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Shandong's First Major Energy Construction Project in 2025 Put into Operation

Source：Haibao News 01-13-2025 09:00:00

Recently, the Yantai Port West Port Area crude oil storage zone, which covers an area of 3 million cubic meters, officially commenced operations after passing final qualification approval. This project marks the first to be put into operation among Shandong Province's major energy construction projects for 2025, achieving a positive start for the province's energy system construction.

The project is expected to significantly enhance Yantai Port West Port Area's crude oil storage system and capacity. Beyond providing storage solutions for regional petrochemical enterprises' raw materials, including crude oil, fuel oil, and diluted asphalt, the project will reduce logistics costs for these enterprises. Moreover, it will further diversify new business models in the port area, such as crude oil blending, long-term trade leasing, bonded storage, and futures delivery, and explore more value-added services.

In addition, Yantai Port focuses on building an internationally leading smart and green port. To this end, Yantai Port will strengthen digital and intelligent empowerment in energy science and technology innovation, actively explore and implement a new development path of smart and green demonstration ports for bulk liquid cargo, and accelerate the cultivation of new quality productive forces in the energy field.