PGAS Posts 5% Revenue Growth Throughout 2025
PT Perusahaan Gas Negara (Persero) Tbk (PGAS) posted revenue of US$3.9 billion in 2025, up 5% from the previous year. Operating profit was US$519.6 million, while net income reached US$215.4 million, affected by a non-cash upstream asset value adjustment.
Beyond strengthening operations, PGN pursued financial management discipline through cost efficiency, cash optimisation, and prudent portfolio management. In 2025, general and administrative expenses declined by US$33.3 million, about 17% year-on-year. Profit contribution from joint ventures rose to US$76.4 million.
The company also reported EBITDA of US$971.2 million with positive operating cash flow of US$657.1 million, reflecting solid fundamentals and a cash position that remained strong amid energy-industry dynamics.
Corporate Secretary Fajriyah Usman said PGN’s performance is supported by a diversified business portfolio focused on midstream and downstream segments, including gas transmission and distribution, LNG, and contributions from subsidiaries and other affiliates.
“We consistently apply prudence in cash flow and portfolio management, including selective steps on priority projects. This strategy is important to strengthen corporate resilience in facing future challenges,” she said.
As a Subholding of Pertamina Gas, PGN continues to strengthen its business fundamentals and maintain operational performance stability amid energy industry dynamics throughout 2025. Growth is underpinned by positive momentum in the core midstream and downstream segments based on infrastructure.
During 2025, PGN recorded a gas trading volume of 836 BBTUD. Transmission volume rose 4% to 1,609 MMSCFD compared with the prior year, in line with higher customer uptake.
Operational performance was strengthened by the LNG infrastructure segment. Regasification volumes via Lampung FSRU and Arun Regasification Terminal reached 254 BBTUD, up 17%, contributing to the reliability of gas supply to various sectors, including industry and power plants. In the oil transportation segment, PGN reported throughput of 174,811 BOEPD, driven by increased oil transport activity via existing pipeline networks. Throughout 2025, PGN continued expanding gas infrastructure by adding more than 230 km of jargas distribution pipelines, while maintaining system availability at 98.84%.
Fajriyah explained PGN maintains energy delivery continuity through optimisation of the natural gas and LNG portfolios and intensive coordination with the Government and strategic stakeholders.
“The reliability of natural gas transmission to customers remains PGN’s top priority. We optimise the utilisation of gas and LNG infrastructure and implement adaptive volume management to ensure the continuity of energy services for customers,” she said.
Contributions from subsidiaries and affiliates strengthened, with LPG processing volumes of 117 metric tonnes per day (up 8%). Oil and gas lifting reached 17,519 BOEPD. In the International LNG Trading segment, PGN shipped seven LNG cargoes, or about 59 BBTUD, to international markets in 2025.
In the 2025 financial statements, the company recognised a fair value adjustment to assets in its upstream subsidiaries, driven by changes in reserve assumptions. The step was made in accordance with applicable accounting standards and oil & gas regulations as a prudent and transparent measure. However, the adjustment is non-cash and does not affect operating cash flow or the continuity of the business. Operational performance and PGN’s cash flow remained solid despite the asset value adjustment.
With the adjustment, the company ensures the financial statements better reflect current conditions and strengthens the financial foundations for sustainable growth, particularly in developing its core midstream and downstream businesses. For upstream entities, the measure also supports future stability and performance, where several wells have potential for increased production.
PGN continues to strengthen its role in supporting the national energy transition by developing integrated and sustainable gas infrastructure. With a strategy of strengthening fundamental business, operational optimisation, and ongoing efficiency, PGN is optimistic about maintaining business stability and creating long-term value for stakeholders.