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The threat of the walkout comes on the back of problems at the negotiation table between PetroChina and its international partners. Reports in the media have indicated discussions between PetroChina and Shell have, apparently, been particularly bad.
According to HKCG MD Alfred Chan, “Shell Group [have] not contacted Hong Kong & China Gas to formally state that they were pulling out of the project [but] Shell has told us that negotiations have not been progressing well.”
“We will not go it alone [on the project] without a foreign partner,” added Chan.
Royal Dutch/Shell Group and HKCG currently hold a joint 15% stake in the 3,900 km gas pipeline.
