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Public Expose Live 2020
Pemaparan Kinerja Triwulan 1 - 2020 PT Perusahaan Gas Negara Tbk
2
Laporan ini berisi pernyataan-pernyataan yang dapat dianggap sebagai pandangan masa depan (forward
looking statements) sehingga hasil-hasil nyata Perseroan, pelaksanaan atau pencapaian-pencapaiannya
dapat berbeda dari hasil yang diperoleh melalui pandangan masa depan (forward looking statements)
yang antara lain merupakan hasil dari perubahan-perubahan ekonomi dan politik baik nasional maupun
regional, perubahan nilai tukar valuta asing, perubahan harga dan permintaan dan penawaran pasar
komoditas, perubahan kompetisi perusahaan, perubahan undang-undang atau peraturan dan prinsip-
prinsip akuntansi, kebijakan-kebijakan dan pedoman-pedoman serta perubahan-perubahan asumsi-
asumsi yang digunakan dalam membuat pandangan masa depan (forward looking statements).
SANGKALAN DAN BATASAN TANGGUNG JAWAB:
1
2
3
Gambaran Umum PerusahaanPeristiwa Penting | The Sub-Holding Co | Kepemimpinan | Portfolio Bisnis | Struktur Bisnis | Respon terhadap Covid-19 | Ikhtisar 3M-2020
3M-2020 Kinerja OperasionalBisnis Distribusi | Bisnis Transmisi | Bisnis Hilir Lainnya | Lifting Hulu
3M-2020 Kinerja KeuanganLaporan Laba Rugi Konsolidasian | Laporan Neraca Konsolidasian | Laporan Arus Kas Konsolidasian | Rasio Keuangan | Debt Maturity
DAFTARISI
3
TENTANG PGAS
4 Proyek & Investasi Strategis 2020
3
TENTANG PGASPT Perusahaan Gas Negara Tbk (PGAS:IJ) adalah badan usaha di bidang
distribusi dan transportasi gas bumi di Indonesia. PGAS terus
memperkuat posisisnya di pasar dengan bertransformasi secara bertahap
menjadi perusahaan solusi energi yang terintegrasi dalam rangka
mendorong penggunaan gas bumi.
PGAS bergerak di bidang upstream, midstream, dan downstream minyak
dan gas di Indonesia. PGAS memiliki dan mengoperasikan jaringan pipa
gas bumi dengan panjang lebih dari 10.000km meliputi 96% jaringan pipa
gas bumi nasional. Portofolio upstream PGAS terdiri dari 11 blok minyak
dan gas yang ada di Indonesia, dan 1 asset shale gas di Houston, Amerika
Serikat. PGAS mempunyai 2 FSRU (Lampung dan Jawa Barat) dan fasilitas
regasifikasi di Arun. PGAS melalui entitas downstream-nya melayani lebih
dari 2.000 konsumen industri dan komersil.
PGAS menjadi bagian dari PT Pertamina (Persero) sejak 11 Maret 2018
sebagai bagian dari inisiatif Pemerintah membentuk Holding BUMN
Minyak dan Gas. Dengan mengakusisi 51% saham PT Pertamina Gas (dan
anak perusahaannya) pada 28 Desember 2018, PGAS telah secara resmi
menjadi perusahaan Sub Holding Gas.
Gambaran Umum Perusahaan Peristiwa Penting | The Sub-Holding Co | Kepemimpinan | Portfolio Bisnis | Struktur Bisnis | Respon Terhadap Covid-19 | Ikhtisar 3M-2020
Peristiwa Penting7
89
79
7
73
3
80
2
80
3
77
2
96
0
99
0
88
2
1,505
*3M-2020
1,591
2015 2018
1,3
42
2016
1,600
2017 2019
3,061 3,036
2,224
2,1
01
2,0
46
951 807 830874
3,069
2015 20182016 2017 3M-20202019
260
2,935 2,970
1,217
3,870
1,040
3,849
4,1394,737
3,1873,170
3,472 3,664
2016
3,023
3,106
2015 2017
3,202
2018
3,234
2019
4,655
3,282
3M-2020
Tota
l Lia
bili
ties
Tota
l Eq
uit
y
Distribusi (BBTUD)Transmisi (MMSCFD )
Pendapatan & EBITDA(Juta USD)
Kapitalisasi(Juta USD)
*) Excl. Processed Gas & TGI Volume
19982003 2007 2010
20182019
• Completion of Grissik – Duri
transmission pipeline
• Establishment of PT
Transportasi Gas 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
20152016
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.
