PGN Records USD 3.65 Billion Revenue Throughout 2023
Jakarta, March 13, 2024 – The financial performance of PT Perusahaan Gas Negara Tbk (PGN) consolidated for 2023, a Gas Subholding of PT Pertamina (Persero), recorded a USD 3.65 billion revenue. Subsequently, the Operating Profit amounted to USD 542.42 million, with the Net Profit for the Current Year Attributable to the Parent Entity amounting to USD 278.1 million.
"We are grateful to have overcome the challenges throughout 2023 with these achievements. This financial performance shows the management's efforts to optimize, be reliable, and secure downstream natural gas businesses while still providing value to shareholders and other stakeholders," said Arief S. Handoko, the President Director of PGN.
Furthermore, in operational achievements in 2023, PGN successfully delivered a commercial volume of 923 BBTUD for industrial, commercial, transportation, and household needs, while the transmission volume in the transportation business amounted to 1,458 MMSCFD. In oil & gas lifting, the produced volume was 25,083 BOEPD, and for oil transportation, there was a significant increase from 38,471 BOEPD in 2022 to 155,775 BOEPD in 2023. In LPG processing, the volume in 2023 amounted to 106 tons per day.
In customer management, PGN’s total customers has reached 830,935 customers, with details of 825,856 households, 3,103 industrial and commercial, and 1,976 small customers. PGN, in its role as a downstream natural gas manager at Pertamina, will continuously carry out operational activities and investments innovatively and prudently to create organic business growth and multiplier effects on the national economy. Additionally, PGN is more focused on the development of environmentally friendly natural gas utilization in the energy transition period towards renewable energy.
"We play a fairly challenging role in the energy transition era from fossil fuels to Renewable Energy Sources (NRE). With a key position as one of the natural gas aggregators in Indonesia, we hope to fill this transition period by providing natural gas as clean energy to the public," concluded Arief.
Similarly, the VP of Corporate Communication of Pertamina, Fadjar Djoko Santoso, stated that PGN's positive performance reflects Pertamina Sub-holding’s success in focusing on developing its business according to its respective roles.
"PGN's business in distributing natural gas in Indonesia is growing, especially in the household gas network infrastructure development to fulfill the public’s needs. In the future, we support PGN's efforts to continue expanding in various natural gas business opportunities, including its efforts to go global," explained Fadjar.
Pertamina, as a leading company in the energy transition, is committed to supporting the Net Zero Emission 2060 target by continuously promoting programs that directly impact the Sustainable Development Goals (SDGs) achievement. All these efforts align with Environmental, Social, and Governance (ESG) implementation across all Pertamina's business lines and operations.**