Pt Perusahaan Gas Negara (persero) Tbk Class B · IDX:PGAS
Pt Perusahaan Gas Negara (persero) Tbk Class B — Perusahaan Gas Negara — 3M 2015 Earnings Presentation
28 slides from Pt Perusahaan Gas Negara (persero) Tbk Class B's earnings presentation, 2015
Slide 1: Investor Presentation 3M 2015 Update
Perusahaan Gas Negara Investor Presentation 3M 2015 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: Business Model
Business Model Dominant player in domestic natural gas transmission and distribution Transport PGN has two business er mode: Transmission and Transporter Distribution business. PGN and Transgasindo GTA Strong revenue serve as gas transporter contribution from through transmission distribution busine
Slide 4: PGN Group Structure
PGN Group Structure SBU I SBU II SBU III SBU Sumatera Java Government of the Republic of Indonesia Public 56.97% 43.03% *) Total : 24,241,508,196 shares Public Share includes 1,850,000 shares of Treasury Stock PT Transportasi PT Gagas PT PGN LNG PT Nusantara PT PGAS PT PGAS PT Permata PT Saka Energi
Slide 5: Key Stakeholders and Related Regulations
Key Stakeholders and Related Regulations Ministry of Ministry of Energy and Special Task Force for Oil and Downstream State Own Enterprise Mineral Resources Gas Business Activities Oil and Gas Regulator Minister of Energy and Mineral Resources Minister of Energy and Mineral Decree No. 19/2009 Resour
Slide 6: Pipelines, Facilities and Distribution Areas
Pipelines, Facilities and Distribution Areas Strategic Business Unit (SBU) I Strategic Business Unit (SBU) II Strategic Business Unit (SBU) III FSRU Facilities Panaran Station, Batam South Sumatra – West Java Transmission Pipeline Grissik Receiving Station FSRU Lampung Grissik – Duri Transmission Pi
Slide 7: Sources of Gas
Sources of Gas Bontang LNG 1,550 MMscfd Liquefaction Plant PGN volume delivery via distribution Pertiwi Nusantara Inti Daya Latu Prima and transmission pipeline in 3M 2015 Ex. Glagah Kambuna Ex. Jambi Merang PSC Medco E&P Lematang Lematang PSC Medco E&P Indonesia South & Central Sumatera PSC Tangguh
Slide 8: We Serve All Segments
We Serve All Segments INDUSTRIES AND POWER PLANTS COMMERCIAL & SME 97.11% of total volumes 2.64% 1,480 of total volumes Customers 1,771 Customers HOUSEHOLDS 0.25% of total Volumes 94,934 Customers *) Number of customers as of March 2015 8
Slide 9: Diversified Industrial Customer
Diversified Industrial Customer 38.6% Domestic industrial consumption as of 3M 2015 was 773 MMScfd or 97% of PGN’s sales 14.0% 11.8% 7.7% 5.8% 5.1% 5.7% 3.7% 3.7% 3.0% 0.9% 0.1% 9
Slide 10: Demand for Natural Gas
Demand for Natural Gas Indonesia Potential Demand 1,634 Total Demand: No Subsidy of Fuel for the Industries 3,835 MMSCFD Subsidies for industries revoked in 2005. Pricing and Efficiencies Significant price and efficiencies benefits by converting to natural gas, as well as environmental 773 concerns.
