Get Gas Allocation, CGAS Predicts Revenue To Increase By IDR 120 Billion Per Year
JAKARTA - The Ministry of Energy and Mineral Resources (ESDM) has officially designated the allocation of natural gas to PT Citra Nusantara Gemilang Tbk (CGAS). Where, it will be used to support the construction of liquefied natural gas (LNG) facilities in the Karawang area, West Java.
The LNG facility in Karawang is targeted to start operating by the end of 2026 and is projected to provide additional CGAS revenue of around IDR 120 billion per year.
"The determination of this gas allocation is a form of government confidence in the readiness of the company's infrastructure and capabilities in supporting a cleaner and more efficient national energy ecosystem," said CGAS President Director Andika Purwonugroho quoting Antara.
As a pioneer in the distribution of compressed natural gas (CNG) in Indonesia, the company is currently expanding its portfolio to LNG as part of the national energy transition.
"With regulatory support and stable supply allocation, we are optimistic that this project will make a significant contribution to long-term income and profitability," said Andika.
He continued that this project will also create significant multiplier effects, including absorption of local workers, increasing economic activity in the area around Karawang, to opening up opportunities for strategic collaboration with various partners, both local and international.
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"With the gas allocation from the Karawang Galian Field, we are ready to enter a new chapter as a strategic player in developing the national LNG infrastructure, as well as strengthening the company's commitment to sustainable and environmentally friendly business growth," said Andika.
As part of the expansion roadmap, he revealed that the company's three CNG stations are scheduled to start operating in 2025, located in Gresik, Grobogan, and Majalengka.
The three stations will strengthen CGAS' position in the national clean energy ecosystem, as well as support the distribution of natural gas more evenly and efficiently in Indonesian territory.