Maintaining Investor Confidence, PGN Focuses on Market Expansion and Infrastructure in 2024

Jakarta – PT PGN Tbk, a Subholding Gas of Pertamina, is formulating scenarios to continue growing its business, which is reflected in performance growth, to maintain investor trust as the manager of national natural gas utilization. In 2024, PGN continues its focus on market expansion and the development of natural gas infrastructure.

Currently, PGN has an extensive natural gas infrastructure network of approximately 31,705 km of gas pipelines and 4 LNG terminals, to deliver reliable natural gas supply across various regions of Indonesia.

“The most important thing is how to optimize the utilization of domestic gas by encouraging its use in the industrial and commercial sectors, gas distribution, and building transmission and distribution pipelines to create integrated connectivity with the existing pipeline infrastructure that is currently owned by the Subholding Gas. Beyond the pipeline business, natural gas can be directed to meet energy needs in refineries, smelters, and power plants,” said PGN Corporate Secretary Rachmat Hutama, on January 28, 2024.

The expansion of the existing infrastructure will continue and has become part of PGN's priority scenarios, including building transmission, distribution, and regasification infrastructure. PGN will also add infrastructure related to LNG bunkering and the LNG trading business. Accelerating connectivity is pursued to increase gas utilization in both existing and new markets.

LNG is projected to have high value in the supply chain owned by PGN to be distributed to customers and drive revenue in 2024. Therefore, PGN is opening LNG demand and LNG beyond pipeline schemes to serve the retail market.

In addition, it is important to understand that there will be many challenges to increasing profitability amidst the natural gas business ecosystem. PGN's development plans are also expected to actively contribute to the management of oil and gas as planned by the government, especially the role of natural gas in the energy transition. “Optimizing the use of natural gas in the transition period continues with the initiation of new businesses such as biomethane and CO2 transport,” said Rachmat.

PGN continues to strive to maintain investor and market trust in advancing natural gas management in Indonesia. This has become one of the key performance indicators for PGN in maintaining that trust. Therefore, recently, PGN (PGAS stock code) received recognition and won the Best Stock Award 2024 in the BUMN Mid Cap category, organized by Investor Trust and Infovesta Utama.

“We will continue to commit to maintaining strong performance, service innovation, and keeping investor trust. Thank you for the support from all parties who have trusted and supported our journey. The trust from various parties motivates us to continue developing and contributing to optimizing natural gas management and the advancement of the energy sector in Indonesia,” he concluded.

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