PT Perusahaan Gas Negara (Persero) Tbk (PGN), Pertamina\u2019s gas\nsubholding, recorded solid financial performance in the first quarter of\n2026. PGN booked a net profit attributable to the parent entity\u2019s owners\nof US$90.4 million, marking growth of approximately 46% year-on-year\n(YoY). This profit growth was primarily supported by a roughly 12% YoY\nincrease in gross profit, in line with a 7% decline in cost of goods\nsold (US$54 million), as well as improvements in finance costs and\nforeign exchange differences.<\/p>\n
Throughout January to March 2026, PGN recorded revenues of US$929.6\nmillion and EBITDA of US$240.6 million. Revenue performance continued to\nbe supported by the strong core businesses of gas trading and natural\ngas infrastructure, amid operational dynamics, including the absence of\nLNG sales in the international trading segment during this period.<\/p>\n
This reflects the company\u2019s ability to maintain profitability through\noperational efficiency, financial discipline, and a balanced business\nportfolio.<\/p>\n
From an operational perspective, natural gas distribution volume was\nrecorded at 777 BBTUD, with transmission volume reaching 1,539 MMSCFD.\nGas distribution management was carried out optimally, with a primary\nfocus on ensuring continuity of supply to customers amid macroeconomic\nand global conditions.<\/p>\n
PGN\u2019s infrastructure reliability remained at 99.9%, supporting\nservices to more than 825,000 customers across Indonesia, comprising\n822,561 households, 2,842 small customers, and 3,310 industrial and\ncommercial customers.<\/p>\n
PGN\u2019s Finance Director, Catur Dermawan, stated that the company\u2019s\nbusiness model, based on a domestic ecosystem, serves as the main\nfoundation in maintaining the company\u2019s performance stability.<\/p>\n
\u201cOur primary focus at PGN is to ensure reliable energy services to\ncustomers through integrated infrastructure management and gas\ndistribution. This approach is key to maintaining operational stability\namid supply dynamics and domestic energy needs,\u201d said Catur.<\/p>\n
PGN maintains supply flexibility through measured utilisation of LNG\nas part of distribution system management. LNG is used as a\ncomplementary supply to ensure service continuity, particularly in areas\nexperiencing supply dynamics.<\/p>\n
Regasification service volume was recorded at 115 BBTUD through the\nLampung FSRU, 148 BBTUD through the Arun LNG facility, and 292 BBTUD\nthrough the West Java FSRU. All these facilities are managed integrally\nto maintain the reliability of the national natural gas distribution\nsystem.<\/p>\n
Amid global dynamics, including exchange rate movements and energy\nprices, PGN continues to apply prudent liquidity management through cash\noptimisation and efficient financing strategies. In Q1 2026, PGN reduced\nfinance costs to US$13.7 million and maintained key financial ratios at\nhealthy levels, including EBITDA to interest expense at 20.75x and\ndebt-to-equity ratio at 29%.<\/p>\n
Additionally, PGN recorded positive operating cash flow of US$86.9\nmillion, reflecting operational resilience and the company\u2019s ability to\nmaintain financial strength to support operations and future business\ndevelopment.<\/p>\n
The company\u2019s performance is also supported by a balanced business\nportfolio. In conditions of global energy price volatility,\ncontributions from the upstream segment serve as one of the supports in\nmaintaining overall performance stability.<\/p>\n
\u201cThe domestic-based business model and balanced portfolio enable PGN\nto maintain stable performance amid global energy dynamics,\u201d added\nCatur.<\/p>\n
Looking ahead, PGN will continue to strengthen infrastructure\nreliability and supply flexibility through pipeline network enhancements\nand development of beyond-pipeline services such as LNG and CNG. The\ncompany is also continuing the development of household gas networks\n(jargas) to expand access to cleaner and more affordable energy.<\/p>\n
PGN is also promoting the role of natural gas as a transition energy\nin supporting net zero emission targets, in line with national energy\npolicy.<\/p>\n
\u201cPGN will continue to balance service reliability, operational\nefficiency, and prudence in financial management to support national\nenergy resilience,\u201d Catur concluded.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/pgn-maintains-solid-performance-in-pertaminas-first-quarter-this-year-1777362685", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }