Source: Reuters Author: 04/07/2009
Subject Concerned: Aviation Fuel
China National Aviation Fuel Holding (CNAF), China's near monopoly in jet fuel distribution, is adding 140,000 cubic metres (882,000 barrels) of storage tank capacity in Shanghai and plans more in the next couple of years, an official newspaper said on Apr. 7.
CNAF will complete building the 882,000-barrel of tank capacity next year in the Chinese financial hub, and plans to more than double the facility by 2011 to store 1.9 million barrels of aviation fuel, Shanghai Securities News said.
CNAF, which supplies aviation fuel at more than 100 Chinese airports, operates a total storage capacity of 1.86 million cubic metres, or 11.7 million barrels, according to the company's website (www.cnaf.com).
The state-run company, parent of Singapore-based China Aviation Oil Corp, has been expanding its storage facilities in recent years, as China's jet fuel demand has grown fastest among transportation fuels.