5
The Sub-Holding Co.
Visi
Menjadi Perusahaan Gas Nasional Terkemuka Dunia untuk MasaDepan Berkelanjutan dan Kedaulatan Energi Nasional.
Misi
Menjalankan bisnis gas di bidang midstream, downstream, danusaha pendukung lainnya yang berkomitmen untuk meningkatkannilai bagi seluruh pemangku kepentingan dengan:1. Menyediakan gas dan mengembangkan infrastruktur untuk
pemanfaatan gas sebagai energi dan bahan baku untukmenciptakan nilai optimum bagi kepentingan pelanggan danmasyarakat
2. Menciptakan nilai tambah bagi pemegang saham dankaryawan, berwawasan lingkungan, mempunyai keunggulandan memprioritaskan keamanan
3. Melaksanakan prinsip-prinsip manajemen perusahaan secaraprofesional, bertanggung jawab dan berkelanjutan.
4. Mengatur bisnis untuk mendukung pemanfaatan gas danmanajemen bisnis yang berkelanjutan.
56,96%
43,04%Public
1 Serie A
6
Dewan Komisaris
Komisaris IndependenChristian H. Siboro
KomisarisLuky Alfirman
KomisarisWarih 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)
Komisaris IndependenPaiman Raharjo
Komisaris IndependenKiswodarmawan
Komisaris Utama 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
• Having no affiliation with members ofthe Board of Directors and othermembers of the Board ofCommissioners, as well as majorshareholders and/or controllers.
• A Bachelor of Civil Engineering fromITS, Surabaya.
• Previously served as ManagingDirector of Adhi Karya (Persero) Tbk
• Having no affiliation with othermembers of the Board of Directorsand the Board of Commissioners, aswell as majority and/or controllingshareholders
7
Direktur UtamaSuko Hartono
Direktur KeuanganArie Nobelta Kaban
Direktur KomersialFaris 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)
Direktur SDM & UmumBeni Syarif Hidayat
Direktur Infrastruktur & Teknologi
Redy Ferryanto
Direktur Strategi & Pengembangan Bisnis
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)
Direksi
8
Foto terbaru
Portofolio BisnisSub 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 that 300,000 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
9
Struktur Bisnis PGN Group
10
OUR PEOPLE OUR CUSTOMERS OUR BUSINESS OUR COMMUNITIES
▪ The safety and well-being of our people is our top priority. With this in mind, 95% of employees are now working from home (WFH) for the foreseeable future. While 5% of our people involved in critical operations continue at their normal workplace and we have processes in place to help protect them.
▪ Implementing the robust preventive protocols for health & safety e.g.: o Daily health reporting & monitoring via
internal online apps.o Increasing cleaning procedureso Practising social distancing in every
operating offices & facilities.o Masks and hand sanitizer for our
employees.
▪ Maintain benefit & compensation to employees at home during the COVID emergency situation.
▪ Keep providing health services:o Deployed clinical staff internally to
support on-line health consultancy during WFH
o Additional supplements & vitamins to our frontline operations.
▪ We are currently not experiencing any serious gas supply disruption due to coronavirus and our commitment to our customers and suppliers remains the same.
▪ Our customer services remain accessible through contact center and digital platform.
▪ As the impact of coronavirus – or COVID19 –touches some of our customers, we help customers surviving this outbreak by giving customer relief, such as: o Temporary contract amendment with ease
of process.o Temporary decrease the minimum
contract during the pandemic.o Reduce procedure to respond customer’s
request in increasing maximum contract, especially for food production related to COVID-19 handling.
▪ During this period of time, we are practicing ‘social distancing’ and minimizing physical contact in collecting data of residentials gas usage by having our residential customers sending the meter gas picture and estimation gas usage.
