LNG

May 9 (LNGJ) - Italian energy and liquefied natural gas construction and engineering company Saipem said US credit rating agency Standard & Poor's had reduced its long-term rating to “BB+” with negative outlook from the previous “BBB-“ with a stable outlook. Saipem’s recent LNG contracts have included laying the 880-kilometre feed-gas pipeline for the Ichthys LNG project in Australia and building a new liquefaction Train in Algeria.