Fitch monitors Kazakh oil, gas companies

Fitch Ratings said that Kazakhstani oil and gas pipeline operators are embarking on intensive investment programs over the next five years to capitalize on both favorable oil and gas industry fundamentals and demand from a rapidly growing Kazakh economy.

While the credit impact of these programs will be more pronounced in the short-term, it could be limited in the long-run based on the nature of projects funding, Fitch said.

KazTransGas (rated BB with stable view) has increased capital expenditure plans with a view to investing more than $8 billion in the construction of three gas pipelines

KazTransOil (rated BBB- with stable view) intends to invest more than $2 billion in the construction of two new oil pipelines.

Fitch said it will continue to monitor how these pipeline projects are financed.

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