PGN 2006 net profit soared

State owned gas transmission and distribution company PT Perusahaan Gas Negara (PGN) said net income in 2006 soared to Rp 1.89 trillion from Rp 862 billion in the previous year.

PGN?s revenue in 2006 increased 22 percent to Rp 6.63 trillion from Rp 2.39 trillion in 2005. The operating income also climbed by 54 percent to Rp 2.39 trillion.

PGN?s director of Finance, Djoko Pramono said in statement Friday that of the revenue of Rp 6.63 trillion, Rp 5.53 trillion were generated from distribution business and Rp 1.1 trillion from transmission business.

Despite gas supply constraints in East Java, distribution volume increased by 5 percent from 308 MMSCFD to 323 MMSCFD due to the increase in sales volume in Batam, he said

The transmission volume grew by 13 percent to 681 MMSCFD, contributed by the increase in transported gas from Grissik to Singapore by 27 percent from 177 MMSCFD to 225 MMSCFD, Djoko added. (godang)