▪ We have business continuity plans in place to make sure we can continue to provide the energy for the country as well as to protect the health of our company, include efforts such as:
o Encouraging industry through the Ministry of Industry to utilize natural gas volume as allocated in the Kepmen ESDM No. 89.K/2020
o Finalized Letter of Agreement (LOA) with Upstream Co. to realize the upstream gas price of $ 4/MMBTU as stipulated in the Kepmen ESDM No. 89.K/2020
o ToP and SoP renegotiation with our suppliers and transporters due to lowering gas demand.
o Pursuing PGN's role as a Gas Aggregator for the implementation of Kepmen ESDM No. 89 in order to support the goals of the Government in setting gas prices at downstream and upstream.
▪ Our group had pledged over IDR 5 billion to protect and empower all affected communities, working closely with Governments and partners, includes: o Supports medical personnel on the
frontlines in the appointed hospital to treat COVID-19 patients by providing protective medical equipment and supplies as well as donating food donation, face masks, hand sanitizers and gloves to the communities in our operation areas.
o Contributes to Government’s efforts in providing respiratory systems for treating increasing cases and testing kits to increase per capita testing.
o Supplying natural gas to COVID’s emergency hospital (Wisma Atlet).
o Enhancing safe and healthy environment program in the communities by building hand washing facilities as well as disinfectant spraying in the surrounding neighborhood.
PGN is engaged with our employees, customers, partners, and communities in response to these unprecedented circumstances. The COVID-19 pandemic has emerged as a significant global challenge that is creating disruption across the world. PGN stands ready to support the
Government and help the communities where our people live and our business operate.
Respon Terhadap COVID-19
11
3M-2020
Ikhtisar
INDIKATORKEUANGAN(Juta USD )
Revenue
EBITDA
Total Asset
Equity
874
260
7,936
3,282
INDIKATOROPERASIONAL
Upstream
Downstream,
Midstream
& Supporting
CAPEX ($US Million)
88
0
88
2
3M-2019
3M-2020
87
0-8
80
*FY20 Target
Dis
trib
uti
on
(B
BTU
D)
+1%0.2%
Tran
smis
sio
n (
MM
SCFD
)3M-2019
3M-2020
*FY20 Target
1,3
60
-1,3
70
1,2
83
1,3
42
-1%+5%
12
0
11
1
3M-2019
FY20 Target
3M-2020
12
0-1
26
Reg
asif
icat
ion
(B
BTU
D)
-8%-8%
21
9
16
8
LPG
Pro
cess
ing
(TP
D)
3M-2019
3M-2020
17
8-1
84
FY20 Target
-6%
-23%
3M-2019
3M-2020
9,5
89
-10
,00
0
FY20 Target
Oil
Tran
spo
rtat
ion
(B
OEP
D)
11
,17
2
9,9
99
+4%
-10%
3M-2019
Up
stre
am L
ifti
ng
(BO
EPD
)
3M-2020
28
,76
7-3
0,1
37
FY20 Target
28
,93
6.0
20
,79
8.0
-28%-28%
56%
*FY20 Target
44%
70%
FY2019
67%
3M-2020
30%
33%
219
300-500
36
Upstream
Downstream, Midstream & Supporting
*) Notes:
In the face of the ongoing pandemic, Board of Director of PGN had decided to revise 2020 target of distribution and transmission volume due to weakening demand as well as cutting down Capex plan 2020.
12
3M–2020 Kinerja OperasionalDistribusi | Transmisi | Hilir Lainnya | Lifting Hulu |
Business Updates
▪ Consolidated distribution volume is relatively stable on YoY basis albeit slightly lower consumption from non-power customers. The impact of Covid-19 starting to show on QoQ basis. The declining impact from the pandemic is reflected in the 2Q-2020.
▪ Majority of industrial sector showed lower consumption.▪ Number of customers increased in all segment.▪ Natural gas remain competitive compared to oil related fuel.
