Nusantara Regas seeks new markets
Wednesday, October 11 2017 - 01:14 AM WIB
PT Nusantara Regas (NR), which operates a Floating Storage and Regasification Unit (FSRU) in the Jakarta Bay, is seeking other markets outside its current single customer, the state-owned electricity firm PT PLN.
Tammy Meidharma Sumarna, President Director of NR, a joint venture company between state-owned oil and gas firm PT Pertamina and IDX-listed gas distribution firm PT PGN Tbk, said on Tuesday the company was looking to supply gas to other industries including transportation sector and retail customers around its FSRU.
He said that to realize the plan, NR will cooperate with PT Pertamina Gas, and PT Pertagas Niaga, both subsidiaries of PT Pertamina.
NR started the operation of its FSRU in 2012 supplying gas to PLN power plants. The gas supply has risen to 28 cargoes per year from only 14 cargoes in 2012.
The company expects gas sales volume this year to rise by 15.79 percent to around 88 mmbtu from 76 mmbtu last year. Tammy said that net profit this year is estimated at US$45 million, lower than last year?s $55.12 million.
Editing by Reiner Simanjuntak