Shanghai starts work on emergency gasoline reserve
2 January 2008
Work has begun on Shanghai's first local emergency gasoline reserve, Xinhua Net reported (in Chinese). The project, known as the Bailian Oil Reservation, will cost US$69 million and is expected to be finished early in 2009. It is located in Shanghai Chemical Industrial Zone in the city's southwest Fengxian District. The reserve will comprise 18 tanks each capable of holding 200,000 cubic meters of gasoline. Annual gasoline turnover will be of 3-4 million cubic meters. The reserve is intended to ease the impact of international oil price fluctuations and seasonal oil shortages.
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