PGN Subholding Gas Pertamina Records Positive Performance Earning USD 303.8 Million Net Profit in 2021

Jakarta, March 16, 2022 – PT Perusahaan Gas Negara Tbk (PGN), PT Pertamina (Persero) Gas’ Subholding, managed to maintain a positive operational financial performance in 2021 by recording a USD 3,036.1 million revenues, USD 420,32 Million Operating Profit, USD 303.8 million Net Profit for the Year Attributable to the Parent Entity and USD 855 million of EBITDA.

“Alhamdulillah, in a year full of challenges due to COVID-19 pandemic, PGN succeeded in carrying out various government assignments while maintaining health protocols by prioritizing HSSE commitments and safety aspects. PGN also succeeded in maintaining a positive 2021 performance. The recovery of operational performance from economic recovery through the company's strategic efforts during the pandemic has supported PGN's 2021 financial performance. This performance achievement was obtained from the performance of gas distribution volume for the January to December 2021 period, which increased to 871 BBTUD from 828 BBTUD. Meanwhile, the transmission volume during 2021 is 1,352 MMSCFD," M. Haryo Yunianto, President Director of PGN, explained, 15/03/2022.

In addition, the use of LNG (TUA FSRU Lampung Contract) shows an increase in the flow of gas to power plants through to 29 BBTUD. Therefore, there is 900 BBTUD gas distributed through the gas trading scheme and TUA.

Furthermore, the amount of oil and gas lifting volume performance is 4,086 BOEPD and improvement of the average ICP price of USD 68.8 / BBL, oil transportation of 3,543 MBOE, and LPG of 33,831 Tons.

The company also increased its market share by increasing the number of customers in various sectors to 663,877 customers with a pipeline network of 10,776 km.

PGN's consolidated financial position as of December 31, 2021, still shows a good financial position, and the company's ability to meet its short-term obligations is still very good. In terms of Debt Service, it also shows the company's ability to meet sufficient interest and principal payments.

The realization of 2021 CAPEX is USD 308.6 million, which comes from the construction of the Rokan Oil Pipeline, Gresik-Semarang Pipeline, Pangkah WK, Ketapang WK, and other investment activities that are already in the execution stage. It includes Jargas, Senipah-Balikpapan Pipeline, and RU IV Cilacap LNG.

Haryo said PGN as Sub Holding Gas, with the spirit of energizing you, optimizes every opportunity for natural gas through gasification programs. It includes gas, refineries, power plants, industries, maritime and land sectors which are the present and future focus of the company. In addition, the company also focuses on developing environmentally friendly natural gas utilization during the energy transition to renewable energy.

“We play a quite challenging role in the energy transition era from fossil to NRE. From our key position as natural gas aggregators in Indonesia, we hope to be able to fill this transition period by providing clean natural gas energy to the community," Haryo concluded.**