PGN will aggressively develop the nation`s gas infrastructure to increase the nation`s gas consumption."
Jakarta (ANTARA News) - State gas company PT Perusahaan Gas Negara (PGN) Tbk had posted a net profit of Rp4.04 trillion last year despite the low oil prices and fluctuations in the rupiahs exchange rate.

"We made every necessary effort, so we could record a net profit despite the economic slowdown," PGN Corporate Secretary Heri Yusup noted in a press statement released on Friday (March 17).

During 2016, the company had booked a net income of US$2.935 billion and an operating profit of $444 million, with earnings before interest, taxes, depreciation, and amortization standing at $807 million, he explained.

"Net profit reached US$304 million, or Rp4.04 trillion, with the rupiah exchange rate against the dollar in 2016 averaging Rp13,308," he noted.

Last year, PGN had distributed 1,599 million standard cubic feet per day (MMSCFD) of natural gas, up from 1,591 MMSCFD a year earlier.

The volume of gas distributed in 2016 had reached 803 MMSCFD and the volume of gas transported stood at 796 MMSCFD as compared to 789 MMCFD the year before, he revealed.

In line with the governments efforts to spur the nations economic growth, PGN is optimistic that the companys performance would get better, he emphasized.

Despite the lingering economic downturn, PGN will continue to develop gas infrastructure to expand the use of gas among the public.

"PGN will aggressively develop the nations gas infrastructure to increase the nations gas consumption," he said.

"Last year, PGNs gas pipelines were expanded by 252 kilometers to reach 7,278 kilometers, accounting for 80 percent of the gas pipelines owned by the national downstream company," Yusup noted.

Based on the infrastructure, PGN distributed gas to 165,392 household customers; 1,929 customers in the micro, small, and medium business sector, malls, hotels, hospitals, restaurants, and food stalls; and 1,652 large-scale manufacturing industries and power plants.

He added that several projects were completed on schedule, including the Kalisogo-Waru gas pipeline covering 30 kilometers in East Java; Jetis-Ploso from Mojokerto to Jombang covering 27 kilometers; and Kejayan-Purwosari covering 15 kilometers in Pasuruan, East Java.

(Reported by Kelik Dewanto/Uu.S012/INE/KR-BSR/B003)

Editor: Priyambodo RH
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