JAKARTA - In order to optimize the Land Based LNG Regasification Terminal RU IV Cilacap project, Pertamina Gas Subholding PT PGN Tbk is ready to meet the demand for natural gas to RU IV Cilacap with a total annual gas contract volume of around 51 MMSCFD.
PGN and PT Kilang Pertamina International (KPI) as Subholding Refinery & Petrochemical agreed on the annual contract volume based on the needs of the RU IV Cilacap Refinery of 36 MMSCFD starting in 2024 and the demand for the New Diesel Hydrotreating (New DHT) project of 15 MMSCFD starting in 2026.
PGN's Director of Infrastructure and Technology Achmad Muchtasyar in the signing of the Strategic Initiative Agreement for the Development of the RU IV Cilacap LNG Regasification Terminal, July 25, said that the contract period had also been agreed for 30 years. This contract period is intended to optimize the project's economy and meet the strategic target of fuel cost efficiency at the refinery.
"Referring to efforts to achieve fuel cost savings at RU Cilacap, this is the basis for selecting gas distribution options using the small land based regasification scheme. Pertamina also fully supports this project, so that for the needs of RU IV Cilacap, PGN will utilize Pertamina's LNG portfolio of eight cargoes per years," said Achmad in his statement, Wednesday, July 27.
Achmad continued, for gas distribution to RU IV Cilacap, an LNG Carrier (LNGC) with a size of 19,000 m3 will be used in Phase 1 (2024 - 2025) and a new LNGC build with a size of 35,000 m3 in Phase 2 starting in 2026.
The RU IV Cilacap LNG Regasification Terminal Project will also optimize the Bontang Refinery as an LNG Hub. Therefore, PGN continues to coordinate the scheme for gas distribution to RU IV Cilacap, the use of jetty and land with PT KPI, PT PIS, PT Badak NGL and other related parties according to the project principles, and still prioritizes the synergy aspect of the Pertamina Group. This synergy between Sub Holdings will provide optimal consolidation benefits for the Pertamina Group.
The market potential for distributing LNG to RU IV Cilacap is also quite large, as well as being an entry point for the development of retail LNG in southern Central Java.
"PGN provides the best service in the agreement between PGN and KPI for mutual benefit in the Pertamina Group. Refinery gasification is also PGN's contribution to the national economy, optimization of domestic energy sources, and the achievement of the national energy mix in the energy transition period," concluded Achmad.
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