Investor Presentation Consolidated 3M 2021

Investor PresentationConsolidated 3M–2021

Disclaimer & Cautionary Statement

This document is not, and nothing in it should be construed as, an offer, invitation or recommendation in respect of the Company’s

credit facilities or any of the Company’s securities. Neither this presentation nor anything in it shall form the basis of any contract or

commitment. This document is not intended to be relied upon as advice to investors or potential investors and does not take into

account the investment objectives, financial situation or needs of any investor.

The Company has prepared this document based on information available to it that have not been independently verified. No

representation or warranty, expressed or implied, is provided in relation to the fairness, accuracy, correctness, completeness or

reliability of the information, opinions or conclusions expressed herein. The information included in this presentation is preliminary,

unaudited and subject to revision upon completion of the Company’s closing and audit process.

This document may include forward-looking statements concerning the Company’s plans, objectives, goals, strategies, future events,

future performance, capital expenditures, business trend, and other information that is not historical. When used in this document, the

words “estimates”, “expects”, “anticipates”, “projects”, “plans”, “intends”, “believes”, “predicts”, “forecasts”, or future or conditional

verbs, such as “will”, “should”, “could”, or “may” and variations of such words or similar expressions are intended to identify forward-

looking statements. All forward-looking statements, including, without limitation, management’s examination of historical operating

trends and data are based upon the Company’s expectation and various assumptions. Future events or results may differ from those

anticipated or expressed in these forward-looking statements.

All forward-looking statements attributable to the Company or persons acting on its behalf apply only as of the date of this

document. The Company undertakes no obligation to update or revise forward-looking statements to reflect events or circumstances

that arise after the date made or to reflect the occurrence of unanticipated events.

222

Company OverviewThe Milestones | The Sub-Holding Co|Leadership |

Business Portfolio|Business Structure | 3M-2021 Highlights

About PGASPT Perusahaan Gas Negara Tbk (PGAS:IJ) the leading natural gas distribution and transportation player in Indonesia. PGAS continues to

strengthen its position in the market by gradually transforming into an integrated energy solution company, encouraging the use of natural

gas.

PGAS is engaged in upstream oil and gas, midstream and downstream fields across the Indonesian peninsula. PGAS owns and operates

natural gas pipelines in excess of more than 10,000km in total length, covering c. 96% of the national natural gas pipeline network. PGAS’

upstream portfolio consist of 10 oil and gas blocks across the country, and 1 shale gas in Houston, US. PGAS has 2 FSRU’s (Lampung & West

Java) and land based regasification facility in Arun. PGAS, through its downstream entities, serves more than 2,000 industrial and

commercial customers.

PGAS become subsidiary of PT Pertamina (Persero) since 11 March 2018 as part of Government of Indonesia’s Oil & Gas Holding initiatives.

With the acquisition of 51% stake in PT Pertamina Gas (and its subsidiaries) on 28 December 2018, PGAS has officially been the Gas Sub-

holding Company.

The Milestones8

03

77

2

917 951828 916

85

1,447

2016 20182017 2019

1,369

2020

1,255 1,211

3M-2021

109807 697 733

2018

191

2,935

2016

3,5713,870

1,085

2017***

1,217

3,849

1,040

2019

2,886

2020 3M-2021

3,6644,737

4,3103,170

2017***

3,873

2016 3M-2021

3,202

2018

4,139

3,234

2019

4,579

2,955

2020

4,502

3,022

Tota

l Lia

bili

ties

Tota

l Eq

uit

y

Gas Commercial (BBTUD)*Gas Transmission (MMSCFD)**

Revenue & EBITDA(USD Million)

Capitalization(USD Million)

*) Excl. Processed Gas; **) Excl. TGI Volume

5

***) Restatement

1998 2003 2007 2010

20182019

• Completion of Grissik – Duritransmission pipeline

• Establishment of PT TransportasiGas Indonesia (TGI) in 2002

• Completion of Grissik- Batam-Singapore transmission pipeline

• Listed Company (“PGAS”)

• Completion of SSWJ transmission pipeline

• Establishment of PT PGAS Telekomunikasi Nusantara (PGASCOM)

Establishment of the Sub-Holding Gas

Establishment of a JV between Pertamina and PGN: PT Nusantara Regas

2014

Operation of FSRU Lampung

Completion of Kalija transmission pipeline by KJG

2015

2016

Development of gas distribution pipeline in Musi Banyuasin, Bandar Lampung, DKI Jakarta and Mojokerto.

