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Santos to sell Gladstone stake to Petronas

Wed May 28, 2008 11:11pm EDT

Stocks

   

SYDNEY, May 29 (Reuters) - Australian energy firm Santos Ltd (STO.AX) said on Thursday it will sell a 40 percent stake in the Gladstone liquefied natural gas project in Australia to Malaysia's Petronas [PETR.UL].

Petronas will pay $2.5 billion for the stake. (Reporting by Jonathan Standing)



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