Santos expects proceeds from sale of 5% stake in PNG LNG around $1.5 bln

The logo of Australian oil and gas producer Santos Ltd is pictured in Sydney February 15, 2016. REUTERS/Jason Reed

MELBOURNE, Aug 17 (Reuters) - Santos Ltd (STO.AX) expects to reap proceeds from the sale of a 5% stake in PNG LNG in Papua New Guinea "in line with market consensus on valuation", Chief Executive Kevin Gallagher said on Wednesday.

Analysts expect the stake to fetch around $1.5 billion.

Reporting by Sonali Paul; Editing by Jacqueline Wong

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