Gas trading will account for 80-85% of Kaztransgas’s revenues by 2020 compared with 67% in 2017, according to S&P Global Ratings.
The increase will be driven by higher gas flows to China. As a 100% subsidiary of Kazmunaigas, Kaztransgas can be viewed as stable, said S&P.
However, the company’s financial metrics have been weakened by an expanded investment programme, S&P said.
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