Guangdong Province, China's economic powerhouse, may soon play host to new national oil reserve bases.

The central government has been assessing the plan to ease Guangdong's energy shortage, the provincial energy officials were quoted by Tuesday's China Daily as saying. Guangdong consumes nearly one-third of the country's annual oil import.

"We had the plan to ensure the province's energy security by becoming involved with the country's oil strategy reserve program, " Xie Zhuoqun, energy division director of the Provincial Development and Reform Commission.

The State Council Energy Leading Group refused to comment on the plan, only saying the country has started to choose new sites for oil reserve bases after completing the four it decided upon in 2005.

None of the sites have been related to the Pearl River Delta, which produces nearly one-tenth of China's economic output. Three of them are in East China's Zhejiang and Shandong provinces, while the other is in northeast China's Liaoning Province.

Provincial think-tank researchers said the plan is important to sustain regional economic development.

The planned strategic reserves will satisfy a half-year's demand of the province, while currently oil storage in Guangdong can feed the province for only a week, according to industry insiders.

Source: Xinhua