Jakarta (ANTARA News) - PT Perusahaan Gas Negara (PGN) reported US$241.99 million (Rp3.23 trillion) in net profit in the first nine months of the year.

PGN corporate secretary Heri Yusup said in a statement here on Monday in the nine months period, the state-owned gas company recorded US$2.16 billion in net income or an increase of US$17.32 million from US$2.14 billion in the same period last year.

"We have conducted a number of measures to improve efficiency that we could chalk up profit amid the economic slowdown," Heri said.

Its earning before interest, tax, depreciation and amortization (ABITDA) was US$641.51 million or an increase of US$27.17 million from US$614.34 million a year earlier.

Heri said the PGN had continued to perform well despite the sharp fall in oil price in the global market and rupiah instability.

Gas is tied to oil in price that gas price has also dropped sharply to follow the oil price fall.

PGN is even expected to perform better in the coming years to follow the improving economic trend, Heri said.

He said the increase in income in the third quarter came mainly as a result of the operation of the Kalimantan-Java I gas transmission pipe operated by PT Kalimantan Jawa Gas , and contribution from the gas sales in the upstream sector.

In the period of January-September 2016, PGN supplied 1,595 million cubic feet per day (MMSCFD) of gas or up from 1,556 MMSCFD in the same period last year.

The supplies included 793 MMSCFD in gas distribution to end users up from 789 MMSCFD in the same period in 2015; and 802 MMSCFD in transmission and transport , up from &^& MMSCFD on-year.

Heri said PGN would continue to build gas infrastructure to expand gas distribution to the general consumers.

"In the third quarter of 2016 PGNs gas distribution pipes increased 241 km in length to reach 7,267 km at present or equivalent to 78 percent of the countrys downstream pipes in length," he said.

With the pipes, PGN supplies gas for customers including 119,960 households, 1,929 hotels, shopping malls and hospitals , restaurants, and 1,630 big industries and power plants.

PGN has completed the construction of gas pipe projects such as in East Java including the 30-kilometer Kalisogo-Waru pipe, the 27 km Jetis-Ploso pipe, and the 15 km Kejayan-Purwosari pipes; and in Batam it built a total of 18.3 kilometer pipes.

In addition, PGN is building gas distribution pipe a 42 kilometer pipe in Bekasi between Muara Karang and Muara and 43 km long pipes in other areas in West Java and 23 km in Surabaya 23 km.

"PGN continue to be committed to building more gas pipes all over the country amid the economic slump," he said.(*)

Editor: Heru Purwanto
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