertainties that could
cause actual results to differ materially from the expectations Global
Partners LP describes in its forward-looking statements, please refer to
Global Partners LP’s Annual Report on Form 10-K for the year ended
December 31, 2013 and subsequent filings the Partnership makes with the
Securities and Exchange Commission.
Readers are cautioned not to place undue reliance on the forward-looking
statements, which speak only as of the date on which they are made.
Global Partners LP expressly disclaims any obligation or undertaking to
update forward-looking statements to reflect any change in its
expectations or beliefs or any change in events, conditions or
circumstances on which any forward-looking statement is based.
Source: Global Partners LP
Global Partners LP
Daphne H. Foster, 781-894-8800
Chief
Financial Officer
or
Edward Faneuil, 781-894-8800
Executive
Vice President
General Counsel and Secretary