Pt Perusahaan Gas Negara (persero) Tbk Class B · IDX:PGAS
Pt Perusahaan Gas Negara (persero) Tbk Class B — Perusahaan Gas Negara — Investor Presentation (April 2011)
28 slides from Pt Perusahaan Gas Negara (persero) Tbk Class B's investor presentation, April 2011
Slide 1: Perusahaan Gas Negara Presentation to the investors
Perusahaan Gas Negara Presentation to the investors April 2011 update
Slide 2: Disclaimer
Disclaimer: The information contained in our presentation is intended solely for your personal reference. In addition, such information contains projections and forward-looking statements that reflect the Company’s current views with respect to future events and financial performance. These views ar
Slide 3: Indonesia: A Major Producer of Natural Gas
Indonesia: A Major Producer of Natural Gas The largest proven gas reserves in Asia Pacific Ahead of Australia, China and Malaysia (BP World Energy Report 2010) 3.71 1.32 53.06 21.49 24.14 7.96 7.76 26.68 6.31 6.18 6.39 6.30 Source: Director General of Oil and Gas Republic of Indonesia Natural Gas: P
Slide 4: Demand for Natural Gas
Demand for Natural Gas No Subsidy of Fuel for the Industries Industry Demand 2011 • Subsidies for industries revoked in 2005 2,500 2,093 Pricing and Efficiencies 2,000 • Significant price and efficiencies benefits by converting to natural gas, as well as environmental concerns 1,500 MMSCFD 1,247 Con
Slide 5: Current Low Consumption to Drive Demand
Current Low Consumption to Drive Demand Cost of Electricity Production Energy IDR/Kwh Oil 1,420 Natural Gas 339 Coal 366 Geothermal 542 Hydro 12 Source: PLN & Bisnis Indonesia (Januari 2011) Low level of current consumption of natural gas and electricity Ensure the continuing growth of demand for na
Slide 6: Opportunity: Price Advantages
Opportunity : Price Advantages Lower gas price compares to other fuels Industrial Prices are set on B‐to‐B basis PGN Gas Price and HSD Price Natural Gas 6.35 PGN Average 40.00 HSD Unsubsidized Price Selling Price (USD/MMBTU) LPG ‐ 3 kg (Subsidized) 10.05 35.00 PGN Average Selling Price (USD/MMBTU) M
Slide 7: New Pricing Scheme
New Pricing Scheme Minister of Energy and Mineral Resources Decree No. 19 Year Cost of Gas 2009 • Allows pricing for “general users” to be determined by the Companies • General users are non‐subsidized industries and power plants Transport & Pricing Considerations Distribution Costs • Demand and Sup
Slide 8: Growing operational performance
Growing operational performance 900 900 Distribution Volume Transmission Volume 800 850 700 800 600 MMSCFD MMSCFD 500 750 400 700 300 200 650 100 736 716 743 747 758 779 763 763 767 758 848 853 836 422 527 551 566 577 721 756 776 792 841 827 821 824 600 0 Deliver strong growth following completion o
Slide 9: Customers' Profile
Customers’ Profile As of December 31, 2010, sales volume of industrial customers was 807 MMSCFD or equal to 98% of PGN’s sales 40.00% 37% 30.00% 20.00% 14% 10% 10.00% 9% 8% 6% 5% 5% 3% 2% 1% 0.04% 0.00% Power Chemical Ceramic Basic Food Glass Paper Fabricated Textile Others Cement Wood Plant Metal M
Slide 10: Growing Revenues, Expanding EBITDA
Growing Revenues, Expanding EBITDA Revenue EBITDA and EBIT 20,000 58 11,000 60% 1,653 54% 18,000 20 10,000 52% 50% 1,624 9,000 47% 16,000 8,000 14,000 40% 7,000 12,000 1,519 IDR billion IDR billion 6,000 10,000 10,730 18,055 5,000 1,208 16,380 9,303 8,000 9,036 4,000 7,676 20% 6,000 6,375 11,275 3,0
Slide 11: Financial Statements (9M-2010)
Financial Statements (9M‐2010) 25,000 FX Gain/Loss 1,400 1,245 1,200 20,000 1,000 IDR billion 800 600 400 15,000 200 IDR billion ‐ (200) 2009 2010 (400) (369) 10,000 19,766 18,024 Exchange Rate 5,000 9,036 7,220 7,224 7,676 6,229 6,239 ‐ 31 Dec 2009 3,129 3,506 USD1 = IDR9,400 & JPY1 = IDR101.71 ‐ ‐
Slide 12: Our Sound Balance Sheet
Our Sound Balance Sheet (IDR billion) Dec 31, 2009 Dec 31, 2010 % Current Assets 9,262 13,858 50 Non Current Assets 19,408 18,229 ‐6 Total Assets 28,670 32,087 12 Current Liabilities 3,730 4,036 8 Non Current Liabilities 12,163 12,950 6 Minority Interest In Net Assets of a Subsidiary 1,045 1,232 18
Slide 13: Debt Composition
DEBT COMPOSITION (as of Dec 31, 2010) Long-term debt amounting to USD 1.175 billion Mostly long dated/maturity loans from Developmental Banks Float USD JPY 42.0% 50.8% 49.2% Fixed 58.0% Effective Cost of Debt of Around 2.2% 13
Slide 14: Our Business Model
