Gulf to Offer Liquefied Natural Gas
According to Gulf, LNG provides a clean alternative fuel to its customers. "Investing in LNG-powered vehicles is an important step for Gulf Oil and for our nation," said Joe Petrowski, CEO of the Cumberland Gulf Group of Cos. "Natural gas can provide significant cost benefits as a transportation fuel source, while burning cleaner and reducing dependence on foreign oil."
Gulf added that it believes in LNG for its own corporate vehicles. The company stated it has already deployed 34 transport trucks that run on LNG.
"We intend to convert more of our fleet and to supply and distribute LNG to our customers," said Laura Scott, Cumberland Gulf's senior vice president of new business ventures. "The economic benefits are remarkable. For example, fleets that have more than 10 vehicles that use at least 20,000 gallons per year in a 'return-to-base operation' can expect to lock in an after-tax internal rate of return in the 20- to 35-percent range."
Gulf Oil LP distributes motor fuels via a network of more than 2,500 U.S. branded gas stations and convenience stores.