Konsumsi Industri Terhadap Total Volume Penjualan
Volume Distribusi (BBTUD)
3M-2020
Ikhtisar OperasionalDistribusi
918 951
880 882
3M-20192015 2016
803
3M-202020192017
42
2018
39
802 772
960 990
0.2%
14.5%
Paper
Textile
Wood
Cement
1.7%
Lifting Oil
CNG
Basic Metal
Glass
Fabricated Metal
Others
Ceramic
Food
Chemical
5.6%
Power Plant
0.0%
0.3%
0.3%
1.0%
2.7%
4.5%
4.9%
7.8%
8.6%
8.8%
38.7%
-40
-30
-20
-10
0
10
20
30
3.7
Bas
ic M
etal
Foo
d
Text
ile
14
.4
Wo
od
Ch
emic
al
Pap
er
3.2 8
.9
Lift
ing
Oil
Gla
ss
15
.5
Oth
ers
15
.0C
emen
t
12
.8
9.8
10
.0Fa
bri
cate
d M
etal
25
.8
0.2
6.6
Po
wer
Pla
nt
1.0
CN
G
13
.2
Cer
amic
Pertumbuhan Industri(% YoY)
Tren Konsumsi Industri(BBTUD)
Gas Terproses
537 525560 571
534
338374
444 423
342
Q2-2019Q1-2019 Q3-2019 Q4-2019 Q1-2020
Retail (Non Power)
Power
14
Ikhtisar OperasionalDistribusi(per 31 Maret 2020)
58
5
58
3
54
2 61
4
61
5
57
9
13
0
13
0
13
3
13
0
13
0
12
5
10
3
10
8
11
9
14
2
69
20162015 2017
81 84 90
2018
98
2019 3M-2020
75
1
77
0
77
7
84
5
86
7
86
7
87
2015 20192016 2017 2018
3,2
70
8
3M-2020
2,9
84
1,0
07
3,0
52
1,1
72
3,1
84
1,2
35
1,2
09
1,2
21
3,3
08
3,3
22
1,2
33
Panjang Jaringan Pipa Distribusi : ±5,430 KMSumber Gas
RD 1 (Jakarta, Bogor, Bekasi, Karawang, Tangerang, Cilegon, Lampung, Palembang, and Cirebon)
RD 2 (Surabaya, Sidoarjo, Pasuruan, Semarang, Tarakan, and Sorong)
RD 3 (Medan, Batam, Pekanbaru, and Dumai)
Pertagas
51%
33%
16%
99%
Piped Gas
1%
LNG
Conocophillips
Others
Pertamina Group
Volume Distribusi (BBTUD)Per Regional
Harga PGN
3
4
5
6
7
8
9
10 4.5
2.0
1.5
2.5
3.0
3.5
4.0
20182015
8.56
Gross Spread(USD/MMBTU
ASP/APP(USD/MMBTU)
2016 2017 2019 3M-2020
5.92 5.94
8.92 8.64 8.648.54
6.07
8.39
6.20 6.246.37
ASP APP Spread
LPG - 12 kg
LPG - 3 kg
Coal 2.67
Kerosene
8.67
RON 88
21.26HSD (Solar)
20.85
Natural Gas (PGN’s Avg.)
LPG - 50 kg
MFO
MDF/IDO (Diesel)
8.64
16.34
21.20
24.70
18.70
18.49
+146%
+186%
+145%
+114%
+141%
+89%
+116%
-69%
USD/IDR : 16,367ICP : USD 34.23/barrel (March 2020 )
Harga Jual Gas PGN vs Energi Lain
3M-20202019
397,474 405,097
39
3,4
53
1,5
66
2,4
55
40
1,0
24
1,5
98
2,4
75
Industries & Commercials Small Businesses Residentials
Jumlah Pelanggan
0.7%0.1%
99.2%
Konsumsi Pelanggan
15
3M–2020 Ikhtisar OperasionalTransmisi
Volume Transmisi(MMSCFD)
654 676
19
2017
1,342
2,046
2015
25
20182016
1447
2019
2030
*3M-2019
8
*3M-2020
1,375
789 797
1,334
733
2,101
1,283
1,336 1,233
Pertagas PGN KJG
▪ Total Length: ±2,399 km
▪ Transmission Revenue
▪ Total Length: ±1,145 km (incl. SSWJ)
▪ Off-taker: PLN, BBG
▪ Transmission Revenue
▪ Total Length: ±201 km
▪ Off-taker : PLN
▪ Finance Lease Revenue
3M–2020 Ikhtisar OperasionalHilir Lainnya
Oil Transportation(BOPD)
Regasification (BBTUD)
Gas Processing (TPD)
11,172
3M-2020
3M-2019
9,999
-10%
120111
3M-2019
3M-2020
-8%
29 10
190
158
**3M-2019
219
**3M-2020
168
-23%
LPG MKS
LPG Pondok Tengah (60%)
20
1
20
1
20
1
20
1
20
1
20
1
2015
1,0
77
2016 2017 2018
1,0
06
2019 3M-2020
1,0
77
1,0
06
1,0
77
1,0
06
2,2
23
1,1
44
1,0
06
2,3
99
1,1
45
1,0
06
2,3
99
1,1
45
1,0
06
Panjang Jaringan Pipa Transmisi : ±4,751 KM
TGI
Pertagas
PGN
KJG
Business Updates
▪ Gas transportation through Pertagastransmission pipeline primarily contributes to higher transmission volume YoY.