• Business Alignment of Sub-Holding Gas • The Transfer of the LNG, SPBG and City Gas

Business from Pertamina to PGN as sub-holding gas.

2020

• Restructuring of Subholding organization• Sapta PGN+ (The National Gasification Programs)• Implementation of the Decree of Minister of Energy and

Mineral Resources No. 89 and 91 of 2020

The Sub-Holding Co.

Vision

To Be The Leading National Gas Company with Global CredibilityStandard In Providence of Natural Gas Infrastructure and Utilization

Mission

Conducting midstream and downstream gas business and othersupporting business in commitment to increase the value forstakeholders through:

1. Natural Gas and LNG trading as a driver of national economicgrowth based on solid commercial principles;

2. Providence of integrated Natural Gas and LNG infrastructure;3. Organize services to support the provision of gas infrastructure

and utilization through applicable selection of technology;4. Business development through natural gas utilization for gas-

based industries and its derivatives.

56.96%

43.04%Public

1 Serie A

6

Independent Commissioner Christian H. Siboro

Commissioner Luky Alfirman

Commissioner Warih Sardono

• A Master of Business Administration& Management from PPM GraduateSchool of Management and ParisSchool of Business.

• Having no affiliation with members ofthe Board of Directors and othermembers of the Board ofCommissioners, as well as majorshareholders and/or controllers.

• A MA and PhD in Economic,University of Colorado

• Having an affiliation with theRepublic of Indonesia as thecontrolling shareholder, in hisposition as General Director ofFunding & Risk in Ministry ofFinance

• A Master of Law from University ofPadjadjaran and Doctoral Degreefrom University of Airlangga

• Having an affiliation with theRepublic of Indonesia as thecontrolling shareholder, in hisposition as Expert Advisor ofImplementation of Strategic Policy inMinistry of State-Owned Entities(BUMN)

Independent Commissioner Paiman Raharjo

Independent Commissioner Kiswodarmawan

President Commissioner Arcandra Tahar

• Master and Ph.D. of OceanEngineering – Texas A&M University

• Having no affiliation with othermembers of the Board of Directorsand the Board of Commissioners, aswell as majority and/or controllingshareholders

• Previously served as Vice MinisterEnergy and Mineral Resources ofRepublic of Indonesia (2016 –2019)

• A Master of Economic Administrationfrom the University of Prof. Dr.Moestopo and Doctor ofAdministrative Sciences fromPadjajaran University


• A Bachelor of Civil Engineering fromITS, Surabaya.

• Previously served as ManagingDirector of Adhi Karya (Persero) Tbk


7

Board of Commissioners

Independent Commissioner

Christian H. Siboro

Commissioner Luky Alfirman

Commissioner Warih Sardono

• A Master of Business Administration& Management from PPM GraduateSchool of Management and ParisSchool of Business.


• A MA and PhD in Economic,University of Colorado

• Having an affiliation with theRepublic of Indonesia as thecontrolling shareholder, in hisposition as General Director ofFunding & Risk in Ministry ofFinance

• A Master of Law from University ofPadjadjaran and Doctoral Degreefrom University of Airlangga

• Having an affiliation with theRepublic of Indonesia as thecontrolling shareholder, in hisposition as Expert Advisor ofImplementation of Strategic Policy inMinistry of State-Owned Entities(BUMN)


Paiman Raharjo


Dini Shanti Purwono

President Commissioner Arcandra Tahar

• Master and Ph.D. of OceanEngineering – Texas A&M University


• Previously served as Vice MinisterEnergy and Mineral Resources ofRepublic of Indonesia (2016 –2019)

• A Master of Economic Administrationfrom the University of Prof. Dr.Moestopo and Doctor ofAdministrative Sciences fromPadjajaran University


• A Master (LL.M) of International FinanceLaw from Harvard Law School.

