PGAS 2015

The slowdown global economic growth decreased the demand of oil price, as the result of that the price of LNG declined in 2015. For indonesia, the GDP growth of 2015 is at 4.7 %, it was beneath the GDP growth of 2014 which is at 5 %. The same condition is also occurred in China, its growth is slower in 2015.

As the result of that the contraction on demand decreased the volume of sales in 2015. The volume declined from 865 MMSCFD in 2015 to 802 MMSCFD in 2014. The total revenue declined 5.7 % in 2015 in comparison with the revenue in 2014. The company is operating in both upstream and downstream through its subsidiaries. The biggest revenue is resulted from the industry segment which is almost 98 % of total revenue.  

The company started to build refueling gas station in 2015 at several locations across indonesia. besides that, the company tried to expand its segment for household. It has supplied natural gas to more than 12,727 houses in indonesia. Natural gas has better advantage than LPG, it was safer and cleaner than LPG. In 2015 the company has 6000 kilometers of transmission and distribution channel include new 201 km of first segment pipe from the gas field at Kepodang to Tambak Lorok, Semarang.

The company increased its loan in 2015 in order to establish the project as mentioned at above and to acquire new block in Kalimantan island. Through its subsidiary in upstream segment, Saka Energy, it purchased the block of Muara Bakau from GDP suez exploration ind BV with price amounted to USD 70.9 million. The financial leverage fell from 50.5 % in 2015 in to 46.5 %.