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Gas distributor China Gas Holdings Ltd (0384.HK) plans to buy London-listed Fortune Oil's (FOOI.L) gas business in China for HK$3.1 billion (247.5 million pounds), sources with knowledge of the deal said on Monday.
The deal is part of an asset restructuring at China Gas, the sources said. They declined to be identified as they were not authorised to speak to the media.
Shares of China Gas was suspended on Monday morning. Both China Gas and Fortune Oil declined to comment.reuters.com
Unconventional natural gas has become a global hotspot. It is changing the pattern of the world energy. Shale gas will become one of the three energy resources in the next 20 years. Read More >
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