PGN Subholding Gas Pertamina Recorded Positive Performance And Earned A Net Profit Of 303.8 Million US Dollars In 2021

Illustration. (Photo: Doc. Antara)

JAKARTA - As the Gas Subholding of PT Pertamina (Persero), PT Perusahaan Gas Negara Tbk (PGN) managed to maintain operational performance which has a positive impact on financial performance in 2021, by recording revenues of 3,036.1 million US dollars, operating profit of 420.32 million dollars. US, net profit for the year attributable to the parent company was 303.8 million US dollars and EBITDA was 855 million US dollars.

"In a year that is still full of challenges due to the COVID-19 pandemic, PGN has still succeeded in carrying out various government assignments while maintaining health protocols by prioritizing HSSE commitments and safety aspects," said PGN President Director M. Haryo Yunianto, in a statement, Tuesday, March 15.

"PGN has also succeeded in maintaining a positive 2021 performance. The recovery of operational performance from economic recovery through the company's strategic efforts in the midst of the pandemic has succeeded in supporting PGN's 2021 financial performance. This performance achievement was obtained from the performance of gas distribution volume for the January - December 2021 period which increased to 871 BBTUD from the previous period of 828 BBTUD. Meanwhile, the transmission volume during 2021 was 1,352 MMSCFD," he added.

In addition, there is also an increase in the flow of gas to power plants through the use of LNG itself (TUA FSRU Lampung Contract) to 29 BBTUD so that the total gas distributed through the gas trading scheme and TUA is 900 BBTUD.

Furthermore, for the performance of oil & gas lifting volume of 24,086 BOEPD and improvement of the average ICP price of 68.8 US dollars per BBL, oil transportation of 3,543 MBOE and LPG of 33,831 tons.

The Company was also able to increase its market share by increasing the number of customers in various sectors to 663,877 customers with a pipeline network of 10,776 km.

PGN's consolidated financial position as of December 31, 2021, still shows a good financial position and the company's ability to meet its short-term obligations is still very good. Likewise, in terms of debt service, it also shows the company's ability to meet interest payments and loan principals that are still sufficient.

The realization of capex in 2021 is 308.6 million US dollars, of which comes from the construction of the Rokan Oil Pipeline, Gresik-Semarang Pipeline, Pangkah WK, Ketapang WK, as well as other investment activities that are already in the execution stage such as Jargas, Senipah-Balikpapan Pipeline, and LNG RU IV Cilacap.

Haryo said that in its role as Sub Holding Gas, PGN with the spirit of energizing you, continuously optimizes every opportunity for natural gas through gasification programs, such as gas, refineries, power plants, certain industries, maritime and land sectors which are the focus of the company at this time and forward. In addition, the company also focuses on developing environmentally friendly natural gas utilization during the energy transition to renewable energy.

"We play a quite challenging role in the era of the energy transition from fossil to NRE. From our key position as natural gas aggregators in Indonesia, our hope is to be able to fill this transition period by providing natural gas as clean energy to the community," concluded Haryo.