PIS and KARPOWERSHIP Establish Partnership to Develop Clean Energy Infrastructure in Indonesia

Dubai, December 2, 2023 – PT Pertamina International Shipping (PIS), a Sub Holding Integrated Marine Logistics (SH IML) under PT Pertamina (Persero), and KARPOWERSHIP have officially entered into a partnership with the renowned Turkish company, KARPOWERSHIP. This collaboration marks a breakthrough in cooperation for clean energy infrastructure development, aiming to meet the needs of Indonesia and the regional and global energy demands.

The signing of this partnership coincided with the UNFCCC COP-28 conference, symbolizing the joint commitment of both companies to provide environmentally friendly energy to mitigate global warming to 1.5 degrees Celsius.

The agreement was signed by PIS CEO Yoki Firnandi and KARPOWERSHIP's Founding Partner, Nuri Dogan Karadeniz, and witnessed by the Secretary of the Ministry of State-Owned Enterprises, Rabin Indrajad Hattari, and the President Director of PT Pertamina (Persero), Nicke Widyawati.

With this agreement, both companies will explore business opportunities to bring innovations to the energy landscape, especially in Indonesia. The main focus areas of this collaboration include power-generating ships with state-of-the-art powership technology, the development of liquefied natural gas infrastructure such as Floating Liquified Natural Gas (FLNG), LNG infrastructure projects including Floating Storage Regasification Unit (FSRU), and LNG distribution.

In supporting sustainable energy transition commitment, both parties will collaborate on extensive studies in the infrastructure, facilities, and transportation development of new renewable energy sources, including hydrogen, ammonia, methanol, biofuel, and more.

Secretary of the Ministry of SOE, Rabin Indrajad Hattari, who witnessed this historic moment, stated that this collaboration is a business partnership and commitment to preserving the planet and future generations. "Pertamina, a pride of Indonesia in the energy sector, today takes another significant leap with its business partners towards sustainable business," he said.

Nicke Widyawati, President Director of PT Pertamina (Persero), explained that the collaboration between PIS and KARPOWERSHIP is a form of commitment to energy transition to support Net Zero Emission 2060. "The collaboration is about existing businesses and exploring other business potentials to optimize existing assets, such as floating mini-LNG facilities and CNG. We believe this development is a key to energy transition, as gas became a bridge to renewable energy," Nicke said.

The CEO of PIS, Yoki Firnandi, added that this partnership is about seeking business opportunities and driving the company's acceleration in realizing its long-term vision. "Collaborating with a global company is another achievement for PIS to truly become a renowned maritime shipping and logistics company on a global scale."

This collaborative effort is poised to bring about positive changes in the energy sector by combining KARPOWERSHIP's expertise in efficient modular power generation with PIS's commitment to supporting a sustainable energy transition. The partnership is also expected to create a flexible framework for both parties to explore profitable businesses, contribute to Indonesia's economic development, and accelerate the global transition to cleaner and sustainable energy sources.**