Qingdao Longze Gas Co (transliteration) in Shandong is likely to complete the construction of a 500,000-cu-m LPG tank farm in October 2012, according to a source with the company.
This plan is one year behind the company’s previous schedule, the source said.
The company will use this tank farm for the storage of feed gas, residential-consumed LPG and imported LPG, but the proportion is not fixed yet, he said.
It is possible for the company to use most storage capacity for LPG as feedstock for deep processing, as such processing is booming, he said.
Longze Gas started the construction of this tank farm in May 2009 and previously planned to bring it online in late 2011.
The company may apply for bonded storage for this tank farm in the future.
Qingdao Longze Gas is a joint venture between Beijing Beiran Industries Co, Bahamas Dongfang Energy Fuel Supply Co and Beijing Qunying Investment Co (all transliteration), with 66% for Beijing Beiran Industries. The company has a 50,000-dwt jetty in Qingdao.