• A member of the Investment Committeeof the Board of Commissioners PTPertamina (Persero) and previouslyserved as Special Staff to the President ofthe Republic of Indonesia

• Having no affiliation with other membersof the Board of Directors and the Board ofCommissioners

8

Board of Commissioners(as of 3 May 2021 – Resolution of the Annual General Meeting of Shareholders)

President DirectorSuko Hartono

Director of FinanceArie Nobelta Kaban

Director of Commercial Faris Aziz

• A Bachelor of ChemicalEngineering from Institute ofTechnology, Bandung (ITB)

• Serves as President Director ofPGN since May 15, 2020.

• Previously served as PresidentDirector of PT Pertamina Gas

• Bachelor and Master degreefrom University of Gajah Mada.

• Previously served as TeamLeader Investigation inCorruption EradicationCommission (KPK)

• Master of Management fromUniversity of Sumatera Utara(USU).

• Serves as a Director ofCommerce since May 15, 2020.Last position as as SVP SupplyDistribution & Infrastructure PTPertamina (Persero)

Director of HR & General Affairs

Beni Syarif Hidayat

Director of Infrastructure & Technology

Redy Ferryanto

Director of Strategy & Business Development

Syahrial Mukhtar

• Bachelor of Social and PoliticalScience from University ofPadjadjaran, Bandung.

• Serves as HC and General AffairsDirector of PGN since May 15,2020. Last position as SVPHuman Capital Management PTPertamina (Persero)

• A Master degree in InternationalManagement from University ofPelita Harapan/UPH (HarvardUniversity Class).

• Serves as a Director since August30, 2019. Previously served as theDirector of Operational &Development PT EnergiManagement Indonesia

• A Bachelor of IndustrialEngineering ITB, Master ofManagement University of GajahMada and Doctor of ManagementStrategic University of Indonesia

• Previously served as CorporateSecretary PT. Pertamina (Persero)

9

Foto terbaru

Board of Directors

President DirectorMuhammad Haryo Yunianto

Director of Finance & Risk Management

Fadjar Harianto Widodo

Director of Sales & Operations Faris Aziz

• A Master of Management andBachelor of Law.

• Serves as President Director ofPGN since May 3, 2021.

• Previously served as CorporateServices Director of PTPertamina (Persero)

• Bachelor Degree of Managementfrom University of Diponegoro.

• Serves as Director since May 3,2021.

• Previously served as SVP ControllerPT Pertamina (Persero) andDirector of Finance & BusinessSupport of PT Pertamina EP

• Master of Management fromUniversity of Sumatera Utara(USU).

• Serves as a Director of Commercesince May 15, 2020. Last positionas as SVP Supply Distribution &Infrastructure PT Pertamina(Persero)

Director of HR and Business Support

Beni Syarif Hidayat

Director of Infrastructure & Technology

Achmad Muchtasyar

Director of Strategy & Business Development

Heru Setiawan

• Bachelor of Social and PoliticalScience from University ofPadjadjaran, Bandung.

• Serves as HR and General AffairsDirector of PGN since May 15,2020. Last position as SVPHuman Capital Management PTPertamina (Persero)

• A Master degree in IndustrialTechnology from University of NewHaven

• Serves as a Director since May 3, 2021.• Previously served as the Director of

Business Development of PT RekayasaIndustri (REKIND)

• A Master of Business Administration(MBA) from Montreal, Canada andBachelor of Mechanical Engineeringfrom Bandung Institute of Technology(ITB).

