2022 PGN AGMS Approves 67.8% Dividend of 2021 Net Profit

Jakarta, May 28, 2022 - PT PGN Tbk, as Pertamina Gas Subholding, held the Annual General Meeting of Shareholders (AGMS) as a commitment to implement Good Corporate Governance (GCG) principles at the Graha PGAS Auditorium, Jakarta, on Friday, (27/05 /2022). 

This AGMS ratified the Company’s Annual Financial Report for the 2021 Financial Year and the Financial Statements for the Partnership and Community Development Program (PKBL) for the 2021 financial year and decided to distribute dividends for the 2021 financial year of USD 205,955,966 equivalent to IDR 3.016 trillion or IDR 124.42 per share to the Government and Shareholders. 

Moreover, the AGMS also approved the appointment of the Purwantono, Sungkoro & Surja Public Accounting Firm (a Member Firm of Ernst & Young Global Limited) for the 2022 audit and the number of bonuses for the 2021 financial year as well as salaries/honorariums, allowances, facilities and other incentives for the year book 2022 for members of the Board of Directors and the Board of Commissioners.

For changes to the company’s management, Pertamina, as the power of attorney recipient from Seri A Dwiwarna, did not propose changes to the management, and the AGMS canceled the agenda for changing the management.

"In its role as Pertamina Gas Subholding, the company continuously optimizes every natural gas opportunity through gasification, LNG trading, and retail programs, which are the company's current and future focus," said Corporate Secretary of PGN, Rachmat Hutama.

With a business portfolio covering upstream, midstream, and downstream, PGN is committed to managing a natural gas, CNG, and LNG business chain integrated with natural gas infrastructure networks in various parts of Indonesia.

Currently, the company is focused on finalizing the Rokan oil transportation pipeline completion to distribute 265,000 barrels of crude oil from the Rokan Block per day in supporting Indonesia's oil production increase.

Furthermore, the company is also developing a gas network (jargas), which in addition to serving households, is also an entry point for distribution network expansion to other business segments by increasing the added value of data digitization services and smart meters.

The next strategic project is the gasification of power plants through the construction of natural gas infrastructure for power plants in Central and Eastern Indonesia, as well as the gasification of oil refineries to support the efficiency of Pertamina's oil refineries at RU IV Cilacap, RU VI Balongan, and RU V Balikpapan as Pertamina Groups' synergy form.

"PGN as Pertamina's Gas Subholding is committed to sustainably optimizing every natural gas opportunity through gasification programs in all sectors as a transitional energy solution that is the company's focus in the long term," Rachmat conveyed.**