The Jakarta Post
The State-owned Enterprises (SOEs) Ministry has said that the integration of state-owned gas distributor PT Perusahaan Gas Negara (PGN) and PT Pertamina Gas, a subsidiary of state-owned energy giant Pertamina, aims to strengthen the national gas infrastructure.
The ministry strategic mining industry and media affairs deputy, Fajar Harry Sampurno, said the two companies had signed the Conditional Sales Purchasing Agreement (CSPA) on June 29. SOEs Minister Rini Soemarno, as well as the companies' directors and commissioners, attended the signing ceremony.
Under the CSPA agreement, Pertagas is to become a subsidiary of PGN, which is now part of the state oil and gas holding company headed by Pertamina.
“The agreement process was held transparently according to good corporate governance and in compliance with all existing laws and regulations,” Fajar stated in a press release The Jakarta Post received on Monday. He added that the process was part of the process of establishing the state oil and gas holding company.
In her speech at the signing ceremony, Rini said the integration of the two companies aimed to help the companies implement government programs in line with business principles, which would in turn help them expand to support both economic development and energy sovereignty.
Fajar said the government appreciated the Pertamina, PGN and Pertagas management for completing the integration process, which was expected to increase benefits for both the state and the people.
He believed the integration would improve the efficiency of the country's gas sector. (bbn)