PT Perusahaan Gas Negara

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Gas Negara, incorporated as a company in May 1965, was the national gas company of Indonesia. The state-owned company was partially privatized in December 2003 through an initial public offering (IPO) in the Jakarta and Surabaya Stock Exchanges. In the IPO the government sold 39% of the company shares for US$299 million. On 15 Dec. 2006, the government made a divestment 4.1% of company equity, for which it received IDR 2.108 trillion or US$232.5 million. As of December 2008, the government owned 56.96% of Gas Negara, while private investors owned 43.04% through the stock market. Gas Negara, long engaged in the integrated downstream gas business, ranges from transportation and distribution pipelines, storing as well as trading of natural gas across the nation. In Indonesia, Gas Negara owns and operates a transmission and distribution pipeline network in various cities. In 1998, the company completed its first long distance transmission pipeline project linking Grissik and Duri, while in August 2003, the final phase of the pipeline was completed, linking Grissik with Singapore via Batam. On the island of Sumatra, Gas Negara's transmission network alone spans over 1006 km in length, from ConocoPhillips gas processing plant complex in Jambi to Duri, and from Grissik to Singapore, supplying processed gas to meet the needs of power, industrial and residential sectors. As of December 2008, Gas Negara operated a transmission pipeline network of 2,109 km with a total capacity of 1,839 MMScfd. The transmission network comprised five major pipelines: Medan, Grissik-Duri, Grissik-Singapore, South Sumatra West Java I (SSWJ I) and SSWJ II. In addition, Gas Negara operated a distribution pipeline network comprising three business units: West Java and South Sumatra; East Java; and North Sumatra. In total, the distribution network covered at least 3,212 km, with a total capacity of 1,005 MMScfd.