Keep A Net Profit Of IDR 4.54 Trillion In The Third Quarter Of 2022, PGN Subholding Gas Pertamina Continues Positive Performance

Illustration. (Photo: Doc. Antara)

JAKARTA - As a Gas Subholding of PT Pertamina (Persero), PT PGN Tbk continued its operational positive performance trend in the third quarter of 2022 and had a positive impact on financial performance in nine months of this year, recording a Net Profit for the Year attributable to the Main Entity of US$310.5 million or Rp.4.54 trillion (exchange rate of Rp. 14,612 per US dollar). Net profit came from revenues of USD 2.6 billion, gross profit of USD 77.0 million, operating profit of USD 480.2 million and EBITDA of USD 935.5 million. "Thank God PGN can continue its positive performance in 2022. The operational performance recovery from economic recovery has succeeded in supporting PGN's financial performance until the third quarter of 2022. The performance of gas trading volume from January to September 2022 reached 8894 BBTUD. Meanwhile, the gas transmission volume in the third quarter of 2022 is 1,343 MMSCFD,” explained the President Director of PT PGN Tbk, M. Haryo Yunianto, Monday 7 November. The increase in the volume of oil and gas lifting in the third quarter of 2022, increased to 30,350 BOEPD as well as a high increase in ICP, including a significant contribution to the financial performance of the first nine months of this year. Furthermore, oil transportation showed a very significant increase in performance which reached 31,413 BOEPD compared to the same period the previous year which only reached 9,301 BOEPD. Likewise, LPG processing performance reached 37,270 tons. PGN has a focus on developing natural gas utilization in order to increase value creation and distribution of natural gas in various regions of Indonesia and go international. "PGN plays a fairly challenging role in the era of the energy transition from fossil to EBT. With a key position as one of the natural gas providers in Indonesia, our hope is that we can fill this transition period through the provision of natural gas as clean energy to the community," concluded Haryo.