LNG

March 14 (LNGJ) - Italian oil and gas company Eni said the LNG and energy engineering and construction firm, Saipem, had repaid its debts in full to the Eni Group. Eni had sold 12.5 percent of Saipem in 2015 to the Italian state entity Fondo Strategico Italiano. Eni, which had owned 43 percent of Saipem, sold the stake to FSI as a way of offsetting Saipem’s debt. The construction company’s borrowings had weighed down Eni amid the slump in oil prices. The transaction and debt clearance will reduce Eni’s own net debt by about $5.5Bln.