Market Overview

TravelCenters of America, Shell Announce Pact to Create Nat-Gas Refueling Network


TravelCenters of America LLC (NYSE: TA) announced today that it has entered a definitive agreement with Shell Oil Products U.S. to construct and operate a network of natural gas fueling lanes at TravelCenters locations along the U.S. Interstate Highway System.

The agreement provides that Shell will construct at least two natural gas fueling lanes for large over the road trucks and related storage capacity at up to 100 TA and Petro Stopping Center locations, at Shell's cost, within several years. Shell has agreed to supply natural gas fuel to these locations and Shell and TA will separately market natural gas fuel to their respective customers.

The agreement's focus is on liquid natural gas, or LNG. TA expects to monitor customer demand for natural gas fuels and, if appropriate, may adjust its plans to include dispensing of compressed natural gas, or CNG.

Thomas M. O'Brien, President & CEO of TravelCenters of America, commented as follows:

“I am pleased to have finalized an agreement between TA and Shell for natural gas fueling. The agreement, for TA, represents a prudent approach to an emerging market. Over time, TA believes natural gas will become a significant fuel for the trucking industry. Both TA and Shell have been working diligently on site selection, and I am hopeful that our first locations may be operational within one year's time.”

Posted-In: News


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