PGN Records USD 3.65 Billion Revenue in 2023

Jakarta – PT Perusahaan Gas Negara Tbk (PGN), a Subholding Gas of PT Pertamina (Persero), reported consolidated financial performance for the year 2023, recording revenue of USD 3.65 billion. Operating profit amounted to USD 542.42 million, and net income attributable to the parent entity was USD 278.1 million.

“We are grateful to have navigated the challenges of 2023 with these achievements. This financial performance reflects the management’s efforts to optimally manage the downstream natural gas business in a reliable, safe, and value-generating manner for our shareholders and other stakeholders,” said Arief S. Handoko, President Director of PGN.

In operational achievements for 2023, PGN successfully delivered a trading volume of 923 BBTUD for the industrial, commercial, transportation, and residential sectors, while the transmission volume for the transportation business reached 1,458 MMSCFD. Regarding oil and gas lifting, the volume produced was 25,083 BOEPD, and oil transportation saw a significant increase from 38,471 BOEPD in 2022 to 155,775 BOEPD in 2023. The LPG processing volume for 2023 was recorded at 106 tons per day.

In customer management, PGN’s customer base reached 830,935 customers, comprising 825,856 households, 3,103 industries and commercial establishments, and 1,976 small customers. As the downstream natural gas manager at Pertamina, PGN continues to carry out its operational and investment activities innovatively and prudently to foster organic business growth and create a multiplier effect on the national economy. PGN is also focused on the development of environmentally friendly natural gas utilization during the energy transition towards renewable energy.

“We are playing a challenging role in the energy transition from fossil fuels to renewable energy. With our key position as one of the aggregators of natural gas in Indonesia, we hope to contribute to this transition by providing clean natural gas energy to the public,” Arief concluded.

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