Slide 11: Strategy to Meet Demand
Strategy to Meet 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 production and contracts, but will require n
Slide 12: Opportunity in Price Advantage
10 20 25 30 35 40 15 0 5 3/1/2005 5/1/2005 7/1/2005 9/1/2005 Note: 11/1/2005 1/1/2006 3/1/2006 5/1/2006 7/1/2006 9/1/2006 11/1/2006 1/2/2007 3/1/2007 USD/MMBTU 5/1/2007 7/2/2007 9/3/2007 11/1/2007 1/2/2008 3/3/2008 5/1/2008 IDR-USD: BI mid spot rate 6/2/2008 8/1/2008 10/6/2008 HSD Unsubsidized Price
Slide 13: Distribution Performance
Distribution Performance 865 824 824 795 807 796 SBU III 11% (MMSCFD) SBU II 16% 2010 2011 2012 2013 2014 3M 2015 SBU I 73% Distribution 13
Slide 14: Transmission Performance
Transmission Performance 877 836 845 854 852 771 PGN 2% (MMSCFD) TGI 2010 2011 2012 2013 2014 3M 2015 98% Transmission Note: *) Effective January 1, 2015, PGN adopted PSAK 65 (the revised Indonesian Statements of Financial Accounting Standards) regarding consolidated financial statements whereby it
Slide 15: Consolidated Statements of Comprehensive Income 3M 2015
Consolidated Statements of Comprehensive Income 3M 2015 In USD Million 3M 2014 3M 2015 Revenues 804.4 696.4 Cost of Revenues 507.4 472.9 Gross Profit 296.9 223.4 Operating Income 211.5 152.5 EBITDA 240.5 183.9 Net Income 176.7 109.4 15
Slide 16: Consolidated Statements of Financial Position
Consolidated Statements of Financial Position In USD Million Dec 31, 2014* March 31, 2015 Current Assets 1,745 2,005 Non Current Assets 4,326 4,143 Total Assets 6,071 6,148 Current Liabilities 1,032 737 Non Current Liabilities 2,145 2,427 Total Equity 2,894 2,984 Total Liabilities And Shareholders E
Slide 17: Loan Composition
Loan Composition As of 31 March 2015 Credit Rating 2014 Fix Floating Interest 82.01% 17.99% rate Baa3 Weighted BB+ Total loan average USD 2.17 interest rate billion 4.67% BBB- Pefindo idAAA USD JPY Loan 82.91% 17.09% currency Long-term loan mainly source from developmental banks and bond proceeds 17
Slide 18: Upstream Assets
Upstream Assets C H D F E G A B Area Contract Certification Lifting Cost Net Lifting Profile 2015 Asset % WI Operator Status (Km2) Expiry Reserves USD/bbl Oil (BOPD) Gas (MMSCFD) A Pangkah 100 SEI 784 Production 2026 191.6 MMBOE (2P), D&M 2009 12 5,375 32 60 MMBOE, Gas 70 BCF (2P), B Ketapang 20 Pet
Slide 19: Oil and Gas Assets
Oil and Gas Assets Pangkah Block Offshore platform Pangkah Block, East Java 19
Slide 20: National LNG Infrastructure
National LNG Infrastructure Indonesia Natural Gas Allocation Arun 39% 61% Domestic Export Mahakam Source: SKK Migas 2015 Donggi-Senoro Lampung FSRU Tangguh NR FSRU Masela/Abadi Existing LNG Liquefaction Plant Planned / Development LNG Liquefaction Plant Existing transmission pipelines (PGN involveme
Slide 21: FSRU West Java
FSRU West Java Description Capacity 3 MTPA Offshore Pipeline +15 km Diameter 24” LNG Supply Contract 11.75 MT Business Process FSRU West Java Mahakam FSRU PLN and Block (Lease) Others Shareholder 60% 40% 21
Slide 22: FSRU Lampung
FSRU Lampung Integrated with the largest downstream transmission pipeline South Sumatera – West Java to serve Sumatera and Java market FSRU Lampung Business Process Specification DWT 81,900 tonnes Distribution Network Storage Capacity 170,000 m3 OTS ORF Regas Capacity 240 MMSCFD SSWJ Offshore Pipeli
Slide 23: Recent Updates
Recent Updates Event Detail of Event April 28, 2014 Saka Energi Indonesia (SEI) has discovered gas reserve of 500 BCF (2P) and expect to submit Saka discovery in South Sesulu, offshore East the Plan of Development for the block in 2017-2018 Kalimantan April 15, 2014 PGN through its subsidiary Saka E
Slide 24: Recent Updates
Recent Updates Event Detail of Event Feb 6, 2015 The synergy between PGN that owns and operates pipelines to supply gas and Pertamina that PGN and Pertamina signed a MoU regarding a has network in the retail business will enable the acceleration of natural gas infrastructure plan of cooperation to f
Slide 25: NOTE
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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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