Global Partners LP President and CEO Eric Slifka said in the partnership’s first quarter earnings report on May 8 that it is “complementing our business with a portfolio of organic growth projects.”
“One of our key initiatives is the transportation and marketing of mid-continent crude by rail through our Albany, NY terminal from North American producing regions such as the Bakken to refiners along the U.S. East Coast,” said Slifka.
Slifka said a rail expansion is currently underway at the partnership’s Albany terminal to increase capacity to more than 150,000 bpd.
“In addition, we are developing a new rail-fed propane facility in Albany and pursuing other projects designed to leverage our expertise in purchasing, logistics, transportation, storage and marketing of petroleum products and other commodities.”
Waltham, Massachusetts based-Global Partners LP owns, controls or has access to one of the largest terminal networks of refined petroleum products and renewable fuels in the Northeast.
The partnership is one of the largest wholesale distributors of gasoline—including blendstocks such as ethanol and naphtha, distillates—such as home heating oil, diesel and kerosene—residual oil and renewable fuels to wholesalers, retailers, and commercial customers in the New England states and in New York. In addition, the partnership has a portfolio of approximately 800 gas stations in nine northeastern states and is a distributor of natural gas and crude oil.