China largest refiner Sinopec Corporation has started operations at a new 1.45 million m3 commercial crude storage facilities at Cezi Island in east China’s Zhejiang province, its state-owned parent China Petrochemical Corporation, or Sinopec Group
Prior to the new tanks being built, Sinopec already had 600,000 m3 in storage capacity at the terminal in Zhoushan city.
The storage expansion project, completed at a cost of Yuan 13 billion (€1.5 billion), comprised adding two new tanks of 100,000 m3 each at the existing site, and constructing 12 tanks of 100,000 m3 each and one tank of 50,000 m3 at a new site.
The new storage facilities will greatly boost Sinopec’s capability to meet rising crude oil demand in the eastern region.
The tanks at Cezi Island are one of the two transmission starting points of the 634-km Zhejiang-Shanghai-Nanjing crude pipeline network in the eastern part of the country.
The pipeline is used by Sinopec to deliver up to 43 million mt/year of imported crude to its five refineries in east China.
The other starting point of the pipeline network is from crude tanks at Daxie Island in Ningbo, Zhejiang province.
Sinopec operates five refineries in the east with a total processing capacity of 70 million t/year.
This include the country’s largest 23 million t/year (461,890 b/d) Zhenhai refinery in Zhejiang province; the 13.5 million t/year (271,110 b/d) Jinling and 8 million t/year (160,658 b/d) Yangzi refineries in Jiangsu province; the 14 million t/year (281,151 b/d) Shanghai refinery; and 11.5 million t/year (230,945 b/d) Gaoqiao refinery in Shanghai city.