PGN Secures New LNG Supply from Tangguh

Jakarta (26/06/2024) – PT PGN Tbk ("PGN"), a Subholding Gas Pertamina, has secured additional LNG supplies from domestic sources. The agreement includes a Master Ex-Ship LNG Sale and Purchase Agreement ("MSA") for the purchase of LNG. The commitment has been followed by the signing of a Confirmation Notice ("CN") for the purchase of LNG in June 2024, with one cargo amounting to 2.6 million MMBTU.

This MSA contract represents the collective efforts of all stakeholders to ensure a sustainable supply of natural gas for users in Indonesia. The five-year agreement aims to provide assurance to stakeholders, particularly in the industrial and commercial sectors, who require continuity in their business and investment activities.

“This is an important milestone for us. LNG is one of the best solutions we offer, in collaboration with the government and suppliers, to address the challenges of meeting domestic natural gas demand,” said PGN's Commercial Director, Ratih Esti Prihatini, on 26/06/2024. The response to LNG in West Java has been positive from customers, with a volume of 45 BBTUD in May, which exceeded initial expectations, Ratih added.

As of Q1 2024, PGN’s natural gas trade volume has reached 858 BBTUD. Efforts to increase sales volume across various regions are ongoing, both in areas with existing infrastructure and new regions with expanding networks. PGN continues to maintain its 2024 trading volume target of 954 BBTUD.

PGN remains committed to supporting the development of the national natural gas market by building safe, reliable, and sustainable infrastructure to support the Government’s energy transition programs and achieve Net Zero Emission targets.

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