• Serves as a Director since May 3, 2021.• Previously served as Director of

Planning, Investment & RiskManagement PT Pertamina (Persero)

10

Foto terbaru

Board of Directors(as of 3 May 2021 – Resolution of the Annual General Meeting of Shareholders)

Business Portfolio Sub Holding Gas

DOWNSTREAM

0

UPSTREAM

Oil and Gas ProductionNatural gas reserves in Indonesia are larger than oil. Saka Energi Indonesia is subsidiary of PGN that has business activities in the upstream business

MIDSTREAM

Through TGI, KJG and Pertagas, PGN maintain a very high reliability and operational infrastructure security. FSRU converts LNG into high-quality natural gas. PGN has 2 (two) FSRUs namely FSRU lampung and FSRU West Java and also land base regasification facility in Arun through Pertagas

Gas Transport Module (Gas Link) Gas Link is a solution for chanelling natural gas to location that are not connected to a gas pipeline

Commercial Customers MRU is the solution for natural gas filling station for trantation using CNG technology

> > > >

Power PlantsPower plant made from gas fuel is more environment friendly compared to oil fuel or coal

Commercial Customer Efficiency and reliability are important factor in distributing energy to commercial customers. PGN in this case can fulfil these needs

Household CustomerPGN has distributed gas to more than 400,000 household customers in 52 cities/regencies all over Indonesia

Gas Filling Station (SPBG) and Mobile Refueling Unit (MRU) Subsidiary, Gagas Energi Indonesia operates 16 SPBG at 11 cities in Java and Sumatra

Industrial SectorIndonesia’s growth is driven by the growth of its industrial sector. PGN continues trying to encourage fuel usage efficiency by distributing natural gas to various industrial area in Indonesia

11

Business Structure PGN Group

12

3M-2021

Highlights

13

OPERATING METRICS

CAPEX (US$ Million)

88

2

91

6

FY21 Target

3M-2021

3M-2020

89

3-

93

0

Gas

Co

mm

erci

al (

BB

TUD

)+3%

+4%

FY21 Target

1,3

33

-1

,38

7

1,3

42

1,2

11

3M-2020

Gas

Tra

nsm

issi

on

(M

MSC

FD)

3M-2021

-9%-10%

11

1

85

3M-2020

3M-2021

52

-5

4

FY21 Target

Reg

asif

icat

ion

(B

BTU

D)

+64%

-23%

16

8

12

1

FY21 Target

3M-2021

3M-2021

15

9-

16

4

LPG

Pro

cess

ing

(TP

D)

-24%-28%

Oil

Tran

spo

rtat

ion

(BO

EPD

)

30

,13

7–

31

,50

7

9,1

76

9,9

99

3M-2020

3M-2021

FY21 Target

-70%

-8%

Business Updates

Improving business environment in Indonesia in the midst of Covid-19 pandemic, better gas commercial volumes, higher profit from joint ventures, lower opex, and gain on forex, had all contributed to stronger net profit during 1Q21

20

,79

4

3M-2020

25

,50

7 -

26

,60

3

17

,22

6

3M-2021

FY21 Target

Up

stre

am L

ifti

ng

(BO

EPD

)

-32%

-17%

300

40

FY2020 FY21 Target

3M-2021

490 - 620

FINANCIAL INDICATORS(US$ Million)

Total Asset 7,525

Revenue 733

EBITDA 191

Equity 3,022

Net Profit 62

3M–2021 Operational PerformanceGas Commercial | Gas Transmission| Other Downstream | Upstream Lifting

Business Updates

▪ During the first quarter of the year, businesses in Indonesia had slowly recovered from the on-going Covid-19 pandemic due to the rolled out of Covid-19 vaccinations throughout Indonesia, resulting higher consolidated gas commercial volumes in 3M21 compared to 3M20.

▪ Upward trend seen on QoQ volume starting since Q3-2020.

▪ Number of customers increased in all segment with industries and commercial sectors remain the biggest gas consumers.

