Program to be Phased in Beginning June 1
WALTHAM, Mass.--(BUSINESS WIRE)--Apr. 30, 2014--
Global Partners LP (NYSE: GLP) today announced that it will voluntarily
begin requiring compliance with CPC-1232 rail car design standards for
all crude oil unit trains arriving at its East and West Coast terminals.
The program will be phased in at Global’s crude-by-rail receiving
facilities in Albany, NY and Clatskanie, Ore. starting June 1, 2014.
“Global is committed to safety, and as part of that commitment we have
made the proactive decision to begin only accepting crude oil unit
trains consisting entirely of CPC 1232-compliant cars,” said Eric
Slifka, the Partnership’s President and Chief Executive Officer. “This
initiative pertains to all crude oil rail cars received at the terminal,
regardless of whether they are operated by a third party or leased by
Global.
“This decision complements our comprehensive preventive safety measures
and emergency preparedness protocols,” Slifka continued. “We continue to
work closely with our employees, customers and railroads, as well as
federal and state agencies and local communities, to ensure the safe,
reliable handling of energy products throughout our network.”
The CPC-1232 standards, which address transportation of hazardous
materials including crude, were developed by the American Railroads Tank
Car Committee for rail cars ordered since October 2011. The standards
add safety features for leak prevention, puncture resistance and
rollover protection, including a thicker, more puncture-resistant shell
or jacket; extra protective head shields at both ends of the tank car;
and additional protection for the top fittings.
“New technologies have fostered tremendous gains in U.S. energy
production in recent years, putting the nation on a path toward energy
independence,” Slifka said. “Whether products travel by rail, truck,
barge or pipeline, as an industry we have both an opportunity and a
responsibility to ensure that we maximize public confidence in the
safety of the system that carries these products across the country.”
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
This news release may contain
forward-looking statements. Forward-looking statements include, without
limitation, any statement that may project, indicate or imply future
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“may,” “believe,” “should,” “could,” “expect,” “anticipate,” “plan,”
“intend,” “estimate,” “will likely result,” or other similar
expressions. In addition, any statement made by Global Partners LP’s
management concerning future financial performance (including future
revenues, earnings or growth rates), ongoing business strategies or
prospects and possible actions by Global Partners LP or 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 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