TNAG-0947-FCO40-1166-Oil-developments-in-and-around-Hong-Kong-1980 — Page 160

CONFIDENTIAL

For discussion

on 20th May 1980

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HKK

outs

XCC(80)66

Copy No

MEMORANDUM FOR EXÉCUTIVE COUNCIL

HKK 1621 PROPOSED PRIVATE TREATY GRANT OF A

HKK1621

15 AUG 1980

DIK SESA

INDEX

Intr

SITE AT CHAI WAN TO THE CHINA RESOURCES

COMPANY FOR AN OILSTORAGE DEPOT

oduction A

3

CA jiz

BA

of 40

On 25th March 1980, having considered memorandum XCC(80)34 (annexed), Members advised and the Governor ordered:

(a)

(b)

HKK162/1

7

380

29

10

nnex

that approval be given in principle to the grant by private treaty to the China Resources, Company, of the site shown edged black on the plan at A to the memorandum, on the basic terms in paragraph 13 of the memorandum but subject to (b) below, for construction of an oil storage depot; and

that the conditions of grant should be reviewed in the light of the forthcoming memorandum on strategic oil reserves.

n

G.S. 166

Reserves of Oil Products

2

Memorandum XCC(80)64 on reserves of oil products, which will also be discussed on 20th May 1980, proposes that strategic reserves of fuel oil (apart from fuel oil for bunkering), gas oil and naphtha, equivalent to not less than 30 days' worth of imports minus a company's re-exports of those products during the previous calendar year, should be established on the basis of a code of practice to be agreed between the Government and the oil importing companies. While it is proposed (in paragraph 41 of the memorandum) that land should be granted by private treaty for the oil companies to construct any additional storage facilities to hold these reserves (which would involve the incorporation of suitable restrictions in the Conditions of Grant), there is no intention of imposing any requirements for emergency storage in connection with grants of land for distribution centres such as this grant to the China Resources Company at Chai Wan.

Advice Sought

3

Members will be asked to advise whether the grant by private treaty of this site to the China Resources Company on the basic terms and conditions in paragraph 13 of memorandum XCC(80)34 should be approved.

8th May 1980

(CR 8/711/74 III)

CONFIDENTIAL

COUNCIL CHAMBER

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