Volume (BBTUD)

3M-2021

Operational Highlights:Gas Commercial

803 772912 951

828

882 916

20182016 2017 20202019 3M-2020 3M-2021

+4%

15

35.9%

0.2%

1.2%

Fabricated Metal

Wood

Power Plant

Basic Metal

16.5%

Petrochem

0.3%

Lifting Oil

Glass

CNG

Refinery

Cement

Textile

8.8%

Others

Fertilizer

4.7%

1.0%

Paper

Food

Ceramic

Chemical

0.0%

0.1%

4.1%

1.6%

3.4%

3.6%

4.1%

5.2%

8.5%

512

420

486

552580

343 319 315 318 329

Q1-2021Q1-2020 Q2-2020 Q3-2020 Q4-2020

PowerRetail (Non Power)

Industrial Consumtption to Total Sales Volume

Trend of Industrial Consumption (BBTUD)

Number of Customers

0.7%0.1%

99.2%

Customers Consumption(as of 31 March 2021)

39

3,4

531,929

1,652

1,470

19

2,4

89

16

5,3

92

2016

2,3741,741

1,991

2017

32

2,0

73

2018

2,455

1,566

2019

2,487

1,805

49

1,6

43

2020

2,452

1,814

50

3,8

25

3M-2021

Industry & Commercial

Small Business

Residential

Operational Highlights:Gas Commercial

84 90 91

10

2

10

7

13

3

58

3

54

2 61

4

61

5

52

7

57

4

13

0

13

3

13

0

13

0

11

6

12

8

76

10

4

77

2018 20202016 2017 2019 3M-2021

Gas Sources(as of 31 March 2021)

Pertagas (Operation North Sumatra Area dan Dumai Area)

SOR I (Medan, Pekanbaru, Batam, Dumai, Palembang, Lampung)

SOR II (Jakarta, Bogor, Tangerang,Cilegon, Bekasi, Karawang, Cirebon)

SOR III (Sidoarjo, Pasuruan, Surabaya. Semarang)

57%29%

14%

99.8%

0.2%

Volume (BBTUD)Per Sale & Operation Regional

PGN’s Pricing

3

4

5

6

7

8

9

10

2.0

1.0

4.0

3.0

1.5

3.5

2.5

4.5

3M-2020

ASP/APP(USD/MMBTU)

8.57

5.59

3M-2021

8.39

Gross Spread(USD/MMBTU

2016 2017 2018

8.54

2019

7.59

2020

8.64

5.94 6.07 6.20 6.37

5.72

8.64

6.24

7.23

ASP SpreadAPP

LPG - 12 kg

LPG - 3 kg

Coal

19.99

PGN’s Avg

MFO

8.48

LPG - 50 kg

HSD (Solar)

RON 88 20.43

7.23

23.54

18.93

3.36

24.68+241%

+176%

+183%

-54%

+226%

PGN’s ASP vs Other Energy

16

Business Updates

▪ Consolidated gas spread or margin in 3M-2021 was lowercompared to the same period last year as the implementationof Ministerial Decree Numbers 89 & 91 Year 2020 did not occurin 3M-2020

▪ Natural gas remain competitive compared to oil related fuel.

▪ Increasing distribution pipeline in 3M21 ± 14 km

1.172 1.209

2.776 2.908

1.221 1.235 1.247 1.249

1.046 1.053

2.988 3.026 3.092 3.102

1.126 1.149 1.187 1.188

7

2016 202020182017

8

2019

90 90

3M-2021

4.994 5.169 5.342 5.418 5.615 5.629

Distribution Pipeline (KM)

ICP : USD 59.01/barrel USD/IDR : 14,572(as of 31 March 2021 )

