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CLP says it'll begin a joint venture with PetroChina to own and operate a natural gas station at Black Point later this year, as the territory switches to a new source of natural gas.

CLP said the project is now underway to receive natural gas from PetroChina's second West-East pipeline to make up for the fast depleting gas source off Hainan Island - the Yacheng field.

It said good progress had been made to complete the modifications to the remaining two out of the eight gas-fired power generators at Black Point to receive gas from the new source.

The power company said it would submit a development plan to the government by the end of June relating to its future expansion plan over the four-year period from next year.

Meanwhile, CLP said local electricity sales fell one percent between January and March from a year ago. Sales to the mainland tumbled 49 percent during the same period. However, the sharp fall was expected as it had agreed to reduce sales to Guangdong Power Grid Corporation.