The terminal also has a large dock with the ability to accommodate long-range vessels. (Source: Shutterstock)
Global Partners LP has closed on its acquisition of a liquids terminal in East Providence, Rhode Island from Exxon Mobil Oil Corp.
The terminal is strategically located to serve the Rhode Island, Northern Connecticut and Southern Massachusetts markets and has a 959,730-bbl shell capacity featuring 10 product tanks for gasoline, additives, distillates and ethanol.
The terminal also has a large dock with the ability to accommodate long-range vessels.
The acquisition adds gasoline infrastructure to Global Partners’ portfolio in alignment with the company’s strategic goals, President and CEO Eric Slifka said in Global’s Nov. 1 press release.
Global also plans on acquiring additional vacant real estate for alternative uses long term as market dynamics change, Slifka said.
"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,” he said.
The announcement of the closing of the deal did not disclose a purchase price.
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