Our Business Model GAS SUPPLY ‐ Contracted for Key Suppliers – Under Upstream Authority / BPMigas volume and prices PGN Industrial Power Sectors Commercial Residential CUSTOMERS Customers Customers (PLN, IPP) Customers ‐ Contracted for (Steel Millls, (Hotels, Shopping volume Petrochemical, Malls, Co
Slide 15: Our Corporate Structure
Our Corporate Structure PT Perusahaan Gas Negara (Persero) Tbk PT Transgasindo* PT PGAS SBU Transmisi PT PGAS SBU I (Grissik‐Duri and Telekomunikasi (SSWJ) Solution Grissik‐Singapura) Nusantara Subsidiaries SBU II *)Transgasindo Shareholder Composition SBU III 15% Petronas PGN 35% 40% 15% Conoco Ind
Slide 16: Our Network & Facilities
Our Network & Facilities PLN – Medan (80 MMSCFD) Duri Panaran Station, Batam KALIMANTAN Pagardewa Compressor St. Grissik Receiving Station Legend: Strategic Business Unit (SBU) I Strategic Business Unit (SBU) II Strategic Business Unit (SBU) III South Sumatera – West Java Transmission Pipeline (SSWJ
Slide 17: Our Sources of Gas
Our Sources of Gas Pertamina Medan DOH Rantau 44 BCF Medco E&P Lematang KALIMANTAN Lematang Block Grissik PSC Grissik Corridor Block 2581 BCF Medco E&P Indonesia South & Central Sumatra Block 14 BCF Pertamina Sumatera Selatan DOH Sumsel, Merbau Field, Pagardewa, Pertamina JBB Prabumenang, Tasim, Mus
Slide 18: Strategy to Fulfill Demand
Strategy to Fulfill Demand Obtain access to new gas supplies • Actively seeking new gas supplies, starting from the ones located in the proximity of existing infrastructure • Seek to obtain more allocation from the imposed domestic market obligations to new productions and contracts, but will requir
Slide 19: Recent Updates
Recent Updates Event Detail of Event 12 October 2010 • Nusantara Regas signed Head of Agreement on LNG Sales and Nusantara Regas signed HoA LNGSPA and HoA GSA Purchase Agreement (HoA LNGSPA) with Total E&P Indonesie, Inpex Corporation, and Pertamina to supply LNG Receiving Terminal in West Java from
Slide 20: Plan for New LNG Infrastructure
Plan for New LNG Infrastructure To Build the first 2 LNG Receiving Terminals Arun Mahakam Block Tangguh Donggi Senoro (planned) Masela Existing LNG Liquefaction Plant (planned) Existing transmission pipelines Planned LNG Liquefaction Plant Planned LNG Receiving Terminal Source: LNGpedia 20
Slide 21: Floating LNG Terminals
Floating LNG Terminals Teesside Northeast Gateway Dubai LNG Ship “Golar Spirit” converted Livorno into LNG Regas Terminal Source: LNGpedia Gulf Gateway Kuwait Medan Pecem W. Java Operational Guanabara Bay Mossel Bay Under Development Bahía Blanca 21
Slide 22: Floating LNG Terminal Overview
Floating LNG Terminal Overview 22
Slide 23: LNG Receiving Terminals
LNG Receiving Terminals WEST JAVA NORTH SUMATRA Location Jakarta Bay Belawan, Medan Capacity (MTPA) 1.5 – 3 MTPA 1.5 MTPA Customers Power plants, industry Domestic and international Potential Supply Bontang and others sources Owner PGN (40%) Pertamina (60%) PGN Scope FSRU, jetty, subsea and overland
Slide 24: West Java FSRU – Recent Developments
West Java FSRU – Recent Developments Cooperation aspects: • PLN pulled out of consortium citing focus on core‐business • JV between PGN and Pertamina signed Technical aspects: • JV appointed WorleyParsons Indonesia as Project Management Consultant • Tender for EIA Consultant in evaluation process Co
Slide 25: North Sumatera FSRU – Recent Developments
North Sumatera FSRU – Recent Developments Legal/Coordination: • Close coordination with Regional Government of North Sumatera and Belawan Port Authority Technical aspects: • LAPI ITB has been awarded as EIA consultant • Foster Wheeler has been awarded as Project Management Consultant Commercial aspe
Slide 26: West Java Distribution Expansion
West Java Distribution Expansion 460 km West Java Distribution Expansion Project 460 km expansion of Jakarta, Bekasi, Cikampek, Bogor and Banten distribution system Palembang System capacity increased by • 85% in West Java Bekasi Karawang • 50% nationwide Lampung Gas supply from South Sumatra Banten
Slide 27: Recently Issued Regulations
Recently Issued Regulations Government Regulation No. 55/2009 • Upstream has a mandate to meet domestic demand by allocating 25% of natural gas production Minister of Energy and Mineral Resources Decree No. 19/2009 • Set the structure of natural gas trading, transmission and distribution business an
Slide 28: Thank You
THANK YOU Contact: Investor Relations PT Perusahaan Gas Negara (Persero) Tbk Jl. K H Zainul Arifin No. 20, Jakarta‐11140, Indonesia Ph: 62 21 6334838 Fax: 62 21 6331632 http://www.pgn.co.id 28
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