CNPC, Stolt-Nielsen and Tianjin Huirong to Build 100 Tanks Near Beijing

---

Researched by Industrial Info Resources (Sugar Land, Texas)--China National Petroleum Corporation (CNPC) (Beijing) announced on April 24, 2008, that it will build more than 100 tanks in the coastal city of Tianjin near Beijing with Stolt-Nielsen S.A. (Rotterdam, The Netherlands) and Tianjin Huirong Petroleum Company Limited (Tianjin). The tanks will be designed mainly for containing oil, but some will be used for other purposes.

According to the plan, CNPC will invest $714.3 million ($1 = 7 RMB) to build 20 100,000-cubic-meter tanks for crude oil and 20 50,000-cubic-meter tanks for product oil. Construction on the tank farm project, which involves a total of 800,000 square meters, will start in May. It is expected to be in operation in June 2009. The tank project will be located in Tianjin's Binhai New Zone where two other large tank projects, pipelines and other logistics devices are planned. The three projects will cover a total of 1.35 million square meters. The total capacity will exceed 2 million cubic meters or 12.58 million barrels.

Stolt-Nielsen will soon finish its first-phase construction of 64 230,000-cubic-meter oil tanks. It also plans to build more tanks to increase the capacity to 1 million cubic meters from 2008 to 2011, but details on the project were not revealed. A CNPC news release states that an advanced supervision system will be used to guarantee safety and that environmental protection methods will also be adopted to ensure that all waste water and gas are treated properly.

Tianjin Huirong will build a 133,000-cubic-meter petrochemical storage, an oil pipeline linking the tanks and the port. The tanks will not only product oil and crude oil, but also chemical liquid, petrochemical product, animal and vegetable oil, and gas.

Industrial Info Resources (IIR) is a marketing information service specializing in industrial process, energy and financial related markets with products and services ranging from industry news, analytics, forecasting, plant and project databases, as well as multimedia services.