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CNPC sees biggest ever natural gas shortage

China’s largest supplier of natural gas, China National Petroleum Corp., has stated that the country will experience one of its biggest natural gas shortages ever in 2013, Caixin reported. The Beijing-based company, which supplies nearly 70% of China’s natural gas, plans to deliver 107 billion cubic meters of natural gas this year, eight billion tons short of expected demand. Some research institutions predict the country’s shortfall will hit 10 billion cubic meters. Seasonal factors and sustained smog have both played a role in the shortage.

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