Tianjin Petrochemical Base Construction Highlights RMB268 billion to Build 3 Sets of 10 Million-Graded Petroleum Projects and 10 Sets of One-Dillion-ton Petrochemical Projects

On September 22, the Tianjin Development and Reform Commission announced at a relevant meeting that over the next decade, the city will invest 268 billion yuan to develop three major oil projects with a capacity of 10 million tons each, as well as ten petrochemical projects each with a capacity of one million tons. These initiatives aim to establish three large-scale petrochemical industrial parks, forming more than six enterprise groups with annual sales revenue exceeding 40 billion yuan. The project is expected to generate an annual profit and tax of 80 billion yuan, propelling Tianjin’s petrochemical industry to second place nationally. According to Zhang Dongsheng, director of the Petrochemical Office at the Tianjin Development and Reform Commission, Tianjin is a key national petrochemical base, boasting rich natural resources such as oil, natural gas, and sea salt, along with strong infrastructure like ports and logistics systems. In the country's medium- to long-term plan for oil refining and ethylene production, Tianjin has been designated as a top-tier petrochemical industrial base, with a focus on 10 million tons of refined oil and millions of tons of ethylene. Additionally, the National Petroleum Strategic Reserve Office has selected Tianjin as one of the third batches of crude oil strategic reserve bases, planning to build 10 million tons of crude oil storage facilities and 8 million tons of refined oil reserves. Major domestic petrochemical companies such as PetroChina and Sinopec have expressed strong confidence in Tianjin’s potential, with plans to build large-scale oil refining, ethylene, and liquefied natural gas (LNG) projects. From 2005 to 2015, Tianjin aims to complete three sets of ten-million-ton oil projects, including two large oil refineries and one crude oil strategic reserve facility. It also plans to construct ten one-million-ton petrochemical projects, covering areas such as ethylene, LNG, polyvinyl chloride, polyethylene, and polypropylene. Three major petrochemical zones are being developed: the Dagang Petrochemical and Chemical Fiber Industrial Zone, a world-class integration of ethylene and refining by Sinopec and PetroChina; the Lingang Petrochemical Marine Chemical Zone, led by CNOOC, China National Chemical Industry Group, and Suihua Group, focusing on petrochemicals and salt; and the TEDA Fine Chemicals District, emphasizing low energy consumption, high value, and advanced technology. With these developments, Tianjin is set to become one of the most important petrochemical bases in China, ranking second nationally after Shanghai. On the Asian stage, it is expected to reach the top 10, and globally, it could be among the top 22 petrochemical bases worldwide. This ambitious plan underscores Tianjin’s growing role in China’s energy and chemical industries.

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