PGN sets up LNG subsidiary

By Romel S. Gurky

Indonesia-listed gas distribution company PT Perusahaan Gas Negara (PGN) has set up a subsidiary called PT PGN LNG Indonesia to carry out the downstream side of the LNG business.

PGN said in a statement to the Indonesian Stock Exchange, that the new subsidiary will handle the various aspects of the downstream business such as processing, transportation, storage and trading.

Paid up capital for the new subsidiary totals Rp 375 billion, in which PGN controls 99.98 percent interest.

President Director of the new company is Doddy Adianto, and Director Nisi Setyobudi.

Editing by Reiner Simanjuntak