▪ Downward trends seen in other downstream business segments’ performance due to weakening demand.
*) Excl. TGI Volume
**) Excl. Perta Samtan Gas
16
3M–2020
Ikhtisar Operasional:Lifting Hulu
Crude Oil (BOEPD)
1,010
28,936
5,487
3M-2019
475
3M-2020
20,798
7,350
15,088
5,943
11,256
3,124
-28%
Oil LPGLNGGas
83 82 18
3,024
3,344
3M-2019 3M-2020
5,487
3,124
2,060
-43%
87 5
50
6
26
34
12
88
3M-2019
5
65
3M-2020
-26%
43
34
3M-20203M-2019
34
43
-19%
Gas (BBTUD) LNG (BBTUD) LPG (MTPD)
87
41
3M-2019 3M-2020
87
41
-53%
Oil Gas Lifting (BOEPD)
Business Updates
▪ The crash of oil prices impacted the production activities that translates to lower lifting volume YoY
▪ Given the global oil and LNG supply demand, Saka will only focus in maintaining its existing operations
in its oil and gas fields, while also implementing efficiency programs in its production activities
▪ As of June 2020, Saka has been the 100% operatorship of Muriah block
Pangkah Bangkanai
Fasken Muara Bakau
Ketapang
17
3M–2020 Kinerja KeuanganLaporan Laba Rugi | Neraca | Arus Kas | Rasio Keuangan | Debt Maturity
3M–2020
Ikhtisar Keuangan:Laporan Laba Rugi Konsolidasi
876
591
285
163
65
263
874
587
287
172
48
260
Operating Income
Revenue Cost of Revenue
Gross Profit Net Income EBITDA
31-Mar-19
31-Mar-20
87%
9%4%
17%
83%
Kontribusi Pendapatan
Kontribusi EBITDA
(Juta USD)
Pendapatan(Juta USD)
31 Mar 2019 31 Mar 2020
Gas Distribution 677 693
Gas Transmission 57 65
E&P 93 76
Oil Transportation 6 5
Fiber Optic 3 4
Finance Lease 6 -
Gas Processing 25 25
Others 7 4
Total 876 874
▪ Consolidated revenue relatively stable albeit lower contribution from E&P, oil transportation, finance lease and other supporting businesses.
▪ Realized net income primarily impacted by the foreign exchange loss recorded at USD 63 million in three months period this year
▪ Consolidated EBITDA mainly contributed from lower depreciation of Saka and PGN’s distribution & transmission expenses
Distribution & Transmission
Upstream
Others
Distribution, Transmission & Others
19
3M–2020
Ikhtisar Keuangan:Neraca Konsolidasian Arus Kas Konsolidasian
Cash Flow(ÙSD Million)
31 Mar 2019 31 Mar 2020
Beginning Balance 1,315 1,040
Cash flow from operating 223 182
Cash flow from investment (43) 101
Cash flow from financing (636) 89
Foreign Exchange Impact 11 (66)
Ending Balance 870 1,346
Rasio Keuangan 31 Mar 2019 31 Mar 2020
EBITDA Margin 30% 30%
EBITDA /Interest Expense (x) 5.9 6.9
Debt-to-Equity (x) 0.8 0.9
3,234
Total EquityTotal Liabilities
Current Assets
Non Current Liabilities
Total AssetsNon Current Assets
3,366
Current Liabilities
2,2092,426
5,1655,510
7,374
7,936
1,123 1,288
3,016
4,139
4,655
3,282
31 Dec 2019 (Audited)
31 March 2020
( Juta USD)
▪ Increasing Total Assets reflecting higher trade receivables and prepaid expenses as well as the impact of implementation new accounting standard PSAK 73 to the increasing fixed asset
▪ Higher Total Liabilities was contributed by new short-term bank loans and implementation of PSAK 73 recognized in lease payables of FSRU Lampung.
