12 May 2010 08:10 [Source: ICIS news]
SHANGHAI (ICIS news)--China’s Sinopec has begun construction of a commercial crude oil reserve base in northern Tianjin with a storage capacity of 3.2m cubic metres (cbm), the company said on Wednesday.
The base would include 32 reserve tanks with a capacity of 100,000 cbm each, Sinopec said.
A 22km crude oil pipeline would be built to transport oil to tanks, the company said.
Construction work, which began on 11 May, was expected to take two years, the company added.
"The base in Tianjin will help to stabilise fuel supply in north China that has an important significance in ensuring the country’s crude oil supply security,” Wang Tianpu, president of Sinopec, said at the base’s ground-breaking ceremony.Read John Richardson and Malini Hariharan's blog - Asian Chemical Connections
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|