Conocophillips

Others

Pertamina Group

Piped Gas LNG

92

1,342

0

1,3

75

1,2110

25

18

1,369

20168

8

1,255

3

47

20192017

110

14

19

1,3

36

41

,25

1

3M-20212020

1,3

34

3M-2020

81

,20

0

2018

84

1,447

76

-10%

158121

10

3M-20213M-2020

0

-28%

9,9

99

9,1

76

3M-2020 3M-2021

-8%

1.006 1.006 1.006 1.006 1.006 1.006

1.077 1.077 1.144 1.145 1.146 1.146

2.223 2.399 2.721 2.721

201201

2016

201

4.574

20182017 2019

201 201

2020

201

3M-2021

2.284 2.284

4.7515.073 5.073

Pertagas

TGI

KJG

PGN

Transmission Pipeline (KM)

3M-2021

Operational Highlights:Gas Transmission

*) Excl. TGI Volume

11185

3M-2020 3M-2021

-23%

Oil T

ran

spo

rta

tio

n (

Ba

rre

l)

LPG

Pro

ce

ssin

g (T

PD

)

Re

ga

sific

atio

n (

BB

TUD

)

Other Business Segments

17

LPG Pd. Tengah

LPG MKS

Business Updates

▪ Pandemic impact on weakening consumption of gas contributes tolower gas transportation through Pertagas and PGN transmissionpipeline.

▪ Downward trends seen in other business segments due to weakeningdemand as well as the shutdown of Pd. Tengah LPG plant due todeclining feed gas.

Volume*(MMSCFD)

Pertagas PGN KJG TGI

Gas Transmission Revenue

Gas Transmission Revenue

Finance Lease Revenue

Profit from Joint Ventures

Crude Oil (BOEPD)

475

3M-2020

5,943

11,290

10,865

385

3,085

4,154

1,822

3M2021

20,794

17,226

-17%

LPG LNG Gas Oil

1,771

2

3,024

59 4

3M-2020

47

3M-2021

3,085

1,822

-41%

8

5

5

116

5

34 30

12 10

2

0

3M-2020 3M-2021

6563

-4%

34

24

24

34

3M-2020 3M-2021

-30%

Gas (BBTUD) LNG (BBTUD) LPG (MTPD)

41

33

33

3M-2020 3M-2021

41

-19%

Oil Gas Lifting (BOEPD)

Business Updates

▪ Weakening global oil and LNG demand impacted the production that translate to lower lifting volume YoY

▪ Pangkah PSC has additional upside for near term production and reserve growth

potentials through West Pangkah and Sidayu development

Pangkah

Fasken

Muriah

Ketapang

Bangkanai

Muara Bakau

18

3M–2021

Operational Highlights:Upstream Lifting

3M–2021

Financial Highlights:Consolidated Income Statement

874

587

287

172

48

260

733

532

201

9662

191

Operating Income

Cost of Revenue

Revenue Net ProfitGross Profit EBITDA

-16%

+29%

-26%

31-Mar-20

31-Mar-21

(US$ Million)

Revenues(US$ Million)

31 Mar 2020 31 Mar 2021

Gas Commercial 693 596

Gas Transmission 65 59

Oil Transportation 5 4

E&P 76 47

Fiber Optic 4 4

Finance Lease - -

Gas Processing 25 21

Regasification - -

Others 4 1

Total 874 733

▪ Consolidated Revenue driven by lower contribution primarily from distributionsegments due to the implementation of MEMR 89 and 91 as well as the impact ofCovid-19 on lower energy demand to other business segments.

▪ Increasing Net Profit primarily contributed by higher profits from joint ventures,lower opex and gain in forex, despite lower generated revenues

▪ Consolidated EBITDA mainly contributed from lower operating income as well aslower depreciation of Saka

20

89%

6%4%

11%

89%

Revenue Contribution

EBITDA Contribution

Distribution & Transmission

Upstream

Others

Distribution, Transmission & Others

3M–2021

Financial Highlights:Consolidated Balance Sheet

Consolidated Cashflow

Cash Flow(ÙS$ Million)