Consolidated cash flow reflecting positive operating cash flow and higher cash inflows related to withdrawal of short-term investment into cash and receipt of carried receivables as well as drawdown of short-term loans.
20
3M–2020
Debt Profile
Total LoanUSD 2.85 Billion
Weighted Average Interest Rate 4.19%(Excl. Tax)
FY20191
,00
4
9
29
4
68 7
1
2020E
19
38
2
2021E
19
35
4
2022E
20
7
17
2023E
20
1,9
75
27
9
2024E >2025E
Commercial & Multilateral Loan Shareholder Loan Bonds
117 117 117 117 117
59
51 3721
35
26
2022EFY2019
5
11
6
0
2020E
11
2021E
1 5
>2025E2023E
5
2024E
00
Debt Maturity Profile *(Juta USD)
Interest Payment* (Juta USD)
87.7%
0.5%11.8%
USD IDRJPY
18%
82%
Float Rate Fixed Rate
Entities PGN SAKA Pertagas** PGAS Solution PGAS Com
Lender EIB(USD)
JBIC(JPY)
IBRD(USD)
Bank Mandiri(USD)
SMBC(USD)
Bond(USD)
Bond(USD)
SHL (USD)
Bank Mandiri(IDR)
DBS(IDR)
Outstanding 2,375,337 36,595,714,000 29,702,080 150,000,000 100,000,000 1,350,000,000 625,000,000 246,207,747 200,000,000,000 20,000,000,000
Maturity 2020 2043 2026 2020 2020 2024 2024 2022 - 2028 2020 2021
*) The amount stated above may differ due to loan prepayment and/or withdrawal, currency and rate volatility **) Pertagas Shareholder Loan is lended by PT Pertamina (Persero)
21
Proyek & Investasi Strategis 2020
23
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: 71%• LINEPIPE TOOLING & COATING: 6%• EPC CONTRACTOR KICKED OFF
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 INCREASE OF ROKAN BLOCK OIL LIFTING VOLUME (1/3 OF NATIONAL OIL LIFTING)
Òil Transportation Pipeline
Rokan Oil Pipeline
Potential Volume : ± 90 BBTUD ≈ ± 16.4 thousand BOEPD
RDMP Cilacap
Cilacap
Balikpapan Sorong
Tuban
Balongan
RDMP Balikpapan
GRR Tuban
RDMP Balongan
Kilang TPPI
Downstream Infrastructure Projects
Oil to Gas Conversion for Refineries
24
Progress : • Kilang Balongan telah di-supply gas sejak kuartal IV 2019 dengan volume sebesar 8 BBTUD • RU IV Cilacap dan RU V Balikpapan masih dalam Tahap Perencanaan
Quick Win 99.4 MW
Phase 1 : 689 MW
Phase 2 : 713 MW
Phase 3 : 290 MW
56 HSD Power Plants (Capacity 1.8 GW)
Downstream Infrastructure Projects
Oil to Gas Conversion for Power Plants
25
Proses gasifikasi pembangkit PLN dalam fase penyiapan dan koordinasi dengan PLN termasuk terkait kepastian demand
APBN 2020 : 127.864 SR*
City Gas Project
24 cities/regencies
Phase : 24 cities/regencies Progress : Construction
PGN 2020 : 50.000 SR
Jakarta dan Tangerang
Feasibility Study, FEED-DEDC
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 138.206 in 2021.
Progress:
26
HEADQUARTERJl. K.H. Zainul Arifin No.20, Jakarta, Indonesia
Investor Relations:PT Perusahaan Gas Negara TbkMid Tower Manhattan 26th FloorJl. TB Simatupang Kav. 1-S, Jakarta, IndonesiaEmail: [email protected]: +62 21 8064 1111