Pertamina seeks alternative import sources amid Strait of Hormuz volatility
Jakarta — PT Pertamina (Persero) is anticipating national energy supplies by opening alternative import sources amid the dynamics of global energy distribution through the Strait of Hormuz, driven by geopolitical conflict in the Middle East.
Pertamina Chief Executive Officer Simon Aloysius Mantiri stated that the company has prepared anticipatory measures through seeking alternative imports from the region to maintain national energy stock resilience.
“We have certainly anticipated seeking other sources so that stock resilience can be good and sound,” said Simon in Jakarta on Thursday.
He emphasised that Indonesia’s energy supply sources are not only derived from the Middle East, but also from other regions such as Africa and the United States.
“For anticipation, we are also diversifying sources. Our sources are not only from the Middle East; there are also from Africa, from the United States, and from various other places,” he said.
Tensions in the Middle East region previously triggered shipping disruptions in the Strait of Hormuz, a strategic global energy trade route connecting the Persian Gulf to global markets.
The strait is one of the main routes for crude oil shipments from producer countries in the Middle East to various consumer countries.
The government previously noted that approximately 20–25 per cent of Indonesia’s crude oil imports are shipped through the Strait of Hormuz.
This alternative oil import search was also planned by Pertamina after two tankers belonging to Pertamina International Shipping (PIS) remained in the Arabian Gulf region and could not transit the Strait of Hormuz.
The two vessels are the very large crude carrier (VLCC) Pertamina Pride with ship management from NYK, and the Gamsunoro vessel managed by Synergy Ship Management.
According to a PIS report on Monday (2 March), Pertamina Pride had completed the loading process and was anchored in Ras Tanura, Saudi Arabia, whilst Gamsunoro was undergoing the loading process in Khor al Zubair, Iraq.
Meanwhile, two other PIS vessels, PIS Paragon and PIS Rinjani, were reported to be outside the Middle East waters region.
“What is our main concern is the safety of our crew and the safety of our cargo. We continue to coordinate with various parties from the Ministry of Foreign Affairs and all parties, and we also encourage the situation there to improve,” said Simon.
PIS currently operates approximately 345 vessels to support energy distribution. Of the total fleet, 266 vessels serve fuel oil and avtur transportation, 27 vessels transport crude oil, 45 units serve LPG distribution, and 7 units support petrochemical transportation and also serve as Floating Storage.
Aside from maintaining supplies through imports, Simon continued, Pertamina will also continue to encourage increased domestic energy production.
“We have cooperation in the Cepu Block, so both parties must be maximum. With the addition of facilities there, we encourage production to increase,” said Simon.