Tianjin to be deveoped into world-class petrochemical industry base and national crude-oil reserve hub within 10 years

Tianjin has been selected for development into a world-class petrochemical industry base and national crude-oil reserve hub within 10 years, with an annual 40 mln ton refining capacity, 2.5 mln tons of ethylene production, and a 30 mln cubic meter (cu m) crude oil reserve, as per Chinadaily. During the 12th Five-Year Plan (2011-2015), intensive efforts are planned to mold Tianjin into a world-class center by 2020, with a crude oil refinery and ethylene cracker in the Nangang Industrial Zone of the Tianjin Economical-Technological Development Area. "With the equipment to produce 1.2 million tons of ethylene annually, Tianjin is already among the highest-rated petrochemical industry cities. The National Development and Reform Committee (NDRC) has agreed to its constructing an ethylene cracker with another 1.2 million ton capacity annually. And the construction of the Sino-Russian 13 mln ton oil refinery project, with a 36.6 bln yuan (US$5.56 bln) investment, is in full swing," He Shushan, head of the administrative committee of Tianjin Economical-Technological Development Area, told China Daily. The Sino-Russian Oriental Petroleum & Chemical (Tianjin) Co Ltd oil refinery will process Russian crude oil, whose products include gasoline, diesel, aviation kerosene and liquefied gas. The project is a major step toward transforming the Nangang Industrial Zone into a world-class petrochemical base and integrated-function area. When it opens, it will have the capacity to generate 62.2 bln yuan in annual sales revenues. In 2010, Sinopec completed and opened China's largest combined refinery and ethylene cracker in Tianjin. The facility, which has world-class equipment, has a capacity of 1 mln tons of ethylene and 10 mln tons of refined oil annually. According to He, a China National Pertoleum Corp (CNPC) 1 million cu m crude-oil commercial reserve project was completed in December and has met the qualifications. Built with a total investment of 980 million yuan, this facility aims to store imported crude oil together with other commercial crude-oil projects of CNPC in Shanshan of the Xinjiang Uygur Autonomous Region, and Lanzhou of Gansu and Tieling of Liaoning provinces. Meanwhile, the construction of a Sinopec crude-oil commercial reserve base in Tianjin began in May, with a planed capacity of 3.2 million cu m, to help satisfy the increasing demand for petroleum resources in North China - especially Beijing, Tianjin, and Hebei province - and ensure national oil security.