China’s NOCs face supply glut in Guangdong

China’s NOCs have invested billions of dollars on supply projects to meet gas demand in Guangdong, but a downturn in demand could sour those investments.

CNOOC's LNG-fired power plant in Huizhou Daya Bay Petrochemical Industrial Park, Guangdong (CNOOC) CNOOC's LNG-fired power plant in Huizhou Daya Bay Petrochemical Industrial Park, Guangdong (CNOOC)

China’s NOCs have invested billions of dollars on supply projects to meet gas demand in Guangdong, but a downturn in demand could sour those investments.