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Global Partners signs pipeline connection agreement

Global Partners LP

Global Partners LP (NYSE: GLP) reports that Basin Transload LLC, its 60% owned subsidiary, has executed a pipeline connection agreement with Tesoro High Plains Pipeline Co. LLC, a subsidiary of Tesoro Logistics LP, whereby Tesoro Logistics will build, own, and operate a new 4.1-mile pipeline lateral from its Dunn Center Station to Basin Transload’s facility in Beulah, North Dakota.

Crude oil is expected to begin flowing to the Beulah destination in the fourth quarter of 2014, enhancing the facility’s ability to source product from a broader region. The Beulah facility includes 280,000 barrels of storage capacity and connects via direct long-haul service to the West and Gulf coasts via BNSF.

“Basin Transload’s agreement with Tesoro Logistics broadens the Beulah facility’s access to energy production in North Dakota,” said Eric Slifka, president and CEO of Global Partners. “The pipeline connection will augment the volume of crude currently being transported from the wellhead to Beulah. The addition of pipeline access enhances the ratability of the terminal.”

 

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