Nov 29, 2013 04:44 PM

Gov't Grapples with Shortage of Natural Gas


(Beijing) – Winter has only just started and China's is experiencing its biggest natural gas shortage ever.

At a shareholder's meeting in May, the chairman of China National Petroleum Co. (CNPC), Zhou Jiping, announced that "resources are extremely tight this year."

The company supplies nearly 70 percent of China's natural gas. Zhou said CNPC plans to supply 107 billion cubic meters of natural gas this year, 8 billion short of expected demand. Some research institutions predict the country's shortfall will hit 10 billion cubic meters.

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