AKRA Targets LNG Facility in JIIPE Gresik to Commence Operations by 2029
PT AKR Corporindo Tbk (AKRA) is targeting its liquefied natural gas (LNG) floating storage and regasification unit (FSRU) facility at the Java Integrated Industrial and Ports Estate (JIIPE) in Gresik to begin operations in 2029.
“We expect to reach the commercial operation date (COD) in the second semester of 2029,” stated AKRA’s Head of Investor Relations, Ignatius Teguh Prayoga, during a press conference at the 2026 Public Expose Live in Jakarta on Tuesday.
Ignatius noted that the construction of the facility is intended to support the industrial estate and its surrounding areas. Several collaborations are underway for this development, including partnerships with BP Gas & Power and BW LNG VII Pte. Ltd., a subsidiary of BW LNG Global.
“Regarding the progress, at the beginning of July, we signed a shipbuilding contract with Hyundai Heavy Industries to construct a 170,000 cubic metre FSRU,” said Ignatius.
AKRA has allocated Rp1 trillion in capital expenditure (capex) to develop terminals across Java, Kalimantan, and Sulawesi, as well as to complete utility facilities within the JIIPE in Gresik. Of the allocated Rp1 trillion, Rp546 billion has already been realised in the first semester of 2026.
During the event, AKRA Corporate Secretary Arum Pawestri Handayani stated that the company plans to develop and monetise JIIPE through land sales, port activities, and increased utility demand.
“We will also develop our next growth drivers, including industrial utilities, port services, natural gas and LNG infrastructure, solar energy, retail petroleum, and aviation fuel,” said Arum.
The development of JIIPE and the expansion of utility services represent two of the company’s three main priorities.
Arum added that the third priority is to strengthen the fuel and basic chemicals trading and distribution business through selective volume growth, supply reliability, and network optimisation.
“Amid geopolitical dynamics, energy and commodity price volatility, changes in global supply chains, and demands for efficiency, AKRA recognises that customer needs will continue to evolve,” Arum concluded.