Sinopec Corp., China’s energy and chemical company, put the country’s largest petrochemical port into operation by the successful docking and unloading of the New Renown, a very large crude oil carrier (VLCC) from the Middle East.
Specifically, the 338,371 cbm tanker arrived at the new 300,000-tonne crude oil terminal of Sinopec Zhongke Refinery Port, which forms part of the company’s “front terminal, rear plant” production model.
The petrochemical port consists of eight terminals including a 300,000-tonne crude oil berth, 100,000-tonne oil berth and supporting facilities — providing a total capacity of 34 million tonnes per year.
Up to now, it is reported that the 100,000 tonne berth is the largest domestic refined oil terminal with a loading and unloading capacity of 5.61 million tonnes per year. The terminal provides convenient access to refined oil and chemical products for Sinopec’s core domestic market, while also offering direct opportunities for global exports.
The investment for the first phase of the project reached more than ¥40 billion ($5.65 billion) and will add over 10 million tonnes of refined crude oil capacity and 800,000 tonnes of ethylene units per year, in addition to auxiliary supporting facilities. Following its completion, it’s estimated that the output of the refinery will exceed ¥60 billion.
The port is located on the east coast of Zhanjiang, Guangdong Province, the Sinopec Zhongke Refinery Port, part of Zhanjiang Integrated Refinery and Petrochemical Complex — the biggest project of its kind under construction by Sinopec Corp, and a key component of the Guangdong Province’s 13th Five-Year Plan.
Overall, Sinopec states that the final project will be fully competed and put into production by the end of July.
