The fate of CLP Holdings' controversial plan for a liquefied natural gas processing terminal on the Soko Islands remains up in the air as the government and the power company prepare to resume discussions on the issue. Some financial analysts expect the government to give the green light to the HK$8 billion project to keep CLP's gas-fired Black Point power plant in Tuen Mun going after its gas supply from Hainan dries up early next decade. But sources familiar with the project say approval is not imminent, despite CLP's push for a quick nod to launch the lengthy construction schedule under 2010 emission requirements. 'Both parties agreed to have the details of the new scheme of control finalised first before talking about the liquefied gas project,' the source said. 'It is unlikely we will see any conclusion imminently.' The government said it was reviewing the CLP project and studying alternative gas supply in nearby regions. CLP said its planning on the project had reached an advanced stage and that negotiations with gas suppliers were proceeding well. Brokerages Citi and Credit Suisse expect the government will eventually give the project the green light, despite strong opposition from green groups. The CLP project, if approved, stands to be the first mega-investment under the new regulatory framework due to take effect in October.