동북아 석유물류중심지 조성을 위한 사례 비교연구

Abstract

Northeast Asia (NEA) is the world`s fastest growing region with rapid increase of oil consumption. Within the region, China, Korea, and Japan show great dependency of their oil consumption on foreign imports. While Korea exports its excessive petroleum products to China and Southeast Asian countries, China and Japan import petroleum products from abroad. As a result, trade volume of petroleum is expected to grow continuously in coming decades. Hence, there exist strong opportunities and needs for oil hub in NEA to reap the benefits of these favorable developments and ensure stable oil supply for the countries in the region. The purpose of the study is to examine the possibility of an oil hub in NEA and develop the strategies to fulfill the project. This study reviews key characteristics of world`s major oil hubs in the U.S. Gulf coast, ARA (Antwerp-Rotterdam-Amsterdam) region and Singapore. The study finds that there are three types of oil hubs: i) domestic-bound hub, ii) hinterland-bound hub, and iii) export-oriented hub. The U.S. Gulf coast has total refinery capacity of 7.14 million barrels per day with independent storage capacity of 104.4 million barrels for petroleum products. It serves largely as a domestic-bound hub. ARA oil hub has refinery capacity of 2.0 million barrels per day with most of its oil exports going to hinterlands such as Germany. Singapore oil hub has relatively high export/demand (domestic) ratio that reveals its function as an export-oriented oil hub. It is likely that the potential oil hub of NEA will take the form of mixture between an export-oriented hub and the hinterland-bound one. Korea has total storage capacity of 111.6 million barrels for petroleum products with only small portion of independent storage (only 16.0 million barrels). China has storage capacity of 125.3 million barrels with some additional storage construction plan of 8.4 million barrels. Japan and Taiwan have 153.1 million and 32.5 million barrels storage capacity for petroleum products respectively. NEA`s storage throughput of petroleum products is expected to reach 6.6 billion barrels per year by 2010 that is equivalent to annual increase of 2.6%. It is found that there will be additional storage demands for petroleum products of 339 million barrels in the region by the end of 2007. Thus, there is a good opportunity for the development of the oil hub in Northeast Asia. This study suggests NAOTC(the Northeast Asia OTC Clearing House) as an effective instrument for multilateral cooperation in Northeast Asia.