Pertamina Subsidiary, Regas Nusantara Raises Revenue Of USD 81 Million

Rupiah (Photo: Antara)

The General Meeting of Shareholders (GMS) of PT Nusantara Regas recorded revenue of USD 81.08 million from the results of LNG regasification services using the West Java floating storage and regasification unit (FSRU) facility.

In its operating performance, the Nusantara Regas has distributed 89.54 million MMBTU gas from the receipt of 32.45 LNG cargoes for vital power plants in the Jakarta and West Java regions. Nusantara Regas also proved the reliability of operations with the achievement of Plant Availability Factor reaching 97.37 percent and Plant Thermal Efficiency reaching 98.54 percent. From its initial operation in 2011 to 2023, the Nusantara Regas managed to record 12,564,153 safe working hours which proved its serious and consistent HSSE implementation commitment.

"This 2023 shining achievement is proof of our efforts to provide added value for stakeholders. We are grateful for the support of Shareholders, the Board of Commissioners, the Nusantara Regas Officers and all business partners. This makes us optimistic about achieving even better achievements," said the President Director of PT Nusantara Regas, Mohd. Iskandar Mirza in a written statement, Wednesday, May 22.

In order to expand its business, in the future NR will focus on developing the Company's steps as a provider of retail LNG gas infrastructure in Indonesia to encourage the use of environmentally friendly energy. NR will also integrate its facilities with Pertamina Gas Subholding to support energy security for the community.

"We believe that LNG is the future of Indonesia's energy and energy resilience and availability can no longer be negotiated. We are very confident that we can take on a big role, one of which is the provision of LNG Bunkering and Breakbulking facilities so as to support Indonesia's energy independence. This adds to our portfolio, which was previously the company that operated the first FSRU in Southeast Asia," Mirza added.

Vice President of Corporate Communication of PT Pertamina (Persero), Fadjar Djoko Santoso said that Pertamina continues to encourage the performance of the gas business as a transition energy managed by Gas Subholding and all its subsidiaries.

"The positive performance of Nusantara Regas as a subsidiary of PGN will strengthen Pertamina's gas business in the energy transition era," added Fadjar.

In 2023, NR recorded various award achievements related to Cost Optimization, one of which was Best Collaboration with PT Pertamina Trans Kontinental, Cost Optimization in 2022 and Cost Saving in the Pertamina Gas Subholding environment. A number of prestigious awards in the fields of HSSE, CSR, Governance, Risk and Compliance were also obtained by the Company.

Nusantara Regas is an affiliate of PT Pertamina (Persero) which was founded with PT Perusahaan Gas Negara, Tbk, which plays a role in operating the West Java Floating Storage & Regasification Unit (FSRU) in the waters of Jakarta Bay, underwater pipes, and Onshore Receiving Facility Muara Karang, DKI Jakarta. This facility accepts and processes LNG for the energy of three power plants that have a vital role in Jakarta and West Java.

Pertamina as a leading company in the field of energy transition, is committed to supporting the Net Zero Emission 2060 target by continuing to encourage programs that have a direct impact on the achievement of the Sustainable Development Goals (SDGs). All these efforts are in line with the implementation of Environmental, Social & Governance (ESG) in all business lines and operations of Pertamina.