PGN and Conrad Energy Explore Domestic Natural Gas Supply Potential from Aceh

Jakarta – PT Perusahaan Gas Negara Tbk (PGN), a Subholding of Pertamina, and Conrad Energy Asia Ltd. have signed a commitment to supply natural gas/LNG and develop gas/LNG infrastructure. This potential is located along the coast of Aceh and is currently in the exploration phase.

The cooperation between PGN and Conrad was formalized in a Memorandum of Understanding (MOU) signed by PGN’s Director of Strategy and Business Development, Rosa Permata Sari, and Conrad’s Managing Director & CEO, Miltos Xynogalas, on Thursday (29/2/2024) at PGN’s office in Jakarta.

Marthunis, Head of DPMPTSM Aceh, representing the Acting Governor of Aceh, stated that the cooperation between PGN and Conrad is a milestone in the development of oil and gas fields in Aceh. The utilization of oil and gas resources can expand in western Aceh, potentially becoming an economic driver for the surrounding community.

“While PGN has been operating in eastern Aceh, we hope this project will establish PGN’s footprint in the western region of Aceh. We, from the government, will oversee and facilitate each process, ensuring that we receive support from the community,” said Marthunis on (29/2).

“This cooperation is important for us to ensure the continuity of natural gas supply across various customer sectors. With the potential gas sources from Aceh, this collaboration will harness domestic gas supplies for future needs,” said Rosa Permata Sari, Director of Strategy and Business Development at PGN.

Rosa hopes that the cooperation will proceed smoothly and comprehensively to reach a commercial agreement for natural gas. As a result, PGN's natural gas supply can be maintained while bridging the gap between domestic gas sources and consumers in various regions.

“We welcome the agreement with Conrad and look forward to moving towards the implementation phase, with strong support from the Aceh Government. Moving forward, gas will play a key role in supporting the government's Net Zero Emissions target by 2060,” Rosa added.

Conrad’s Managing Director & CEO, Miltos Xynogalas, noted that the collaboration with PGN is crucial to delivering natural gas to the market effectively. “With our technology, we hope to monetize both gas and LNG together with PGN for the market. We are also ambitious about delivering cleaner energy. We believe that energy transition requires gas, as it is the cleanest fossil fuel and plays a significant role in achieving Net Zero Emissions,” Miltos said.

“This partnership is not limited to gas supply but also includes the development of gas pipeline and LNG infrastructure, as well as maintenance activities for gas facilities. Given the significance of this partnership for PGN, the support from the Aceh regional government is vital, and we are grateful for the opportunity to operate in Aceh,” Rosa concluded.

Kembali Ke Beranda