Global Partners LP (NYSE: GLP), a FORTUNE 500® midstream logistics and marketing company, has entered into an agreement with OsComp Systems, Inc. to provide compressed natural gas (CNG) via truck to commercial, industrial and municipal customers in New England. The agreement combines Global’s unique capabilities as a leader in the supply, marketing and distribution of energy products with the technology expertise of OsComp, a privately held company based in Houston, Texas. OsComp’s proprietary compression technology is designed to dramatically reduce the energy required to compress and transport natural gas, enabling the efficient, cost-effective delivery of the product to power plants, hospitals, businesses and other large energy users that are not directly connected to the natural gas transmission and distribution grid. “Our strategic alliance with OsComp provides us with new and innovative technologies that we believe will directly benefit our customers through reduced capital expenses, lower maintenance costs and higher efficiency, resulting in lower overall costs,” said Eric Slifka, the Partnership’s President and Chief Executive Officer. “OsComp’s technology is installed, operating and proven. Through its turnkey CNG system, OsComp is successfully delivering gas to customers in the oilfield though a natural gas virtual pipeline that includes trailers and unloaders. Utilizing OsComp’s superior technology and engineering expertise, Global and OsComp together will deliver a highly customized solution that provides safe, convenient and cost-effective access to natural gas for business customers that are not near a pipeline.” “This relationship leverages Global’s leadership in gathering, storage, transportation and strong marketing relationships throughout the New England market to make our turnkey CNG solution commercially available to New England businesses,” said OsComp Founder and Chief Executive Officer Pedro Santos. “For large users, we believe that our CNG solutions have the potential to create an immediate energy savings of up to 30 to 40 percent. Our technology is a ‘virtual’ natural gas pipeline that benefits customers in two distinct ways. First, our system delivers better economics through decreased capital investment, lower delivered costs and fast, easy and cost efficient infrastructure development. Second, our system offers greater flexibility, allowing a customer to adjust capacity as needed. Natural gas is a clean and versatile energy source that can help make businesses more competitive.”
OsComp’s CNG virtual pipeline model incorporates its “Rapid Fill”™ compression technology. Rapid Fill enables CNG trailers to be filled in excess of four times faster than conventional filling systems. Faster turn-around time results in lower costs and thus lower energy prices for the end customer. OsComp has a broad portfolio of patented and patent-pending innovations that will reduce cost and increase efficiency of the trucked CNG system. Pending regulatory approval, the first compressor stations are planned for the summer of 2013.About Global Partners LP A publicly traded master limited partnership, Global Partners LP is a midstream logistics and marketing company. Global is a leader in the logistics of transporting Bakken and Canadian crude oil and other energy products via rail, establishing a ‘virtual pipeline’ from the mid-continent region of the U.S. and Canada to refiners and other customers on the East and West coasts. Global owns, controls or has access to one of the largest terminal networks of petroleum products and renewable fuels in the Northeast, and is one of the largest wholesale distributors of gasoline, distillates, residual oil and renewable fuels to wholesalers, retailers and commercial customers in New England and New York. With a portfolio of approximately 1,000 locations in nine states, the Partnership is also one of the largest independent owners, suppliers and operators of gasoline stations and convenience stores in the Northeast. In addition, the Partnership is a distributor of natural gas. Global is No. 182 in the Fortune 500 list of America’s largest corporations. Forward-looking Statements Some of the information contained in this news release may contain forward-looking statements. Forward-looking statements include, without limitation, any statement that may project, indicate or imply future results, events, performance or achievements, and may contain the words “may,” “believe,” “should,” “could,” “expect,” “anticipate,” “plan,” “intend,” “estimate,” “continue,” “will likely result,” or other similar expressions. In addition, any statement made by Global Partners LP’s management concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects and possible actions by Global Partners LP or its subsidiaries are also forward-looking statements.
Although Global Partners LP believes these forward-looking statements are reasonable as and when made, there may be events in the future that Global Partners LP is not able to predict accurately or control, and there can be no assurance that future developments affecting Global Partners LP’s business will be those that it anticipates.For additional information about risks and uncertainties that could cause actual results to differ materially from the expectations Global Partners LP describes in its forward-looking statements, please refer to Global Partners LP’s Annual Report on Form 10-K for the year ended December 31, 2011 and subsequent filings the Partnership makes with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date on which they are made. Global Partners LP expressly disclaims any obligation or undertaking to update forward-looking statements to reflect any change in its expectations or beliefs or any change in events, conditions or circumstances on which any forward-looking statement is based.