JAKARTA - PT Perusahaan Gas Negara Tbk (PGAS) and Tangguh PSC Contractor Parties reportedly signed a LNG purchase framework contract via Master Ex-Ship LNG Sale and Purchase Agreement (MSA) yesterday (19/6).

In the information disclosure quoted Friday (21/6), Susiyani Nurwulandari, Acting Corporate Secretary of PGAS, clarified that the contract signing will last 5 years starting from the signing of MSA yesterday (19/6).

“The contract with Tangguh will increase gas supply from LNG regasification for West Java, South Sumatra, and Central Sumatra,” Nurwulandari said.

In addition, these companies have signed a confirmation notice for LNG purchase in June 2024 of 115,000 m3 with an approximately 5% operational tolerance, equal to 2.6 Metric Million British Thermal Unit (MMBTU) with an approximately 5% operational tolerance.

As of Q1 2024, the revenue of PGAS was USD 949.33 million, up from USD 933.74 million seen in Q1 2023. Its gross profit then increased to USD 211.77 million from USD 176.84 million, while the net profit boosted to USD 121.13 million from USD 86.03 million. (LK/ZH)