Amid Global Uncertainty Due To The Pandemic, Pertamina Gas Subholding Earns Profits In Quarter III 2021

Illustration- Gas subholding PT Pertamina, PT PGN Tbk through its subsidiary PT Pertamina Gas (Pertagas), inaugurated the construction of a gas pipeline. ANTARA/HO-Pertagas

JAKARTA - PT PGN Tbk as the Gas Subholding PT Pertamina (Persero) continues to improve operational performance by showing a positive trend in the third quarter of 2021.

The subholding gas group managed to record revenues of US$2,254.3 million, Operating Profit of US$326 million and also managed to achieve an increase in profit attributable to the parent to US$286.2 million.

With this record, the income of the gas subholding group increased compared to the same period in 2020 by 53.3 million US dollars.

PGN's President Director, M. Haryo Yunianto stated, in the third quarter of 2021, PGN can maintain an increase in operational performance with a positive trend through strategic efforts taken by the company amid the uncertainty of global and national conditions due to the pandemic.

This performance was recorded from the performance of gas trading volume during the January-September 2021 period of 873 BBTUD and an increase compared to the gas trading volume in the third quarter of 2020 of 812 BBTUD (YoY). The transmission volume for the same period in 2021 is 1,238 MMSCFD.

"With the spirit of energizing you, PGN tries to optimize every natural gas opportunity through gasification programs for gas, refineries, power plants, certain industries, retail and certain industries, maritime and land sectors, which are the company's current and future focus," said Haryo. Yunianto in an electronic message received, Saturday, October 30.

In addition, PGN recorded an upstream volume of 6.46 MMBOE, Regasification of 88 BBTUD, LPG Processing of 101 TPD, and Oil Transport of 9,301 BOEPD.

The Company is also able to increase its market share by increasing the number of customers in various sectors and until the third quarter of 2021 has served more than 600,000 customers with a natural gas pipeline network covering more than 10,760 km.

"The restructuring program for Holding Oil and Gas has also shown positive developments for improving the performance of Subholding Gas, including the integration and optimization of energy services within the Holding Oil and Gas group," said Haryo.