The partnership has entered into agreements with New England Petroleum Terminal, at a deepwater marine terminal located at the Port of Providence.
Global’s Providence terminal is slated to open for business in December 2007 and will provide the partnership with approximately 244,000 barrels of dedicated storage for distillates and biofuels. In addition, Global is building approximately 230,000 barrels of dedicated storage for residual fuels, which are scheduled to be available in the first half of 2008.
Eric Slifka, president and CEO of Global Partners, said: This strategically located terminal enables us to attract new business and more effectively serve existing customers in Rhode Island and southeastern Massachusetts. The assets complement our existing terminal portfolio, open new organic growth opportunities and extend our leadership position in the northeast.
