PT Perusahaan Gas Negara Tbk : PGAS Operational Highlight May 2021

PGAS:IJ

PT Perusahaan Gas Negara Tbk

June 26, 2021

PT Perusahaan Gas Negara Tbk. (IDX: PGAS) today announces key operating performance updates ended May 31, 2021, as follows:

YTD Performance

	+5% -4%
Commercial (BBTUD)	822	864	894-930
Gas

May May FY21

'20 '21Target

	-5%	-8%	Upstream Lifting (MMBOE)
Transmission (MMSCFD)
1.301	1.230	1,333-1,387

May May FY21

'20 '21Target

	-66%
+7%
	9.319.71-
2.95	3.15

May MayFY21

'20 '21Target

	-12%
Regasification (BBTUD)			+67%	LPG Processing (TPD)
99	87	52-54

May May FY21

'20 '21Target

-27%

+13%

103

116

159-164

May May FY21

'20 '21Target

(BOPD)			-69%
10,198		30,137-31,507
TransportationOil	9,410
	-8%

May MayFY21

'20 '21Target

MoM Performance
Volumes	Apr.	May	MoM	Remarks
2021	2021	(%)
					1. Gas Commercial volume breakdown on a MoM basis
Gas Commercial					• PGN = 785 MMSCFD (Apr. '21) vs 661 MMSCFD (May '21);
843	731	-13.28	• Gagas = 6 MMSCFD (Apr. '21) vs. 5 MMSCFD (May '21.);
(BBTUD)
				• Pertagas = 52 MMSCFD (Apr. '21) vs. 64 MMSCFD (May
					'21)
					Breakdown of transmission volume on a MoM basis is as
					follow:
Transmission	1,268	1,251	-1.34	• PGN = 2 MMSCFD (Apr. '21) vs. 3 MMSCFD (May '21);
(MMSCFD)	• Pertagas = 1,236 MMSCFD (Apr. '21 ) vs. 1,231 MMSCFD

(May '21)

• KJG = 31 MMSCFD (Apr. '21) vs. 17 MMSCFD (May '21)

Regasification (BBTUD)

LPG Processing (TPD)

Oil Transportation (BOPD)

73	105	43.83	Higher regasification volume on a MoM basis was primarily
due to stronger gas demand from PLN.
			The volume breakdown per LPG plant on a MoM basis is as
103	114	10.67	follow:
• LPG Pondok Tengah = 0 TPD (Apr. '21) vs. 2 TPD (May '21);
			• LPG MKS = 103 TPD (Apr. '21) vs. 112 TPD (May '21)
			Lower oil delivery on a MoM basis from Pertamina EP field in
9,916	9,598	-3.20	Central Ramba, South Sumatra to Plaju refinery unit in South
			Sumatra.

O&G Performance

Details of of our oil and gas for the period of YTD-May 2021 amounted to 3.15 MMBOE with details as follow:

Blocks	YTD-Apr. '21 (MMBOE)	YTD-May '21 (MMBOE)	(%)
Pangkah	0.558	0.785	40.68
Fasken	1.004	0.788	-22.60
Ketapang	0.124	0.348	180.64
Muriah	0.283	0.373	31.80
Bangkanai	0.122	0.155	27.04
Muara Bakau	0.461	0.708	53.57

Capex (US$ Million)

Capex details during the period of YTD-Apr. 2021* are as follow:

Business Segments	Target FY21	YTD-Apr. '21 (US$		Notes
Capex	(US$ Million)	Million)
				•	Rokan oil transmission pipelines with partial target
					commercial operation in 3Q21;
Gas pipeline	160 - 197	50	•	Gresik-to-Semarang gas transmission pipeline with
transportation		target commercial operation in 4Q21
				•	Senipah oil refinery gas pipeline development with
					target commercial operation in 1Q23
				•	Gas pipeline expansion projects to residential
Gas Commercial	147 - 180	3		customers
• Gas pipeline expansion projects to PGN's and
					Pertagas' industrial customers
				•	Pangkah oil & gas block development project
					including West Pangkah and Sidayu fields.
Portfolio	63 - 83	10	•	Muara Bakau oil & gas block development project
				•	Bangkanai and West Bangkanai oil & gas blocks
					development
				•	Internet infrastructure development to residential
Services	43 - 63	1		customers
•	Telecommunication infrastructure development
				•	Construction as well as O&M services
				•	LNG regasification terminal infrastructure
Storage	35	- 44	1		development
• LNG refuelling facility in Bontang
				•	Wet calibration metering system facility in Lampung.
				'•	LNG infrastructure development in East Java;
Non-gas pipeline	42 - 53	0	•	Ministerial Decree of MEMR Nomor 13 Year 2020 in
transportation		relations to convert more than PLN's 50 power
					plants situated mostly in Easttern part of Indonesia.
TOTAL	490 - 620	65

