China to See Gas Shortfall of 75 bcm in 2015

China is expected to face a natural gas shortfall of 75 billion cubic meters in 2015, said Shanghai Securities News, citing Shi Xi, vice head of Sinopec's Economy and Technology Research Institute's strategy research division.

Country’s production is expected to reach 185 billion cubic meters while demand is likely to be 260 billion cubic meters. Last year, world’s second biggest economy produced more than 102.53 billion cubic meters of gas.. 

Shi said that the situation of LNG oversupply last year has started to reverse, with prices beginning to recover.

According to China Industrial Gas Association, China will complete the construction of 17 LNG terminals during the 12th Five-Year Plan period, with capacity of 65 million tons per year.