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18

Hong Kong to Decide Over Controversial Gas Terminal Construction

Hong Kong needs more time to decide whether to let power utility CLP Holdings Ltd build a controversial liquefied natural gas terminal

Hong Kong needs more time to decide whether to let power utility CLP Holdings Ltd. build a controversial liquefied natural gas terminal, Environment Secretary Edward Yau said Wednesday, Dow Jones reported

Speaking to reporters outside a seminar, Yau reiterated that more negotiations are needed as officials weigh whether CLP can build the LNG terminal on an outlying island.

Environmentalists are objecting to the terminal, which they say would harm marine life.

Credit Suisse said Wednesday it expects the project to be approved before the year's end.

In late June, BG Group PLC (BG.LN) and CLP reached a preliminary agreement on a 20-year deal to supply LNG to the terminal.

-By Chester Yung, Dow Jones Newswires; 852-2802-7002; chester.yung@ dowjones.com

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