31 Mar 2020 31 Mar 2021

Beginning Balance 1,040 1,1790

Cash flow from operating 182 167

Cash flow from investment 101 (96)

Cash flow from financing 89 (60)

Foreign Exchange Impact (66)(14)

Ending Balance 1,346 1,177

Financial Ratios 31 Mar 2020 31 Mar 2021

EBITDA Margin 30% 26%

EBITDA /Interest Expense (x) 6.9 5.3

Debt-to-Equity (x) 0.9 0.8

2,955

Current Assets

2,006

Total Liabilities

Non Current Assets

Total Assets Current Liabilities

Non Current Liabilities

3,347

Total Equity

4,579

2,067

5,528 5,457

7,534 7,525

1,183 1,155

3,395

4,502

3,022

31 Dec 2020 (Audited)

31-Mar-21

Total Assets and Total Liabilities primarily affected by depreciation of asset and the repayment of loan respectively.

Consolidated cash flow reflecting lower operating cash due to the impact of the implementation of lower price regulation on our sales

21

(US$ Million)

22

3M–2021

Debt Profile

Total LoanUS$ 2.50 Billion

Weighted Average Interest Rate 4.41%(Excl. Tax)

Debt Maturity Profile *(US$ Million)

Interest Payment* (US$ Million)

*) The amount stated above may differ due to loan prepayment and/or withdrawal, currency and rate volatility **) Pertagas Shareholder Loan is lent by PT Pertamina (Persero) A = Actual; E = Estimate

84.6%

0.3%12.3%

USD JPY IDR

8%

92%

Float Rate Fixed Rate

19

14

2023E

30

73

6

68

2020A1

82022E2021E

41

20

41

20

1,9

75

2024E

21

2

2025E

26

26

>2026E

Shareholder Loan**

Commercial & Multilateral Loan

Bonds

97 97 97 97

49

14

30

9

6

2020A

68 5

2021E

5

2022E

3

2023E

51

2024E

41

2025E

0

>2026E

Entities PGN SAKA Pertagas* PGASSOL

Lender JBIC(JPY)

IBRD(USD)

Bond(USD)

Bond(USD)

Pertamina SHL (USD)

Bank Mandiri(IDR)

Outstanding 35,004,596,000 25,267,563 1,350,000,000 625,000,000 173,151,139 130,000,000,000

Maturity 2043 2026 2024 2024 2023 - 2028 2021

23

3M–2021

CAPEX

Business Segments CapexTarget FY21

(US$ Million)YTD-March 2021

(US$ Million)Notes

Transmission Pipelines 160-197 30 • Development of Rokan oil transmission pipelines• Development of Gresik-Semarang gas transmission pipelines• Preparation on the development of gas transmission pipelines to Senipah oil refinery in

Balikpapan

Gas commercial infrastructures 147-180 2 • Gas distribution pipeline expansion projects to residential customers• Gas distribution pipeline expansion projects to PGN’s and Pertagas’ industrial

customers

Portfolio 63-83 7 • Pangkah oil & gas block development project including West Pangkah and Sidayu fields.• Muara Bakau oil & gas block development project• Bangkanai and West Bangkanai oil & gas blocks development

Services 43-63 0 • Internet infrastructure development to residential customers• Telecommunication infrastructure development• Construction as well as O&M services

Storage 35-44 1 • LNG regasification terminal infrastructure development• LNG refuelling facility in Bontang• Wet calibration metering system facility in Lampung

Non-gas transportation pipeline

42-53 0 • LNG infrastructure development in East Java;• Ministerial Decree of MEMR Nomor13 Year 2020 in relations to the conversion of more

than PLN’s 50 power plants situated mostly in Eastern part of Indonesia.

