Drop 48.8 Percent, PGN Books Profit Of 62 Million US Dollars In The First Quarter Of 2025

PT Perusahaan Gas Negara Tbk (PGN) posted a net profit of 62.01 million US dollars. This figure decreased by 48.8 percent when compared to the same period the previous year which was recorded at 121.1 million US dollars.

Meanwhile, the company's revenue was recorded at 967 million US dollars or grew 2 percent compared to the same period last year. EBITDA was recorded at 205 million US dollars.

PGN's Corporate Secretary, Fajriyah Usman, said geopolitical pressure, oil price fluctuations and exchange rates both IDR against the US dollar and JPY against USD affected margin profit and the company managed to balance through operational strengthening, optimizing internal funds and efficiency.

"We are responding to market volatility by accelerating strategic projects and maintaining smooth operational benefits so that natural gas benefits will still have a broad impact on the national economy," said Fajriyah, Wednesday, April 30.

He continued, PGN's strategic steps were also strengthened by its stipulation as a Special Rights holder in the Natural Gas Distribution Network Area (WJD) in Batam City by BPH Migas. This appointment opens up opportunities for the development of around 16,000 household, industrial and commercial connections until 2027.

"We are carrying out strategic investments in a sustainable manner so that domestic gas utilization increases and becomes a driving force for national economic growth," continued Fajriyah.

Meanwhile, from an operational perspective, PGN's gas distribution volume was recorded at 861 BBTUD, while transmission reached 1,602 MMSCFD. Infrastructure reliability remains high at the level of 99.9 percent, supporting services to more than 820 thousand customers throughout Indonesia, covering 817,420 households, 2,587 small and 3,291 industrial and commercial customers.

"We continue to focus on efficiency, sustainability of gas supply, and acceleration of strategic projects such as developing household gas networks and LNG infrastructure," said Fajriyah.

In accordance with the policy of Certain Natural Gas Prices (HGBT), piped gas is prioritized to meet the needs of customers of the HGBT recipient industry to support the competitiveness of the national strategic industry.

On the other hand, limited supply of piped gas due to production declines from several upstream fields in the Java and Sumatra regions, encourages PGN to optimize the use of LNG regasification services in Lampung, Arun, and West Java. This is done to maintain the continuity of energy supply, especially for the electricity sector and other commercial industries including non-HGBT customers.

The volume of regasification services through the Usage Agreement Terminal (TUA) of the Lampung FSRU increased to 109 BBTUD, while services through the LNG Arun facility reached 128 BBTUD and FSRU West Java 294 BBTUD.

PGN also recorded contributions in other segments such as oil transportation of 171,943 BOEPD, oil and gas lifting of 16,461 BOEPD, and international LNG trading of 68 BBTUD.