The LPG transportation agreement was reached between PIS and Energia Nord OÜ, a leading subsidiary of AVH Grupp based in Estonia, using the Pertamina Group Gas Arjuna ship weighing 2,398 DWT. Loading from Gothenburg, Sweden, for three days, Gas Arjuna finally arrived in Riga, Latvia, on October 19, 2024.
PIS Director of Gas, Petrochemicals, and New Business Arief Sukmara said that this LPG delivery marked an important journey for PIS in expanding its business in the world. "The delivery of mixed LPG to the Baltic is important because it not only strengthens PIS's business footprint in Europe, but also expands new business opportunities for the company in the future," said Arief.
The ongoing conflict in Eastern Europe has encouraged Baltic countries such as Estonia, Latvia, and Lithuania to seek diversification of energy supply sources, including more efficient and competitive LPG supplies.
Based on these conditions, PIS assesses that the company has a great opportunity to introduce reliable maritime logistics services through representative offices, both PIS Asia Pacific (PIS AP) in Singapore and PIS Middle East (PIS ME) in Dubai, to all corners of Europe and other regions. The shipping to the Baltic countries is one of the results of the business network established by PIS ME.
"We are also proud of the success of this transportation, which was completed quickly and on time. PIS will continue to strive to expand our market reach to serve the world's energy supply needs," added Arief.
For information, the Arjuna Gas ship is one of the ships owned by Pertamina Group that passed the Paris MoU inspection which ensures that the ship meets international safety, security, and environmental standards. This makes Arjuna Gas fully qualified to sail throughout European waters.
With this market expansion, PIS now records deliveries of 65 international routes. Up from the previous 64 international routes, with two representative offices in Asia Pacific (Singapore) and the Middle East (Dubai) to meet the needs of third-party partners. PIS also plans to expand into the European market by exploring the opening of representative offices on the continent. With a wider market reach, PIS is increasingly confident towards a market capitalization of 8.9 billion US dollars in 2034.
Reporter: PR Wire
Editor: PR Wire
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