Global Partners completes acquisition of ExxonMobil terminal in Rhode Island

Global Partners LP announced Nov. 1 that it has successfully completed the acquisition of a liquid-energy terminal in East Providence, Rhode Island, from ExxonMobil.

The East Providence terminal, featuring 10 product tanks with 959,730-barrel (40.3-million-gallon) shell capacity, serves as a strategic storage facility for various products including gasoline, additives, distillates and ethanol.

It includes a six-bay truck rack servicing the Rhode Island, northern Connecticut and southern Massachusetts markets, as well as a large dock with capabilities to accommodate long-range vessels.

“The acquisition of the East Providence terminal aligns perfectly with our strategic goals,” said Eric Slifka, president and CEO of Global Partners LP.

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.

“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,” Slifka said.

Global Partners is a Fortune 500 company with 54 liquid-energy terminals through which it distributes gasoline, distillates, residual oil and renewable fuels to wholesalers, retailers and commercial customers.

In addition, Global owns, operates or supplies more than 1,700 retail locations across the Northeast, Mid-Atlantic and Texas.