PT Perusahaan Gas Negara Tbk (PGN) said that it will seek an appropriate gas selling price for consumers after it successfully acquired PT Pertagas in the process of establishing state-owned oil and gas holding companies.

"We strive according to the new ESDM Ministerial Regulation how the government can keep its promise to make gas for consumers at the most optimum price," PGN President Director Jobi Triananda told a press conference in Jakarta on Tuesday (3/7).

Jobi explained that the company will strive to apply gas price as regulated in Minister of Energy and Mineral Resources Regulation No. 58 of 2017 on Gas Sale Price through Pipes in Oil and Gas Downstream Business Activity. Nevertheless, he claimed could not promise the amount of gas price reduction after integration.

According to him, the company will still see the optimum supporting factor for the business entity and the government's interest, "But today we can not promise how much there is price reduction, we still see what is the most optimal for business entities and government interests," he said.

PT Perusahaan Gas Negara Tbk (PGN) to integrate PT Pertamina Gas (Pertagas), a subsidiary of PT Pertamina, through Pertamina's Pertagas acquisition of shares with a total nominal value of Rp 16.6 trillion or equivalent to 51 percent of total capital placed and paid in Pertagas.

The acquisition of Pertagas shares by PGN has been done through the signing of the Conditional Sales Purchase Agreement (CSPA) on June 29, 2018. The transaction value represents the purchase price for 2,591,099 shares owned by Pertamina in Pertagas, at PT Pertam Arun Gas, PT Perta Daya Gas, PT Perta Samtan Gas and PT Perta Kalimantan Gas have been excluded from Pertagas' book, so there is only PT Pertagas Niaga as a subsidiary in Pertagas book. Pertagas integration into PGN is a series of processes from the formation of holding BUMN oil and gas.

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