*Note: YTD-May '21 capex yet to be determined

Business Updates

1. Details of gas sales to seven selected industrial sector by PGN in May '21 in accordance with MEMR Decree Number

1. Year 2020 are as follow:
   PGN

INDUSTRIAL	TOTAL GAS ALLOCATION			VOLUMES (BBTUD)
UNDER MEMR DECREE
CUSTOMER TYPES	JAN. '21	FEB. '21	MAR. '21	APR. '21	MAY '21	AVG. '21
(BBTUD)
Steel	53	28	31	28	34	22	30
Glass	16	11	12	12	12	11	12
Sheet Glass	35	30	31	30	29	30	30
Ceramics	96	66	68	66	65	55	64
Oleochemical	31	23	26	26	25	21	24
Petrochemical	76	65	66	60	61	61	62
Fertilizer	0	19	17	18	18	17	18
Rubber Glove	1.2	1.2	1.3	1.2	1.2	0.9	1
TOTAL	309	242	252	241	247	217	240

• May '21 gas sales volumes are subject to change
  Pertagas

INDUSTRIAL	TOTAL GAS			VOLUMES (BBTUD)
CUSTOMER	ALLOCATION UNDER
JAN. '21	FEB. '21 MAR. '21* APR. '21* MAY '21	AVG. '21
TYPES	MEMR DECREE (BBTUD)
Steel	2.00	2.1	1.8	1.8	1.0	0.7	1.5
Petrochemical	3.30	0.4	0.4	0.3	0.2	0.4	0.3
Ceramics	2.40	2.5	2.4	2.4	1.8	1.6	2.1
Oleochemical	2.50	2.6	2.7	2.7	2.2	2.6	2.6
Fertilizer	43.00	35.3	44.3	32.4	8.2	29	30.0
Total	53.00	43	52.0	40.0	13.0	34.0	36.0

* May '21 gas sales volumes are subject to change

2. Details of gas sales to PLN's power plants during YTD-May '21 period in accordance with MEMR Decree Number 91 Year 2020 are as follow:

			TOTAL GAS			VOLUMES (BBTUD)
	PLN POWER PLANTS		ALLOCATION
JAN. '21 FEB. '21 MAR. '21 APR. '21* MAY '21 AVG. '21
			UNDER MEMR
	PLN Cilegon			33	39	36	31	26	33
	PLN Tjg. Priok			67	67	76	67	49	65
	PLN Muara Tawar			47	39	38	28	24	35
	PLN Muara Karang			44.4	35	33.9	30	21	33
	PLN Talang Duku	315	0	0	0	0	0	0
	PLTMG Sutami -30 MW	2	2	2	2	1	2
	PLTMG Tarahan - 30 MW			0	0	0	0	0	0
	PLTG/MG MPP New Tarahan - 100 MW			11	13	13	10	9	11
	PLN Batam (Multidestinasi)			36	38	39	38	36	38
	Energi Listrik Batam			3	3	3	3	3	3
	TOTAL	315	244	235	242	208	169	219

3. Breakdown of gas sales per industrial sector during Jan.-May '21 period (PGN stand-alone):

INDUSTRIAL SECTORS		VOLUMES (in BBTUD)
	JAN. '21	FEB. '21	MAR. '21	APR. '21	MAY '21
Food	72	77	76	76	60
Textile	13	14	14	13	10
Wood	0	0	0	0	0
Paper	37	39	37	34	29
Chemical	149	149	145	147	135
Ceramic	77	81	76	76	64
Glass	42	44	43	42	44
Cement	3	3	3	3	1
Basic Metal	30	32	30	33	24
Fabricated Metal	43	47	47	49	34
Others	24	26	25	26	20
Power Plant	321	317	330	278	232
CNG	5	5	5	6	5
Lifting Oil	2	2	2	2	2
TOTAL	820	838	833	786	661

4. In respect to the most recent news in the media regarding the possibilities the Ministry of Industries going to include 13 industrial sectors outside the existing 7 industrial sectors, which are already receiving the US$6/MMBTU gas price from PGN, the government until today has not issued any formal Ministerial Decree to execute this initiative.

Moreover, the Ministry of Industries had submitted a formal request to the Ministry of Energy and Mineral Resources ("MEMR") in April 2021 to add another 136 BBTUD to the current special gas price policy, Ministerial Decree of MEMR Number 89 Year 2020 (source: Ministry of Industry presentation at Indonesia Gas Society webinar dated June 24, 2021).

For further information please contact:

Investor Relations

PT Perusahaan Gas Negara Tbk

Mid Tower Manhattan 26th Floor

Jl. TB Simatupang Kav. 1-S, Jakarta, Indonesia

Email:[e-mail]

Phone: [phone]