Oil and Gas Commercial Storage Base of Xuwei New Area Wins Formal Approval from the State Council
From: Lianyungang Daily Updated: 2024-10-25 09:20
Yesterday, it was learned from the Lianyungang Municipal Development and Reform Commission that the application for sea use submitted by Jiangsu Fangyang Industrial Investment Co., Ltd. for the Shenghong Refining and Chemical Integration Supporting Commercial Oil and Gas Storage and Transportation Base Project has successfully received approval from the State Council.
According to reports, the Shenghong Refining and Chemical Integration Supporting Commercial Oil and Gas Storage and Transportation Base Project is located in the Xuwei Port Area of Lianyungang, and is planned to construct tank farms for crude oil, refined oil, chemicals, and cryogenic liquefied products, with a total investment of nearly RMB 10 billion. The project boasts an advantageous geographical location and favorable natural conditions, and will be developed into a large-scale oil and gas storage facility integrating modernization and intelligence.
In October 2021, Lianyungang initiated the application process for the Shenghong Refining and Chemical Integration Supporting Commercial Oil and Gas Storage and Transportation Base Project. In 2023, the project was included as a national major strategic project in relevant documents on the integrated development of the Yangtze River Delta issued by the Leading Group for Advancing the Integrated Development of the Yangtze River Delta Region and the Office of the Central Leading Group for Coordinating Regional Development. Relevant personnel in charge of the Municipal Development and Reform Commission introduced that the project is a concrete measure taken by Lianyungang to implement the requirement of "enhancing crude oil and other energy resource reserve capabilities" outlined in the Notice of the State Council on Printing and Issuing a Package of Policy Measures to Steadily Bolster the Economy.
The Lianyungang Petrochemical Industry Base is one of the seven major petrochemical industry bases in China. In recent years, the base has maintained a robust trend of industrial investment and development, introducing a number of major industrial projects such as the Shenghong Refining and Chemical Integration Project. Upon completion, the Shenghong Refining and Chemical Integration Supporting Commercial Oil and Gas Storage and Transportation Base Project will fully leverage the advantages of industrial agglomeration development in the Lianyungang Petrochemical Industry Base, effectively enhance the logistics and warehousing capabilities of the petrochemical industry base, significantly strengthen energy security in Jiangsu Province and even the Yangtze River Delta region, and actively promote the high-quality development of the coastal petrochemical industry in Jiangsu Province.