Global Partners LP Completes Acquisition of East Providence Liquid Energy Terminal
Global Partners LP (NYSE:GLP) has completed the acquisition of a liquid energy terminal in East Providence, Rhode Island from ExxonMobil Oil The terminal features 10 product tanks with 959,730-barrel shell capacity for storing gasoline, additives, distillates, and ethanol. The facility includes a six-bay truck rack serving Rhode Island, Northern Connecticut, and Southern Massachusetts markets, plus a dock for long-range vessels. The acquisition includes surplus vacant real estate parcels for potential future development and will enhance Global's gasoline infrastructure to optimize its marketing and retail presence in the area.
Global Partners LP (NYSE:GLP) ha completato l'acquisizione di un terminal petrolifero liquido a East Providence, Rhode Island da ExxonMobil Oil. Il terminal è dotato di 10 serbatoi con una capacità complessiva di 959.730 barili per lo stoccaggio di benzina, additivi, distillati ed etanolo. La struttura include una banchina per camion con sei vani che serve i mercati del Rhode Island, del Connecticut settentrionale e del Massachusetts meridionale, oltre a un molo per imbarcazioni a lungo raggio. L'acquisizione include anche lotti immobiliari vuoti in surplus per potenziali sviluppi futuri e migliorerà l'infrastruttura di benzina di Global per ottimizzare la sua presenza nel marketing e al dettaglio nell'area.
Global Partners LP (NYSE:GLP) ha completado la adquisición de una terminal de energía líquida en East Providence, Rhode Island de ExxonMobil Oil. El terminal cuenta con 10 tanques de productos con una capacidad total de 959,730 barriles para almacenar gasolina, aditivos, destilados y etanol. La instalación incluye un muelle para camiones de seis bahías que sirve a los mercados de Rhode Island, el norte de Connecticut y el sur de Massachusetts, además de un muelle para embarcaciones de largo alcance. La adquisición incluye parcelas de bienes raíces vacantes excedentes para un posible desarrollo futuro y mejorará la infraestructura de gasolina de Global para optimizar su presencia en el marketing y el comercio minorista en la zona.
글로벌 파트너스 LP (NYSE:GLP)가 ExxonMobil 오일사에서 로드 아일랜드주 이스트 프로비던스에 있는 액체 에너지 터미널 인수 완료했습니다. 이 터미널은 휘발유, 첨가제, 증류유 및 에탄올 저장을 위해 총 959,730 배럴의 용량을 가진 10개의 제품 탱크를 보유하고 있습니다. 이 시설은 로드 아일랜드, 북부 코네티컷, 남부 매사추세츠 시장을 위해 6개의 트럭 랙이 있는 다리와 장거리 선박을 위한 부두를 포함합니다.此次取引には将来的な開発の可能性がある余分な空き不動産用地も含まれており、グローバルのガソリンインフラが向上し、地域でのマーケティングおよび小売業務のプレゼンスを最適化します。
Global Partners LP (NYSE:GLP) a terminé l'acquisition d'un terminal énergétique liquide à East Providence, Rhode Island auprès d'ExxonMobil Oil. Le terminal comprend 10 réservoirs avec une capacité totale de 959 730 barils pour le stockage de l'essence, des additifs, des distillats et de l'éthanol. L'établissement comprend un quai de camions à six baies desservant les marchés du Rhode Island, du Connecticut nord et du Massachusetts sud, ainsi qu'un quai pour des navires à long portée. L'acquisition comprend également des parcelles immobilières vacantes excédentaires pour un développement futur potentiel et améliorera l'infrastructure d'essence de Global afin d'optimiser sa présence en marketing et au détail dans la région.
Global Partners LP (NYSE:GLP) hat die Übernahme eines Flüssigenergie-Terminals in East Providence, Rhode Island von ExxonMobil Oil abgeschlossen. Das Terminal verfügt über 10 Produkttanks mit einem Gesamtvolumen von 959.730 Barrel zur Lagerung von Benzin, Additiven, Destillaten und Ethanol. Die Einrichtung umfasst eine Lkw-Rampe mit sechs Stellplätzen, die die Märkte von Rhode Island, Nord-Connecticut und Süd-Massachusetts bedient, sowie einen Dock für Langstreckenschiffe. Die Übernahme umfasst auch überschüssige unbebaute Grundstücke für mögliche zukünftige Entwicklungen und wird die Benzininfrastruktur von Global verbessern, um die Marketing- und Einzelhandelspräsenz in der Region zu optimieren.
- Acquisition of strategic storage facility with 959,730-barrel capacity
- Enhanced operational capabilities with six-bay truck rack and large dock
- Additional real estate parcels for potential development
- Strengthened market presence in Rhode Island, Connecticut, and Massachusetts
- Expanded gasoline infrastructure supporting existing retail operations
- None.
Insights
This strategic acquisition significantly enhances Global Partners LP's operational footprint in the Northeast. The 959,730-barrel shell capacity terminal adds substantial storage capabilities and strengthens GLP's vertical integration in the region. The facility's six-bay truck rack and deep-water dock provide important logistics infrastructure, enabling efficient product distribution across Rhode Island, Northern Connecticut and Southern Massachusetts markets.
The deal's value extends beyond immediate operational benefits. The acquisition of surplus real estate parcels presents opportunities for future development and potential revenue diversification. This expansion aligns with GLP's core competency in terminal operations and should generate operational synergies with their existing retail network. The terminal's capability to handle multiple products, including gasoline, distillates and ethanol, positions GLP to better serve regional demand and potentially capture additional market share.
The acquisition's inclusion of surplus vacant real estate parcels in East Providence represents significant untapped value potential. The Rhode Island waterfront location is particularly strategic, offering opportunities for various development scenarios as market conditions evolve. Waterfront commercial properties in the Northeast typically command premium values and the flexibility to repurpose these parcels could provide substantial long-term appreciation potential. The terminal's deep-water dock infrastructure adds significant value to both the current operations and future development possibilities.
The acquisition further strengthens Global’s operational capabilities and supply options in the Northeast
The
"The acquisition of the
The addition of gasoline infrastructure through this transaction will enable Global to optimize its large, active marketing and retail presence in the area. In addition to the terminal, Global will acquire surplus vacant real estate parcels providing long-term opportunities for alternative uses as market dynamics evolve.
Slifka continued, "The additional operational capabilities and supply optionality, along with the potential for real estate development, further deliver our commitment to strategic growth by diversifying our portfolio and capitalizing on assets that leverage our integrated network.”
About Global Partners LP
Building on a legacy that began more than 90 years ago, Global Partners has evolved into a Fortune 500 company and industry-leading integrated owner, supplier, and operator of liquid energy terminals, fueling locations, and guest-focused retail experiences. Global operates or maintains dedicated storage at 54 liquid energy terminals—with connectivity to strategic rail, pipeline, and marine assets— spanning from
Global, a master limited partnership, trades on the New York Stock Exchange under the ticker symbol “GLP.” For additional information, visit www.globalp.com.
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Investors:
Gregory B.
Chief Financial Officer
Global Partners LP
781-894-8800
GLP@investorrelations.com
Media:
Catie Kerns
SVP Corporate Affairs and Sustainability
Global Partners LP
781-894-8800
media@globalp.com
Source: Global Partners LP
FAQ
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