Qingdao Port expands oil reserve capacity by 800,000 cubic meters as China optimizes energy supply Global Times 2023-05-25 13:15

Photo: Courtesy of Qingdao Port

Qingdao Port in East China's Shandong Province, an important energy import and export hub in China, recently completed the final inspection work for a newly-established crude oil storage project with the total capacity of 800,000 cubic meters located at the Dongjiakou Port Area, the Global Times learned from Shandong Port Group, the owner of Qingdao Port.

The project is part of an effort by the region's port group in optimizing the crude oil production layout while securing a streamlined supply of energy to inland areas, the company said.

Covering up to 22,000 square meters, which is the size of more than three football fields, the project consists of eight crude oil storage tanks each around 100,000 cubic meters and related supporting facilities, with a designed annual turnover capacity of six million tons.

The completion of the project will further enhance the crude oil storage capacity of Dongjiakou Port Area of Qingdao Port, and help the port area become a national crude oil reserve base, injecting further momentum into regional energy supplies.

This came just half a year after the second phase of a commercial storage depot for crude oil entered operation at the Dongjiakou Port Area. The project's oil storage capacity is around 2.4 million cubic meters, making it the largest oil tank area in Shandong.

In recent years, China's demand for crude oil has risen sharply. Qingdao Port is an important crude oil import base in the country, and its crude oil imports account for one sixth of the country's total imports, with the imported crude oil mainly sourced from West Africa, South America, the Middle East and the Far East.

The construction of the crude oil tank facility is expected to further inject impetus in accelerating the construction of a world-class sea port.

Source: Global Times

The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.

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