![]() ![]() For more on this, please read Why rising propane and butane exports affect some US energy MLPs. The basis differential-the purchase at the current market price and sale at the forward month’s price-forms the level of profitability of Cardinal Gas facility and MMLP’s marketing and trading business in general. ![]() The recent spike in propane prices, which negatively affected MMLP’s product cost, is expected to reach a more normal level following the onset of spring and alleviation of interruptions in third-party lines. Through its Corpus Christi processing facility, MMLP is positioning itself to serve the Latin American and Caribbean market. The company purchases low-ethane, propane, and butane from local suppliers and is currently negotiating long-term sales agreements. MMLP has liquefied petroleum gas (or LPG) pressure barges, which are primarily used for product storage in NGL distribution business. This gives visibility to revenues and stability to cash flows. All these facilities have 76% to 100% of their volumes contracted, with terms ranging from one year to about ten years. Cardinal Gas storage has four assets-namely, Arcadia Gas Storage, Perryville Gas Storage, Cadeville Gas Storage, and Monroe Gas Storage. We think it’s good for everybody - except when it blocks traffic.MMLP has a joint venture with Energy Capital Partners and is jointly invested in Cardinal Gas Storage Partners LLC for providing storage facilities across northern Louisiana and Mississippi. John Pardee, owner of the Grafton Inn, which is across from the Common and next to where the train derailed, said, “We love the railroad. Nothing of this size has ever been located in a residential area.” One woman who watched the work to get the train back on track, who did not want to be identified, said, “I don’t want the LPG facility in town. The proposed propane facility has raised vocal objections from many in Grafton, who say that it is in a tight residential area and too close to schools, playgrounds and the town’s water supply. ![]() “Railroads are a necessity, but there’s got to be a better balance between the needs of the railroad and the needs of the community and the people that reside in the community.” “I don’t necessarily agree that this is the proper location for it,” he continued. “I’m not opposed to the facility as long as there is local input from all aspects of town government,” Moore said. Moore, D-Millbury, came to view the derailment site after presenting a state budget update to selectmen. In January, the federal board found that the railroad's right to build a proposed 320,000-gallon propane and transflow facility pre-empts state and local zoning and environmental protection laws. First Circuit Court of Appeals in Boston. McInerney said before the selectmen’s meeting that oral arguments in the town’s appeal of the federal Surface Transportation Board’s ruling in favor of the railroad were scheduled to begin July 28 in the U.S. The tanks were brought to the Grafton & Upton’s rail yard in Hopedale early Tuesday, where they were loaded on two long flatbeds to be transported to Grafton. He attributed the delay to miscommunication between the shipper and the state Department of Transportation, which had planned the route together. According to Pizzi, the train cars with the two giant tanks were unable to navigate a corner in Milford from Congress Street to West Street. The tanks’ delivery had already been delayed over the weekend in Milford. “There was no damage to the track,” Pizzi said. Because the long load was rigid, the wheels lifted up slightly. ![]() He said that the derailment occurred at a spot where the track was slightly concave. Two more tanks are being stored in Fall River until they can be delivered.ĭoug Pizzi, spokesman for the railroad, said afterward that the remaining two tanks will be delivered one at a time, rather than in tandem. The two tanks, which can hold 80,000 gallons each of propane, were being delivered to the Grafton & Upton’s planned 320,000-gallon propane storage and transloading facility on Westboro Road in North Grafton. The cars were back on the tracks and nearing the rail yard about 10 p.m. No one was injured in the incident, although some pavement along the tracks was torn up. North Street was closed for about two hours while crews worked to right the train cars, wedging planks of wood beneath the wheels. when train cars carrying two 120-foot-long propane tanks, en route from the company’s rail yard in Hopedale, went off the tracks near Grafton Common. GRAFTON - Grafton & Upton Railroad CEO Jon Delli Priscoli’s plans to make a presentation to the Board of Selectmen Tuesday were derailed shortly after 6:30 p.m. ![]()
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