China: Sinopec HK acquires BP Zhuhai's LPG tank farm: market sources

Chemical News: China: Sinopec HK acquires BP Zhuhai's LPG tank farm: market sources

https://www.chemnet.com Aug 04,2010
Sinopec Hong Kong has acquired BP Zhuhai's 200,000-cu-m underground tank farm for refrigerated LPG at US$100-mil, according to some market sources in South China.

Sinopec HK may take delivery of the tank farm in September, they said.
Sinopec HK probably bought this tank farm for LPG re-exports, and it can also build up stockpile with the tank farm, a market source noted.

A source with BP Zhuhai said the company had not got notice about this deal, but he heard that both parties might have reached some preliminary agreements.
As a major terminal in South China, BP Zhuhai was the fourth largest LPG importer in China in 2009, but it slashed LPG imports by 58.2% year-on-year to about 104,000mt in the first six months of 2010, some data shows.

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