OREANDA-NEWS. December 29, 2011. London-listed Fortune Oil PLC, which focuses on investments and operations in oil and gas supply and infrastructure projects in China, said on Wednesday that it has acquired a 2.15% stake in China Gas Holdings Ltd<0384> at a consideration of Ј24.2 million.

 In a statement, Fortune Oil announced it purchased 94 million shares of Hong Kong-listed China Gas in cash. No further details have been disclosed.

 Last week, Fortune Oil said it has signed two agreements to increase its presence in Chinese liquid natural gas or LNG market. Pursuant to the first agreement, the oil company will spend RMB 200 million to build a LNG facility in Xinyang, Henan Province with a daily gas liquefaction capacity of 300,000 cubic meters.

 The British oil company has also inked an agreement with China Yangtze Transportation (Group) Corp to build a LNG station for the partner's terminal in the Yangtze River.

 In Chinese aviation market, Fortune Oil aims to double its airport volume to 30 in Central China and South China via a 24.5%-owned subsidiary South China Bluesky Aviation, in which British oil giant BP PLC also holds a 24.5% stake, sources reported.