TOTAL 490 – 620 40

Capex spending reached US$40 million in 3M-2021 with the following breakdown:

Strategic Projects & Investment Updates

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PROJECT

BALAM-BANGKO-DUMAI AND MINAS-DURI-DUMAI CORRIDORS CRUDE OIL PIPELINE REPLACEMENT PROJECT

DESIGN

LENGTH: 367 KM, PIPE DIAMETER 4” – 24”POTENTIAL TRANSPORTATION VOLUME: 265.000 B0PD

TARGET ON-STREAM

• NORTH SEGMENTS (BALAM-BANGKO-DUMAI AND DURI-DUMAI): AUGUST 2021• SOUTH SEGMENTS (MINAS-DURI): JANUARY 2022

PROGRESS

• LINEPIPE HRC (HOT-ROLLED COIL) PRODUCTION: 100%• LINEPIPE TOOLING & COATING: 94%• EPC CONTRACTOR: 12,37%

SCOPE

• 12 PIPELINE SEGMENTS• 3 STATIONS (DURI PUMPING STA, DUMAI METERING STA, BATANG MANIFOLD STA)

OBJECTIVES

• TO STRENGTHEN OIL AND GAS TRANSPORTATION PORTFOLIO AND REVENUE• TO SUPPORT ROKAN BLOCK OIL LIFTING VOLUME (1/3 OF NATIONAL OIL LIFTING)

Crude Oil Transportation Pipeline

Rokan Crude Oil Pipeline

Oil to Gas Conversion RU IV Cilacap

Fuel conversion for Hydrogen Plant at Refinery Fuel Oil

(RFO) Cilacap

Potential Volume : ± 90 BBTUD ≈ ± 16.4 thousand BOEPD

R DMP C ilac ap

Cilacap

Balikpapan Sorong

TubanBalongan

R DMP B alikpapan

GR R Tuban

R DMP B alongan

K ilang TPPI

Downstream Infrastructure Projects

Oil to Gas Conversion for Refineries

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Progress : • Balongan refinery has been supplied with gas since the fourth

quarter of 2019 with a volume of 8 BBTUD.• RU IV Cilacap : Advanced Study Stage• RU V Balikpapan: Advanced Study stage

LNG Source

RU IV - CilacapLand-based LNG RT

Oil to Gas Conversion RU V Balikpapan

(Gas Pipeline Project Senipah – RU V Balikpapan)

Progress:• Signing of LNG Supply & Development Master Agreement between PGN and PLN• Preparation for Quick Win projects consist of PLTMG Nias, Tj Selor and Sorong

➢ Nias & Tj Selor : On progress discussion & negotiation with PLN;➢ Sorong : Completion of construction (last bolt connection)

56 HSD Power Plants (Capacity 1.8 GW)

Downstream Infrastructure Projects

Oil to Gas Conversion for Power Plants

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Quick Win : 3 locationPhase 1 : 30 location (6 Cluster)Phase 2 : TBA (waiting for confirmation of new RUPTL PLN)

APBN 2020 : 135,286 SR*

City Gas Project

23 cities/regencies

Phase : 23 cities/regenciesProgress : 99.98%

PGN 2020 : 50.000 SR

Jakarta dan Tangerang

Feasibility Study, FEED-DEDCInitial Business Proposal

Progress:

*)• Adjustment to the City Gas Project APBN 2020 due to efficiency policy from Government, originally 266,070

household connections in 2020 divided into 127,864 in 2020 and 120,776 in 2021.• To optimize state budget and development of city gas, there was additional work from 127,864 connections to

135,286 connections• From 135,286 household connections plan, as per 31 December realized 135,045 connections.

Progress:

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Investor Relations:PT Perusahaan Gas Negara Tbk

Mid Tower Manhattan 26th Floor

Jl. TB Simatupang Kav. 1-S, Jakarta, Indonesia

Email: [email protected]

URL: https://ir.pgn.co.id/

Phone: +62 21 8064 1111

HEADQUARTERJl. K.H. Zainul Arifin No. 20, Jakarta, Indonesia

mailto:[email protected]

https://ir.pgn.co.id/

Investor Presentation Consolidated 3M 2021

Documents

Transcript of Investor Presentation Consolidated 3M 2021