July 29, 2011 [Sinopecnews/TankTerminals.com] - China has completed the Phase I of the national strategic petroleum reserve project and progressing on the construction of Phase II.
All four terminals with a total storage capacity of 16,4 mln m³ being built within the Phase I project are now commissioned and fully operational.
According to the industry source, 8 facilities of the Phase II project will be built at the following locations: Zhanjiang (Guangdong), Huizhou (Guangdong), Lanzhou (Gansu), Jintan (Jiangsu), Jinzhou (Liaoning), Tianjin, Dushanzi (Xinjiang) and Shanshan (Xinjiang).
On July 25, the official of Tianjin Petrochemical Industry Planning Office said that the construction of Tianjin Strategic Crude Reserve Terminal is already in progress. A 3,2 mln-m³ terminal is being built by Sinopec Group. At the same time, Sinopec will build for its own use another 3.2 mln m³ commercial crude reserve terminal and 2 mln m³ commercial oil product reserve, with total investment of 10 billion yuan.
The Phase I of Xinjiang Shanshan Crude Reserve Terminal is already operational since 2008. This is the first facility of the Phase II project that receives crude. The total investment of Shanshan terminal is RMB 6.5 billion yuan. Upon completion, the terminal will have total 8 mln m³ storage capacity.
