15 Agustus 2023
Deepen Insight into LNG Business Risk Mitigation, PGN and Nusantara Regas Hold Risk Management Forum
Jakarta – Businesses in the oil and gas industry are known as high risk and high return businesses, including the Liquefied Natural Gas (LNG) business. For this reason, risk mitigation efforts that are carried out carefully need to be carried out, especially for the Pertamina Gas Subholding environment. Tuesday (15/08), PT Nusantara Regas (NR) Together with Subholding Gas PGN held a Pertamina Across The Group Risk Management Forum (RMF) for August 2023 at the Graha PGAS Auditorium, PGN Head Office. The theme raised in the activity was "Navigating Risks in the LNG Industry: Strategies for Success".
This forum presented two speakers including PT Pertamina (Persero) SVP Downstream Gas, Power & NRE Business Development Aris Mulya Azof and the Founder & CEO of Digital Energy Asia who is also the former CEO of PT Badak NGL, Salis S. Aprilian. The presentation and discussion session was guided by the Corporate Secretary of NR, Ratna Dumila.
RMF is one of the flagship Risk Management programs at Pertamina which is carried out routinely every month alternately by Sub-Hoding and AP Pertamina. The event was opened by SVP ERM Pertamina Sjahril Rachmad Atas, Director of Finance & Risk Management of PGN Fadjar H. Widodo and Director of Operations and Commercial Nusantara Regas, I Putu Puja Astawa. The participants came from Pertamina Group Wide risk management practitioners (Holding, Subholding & Subsidiaries) as well as PGN Work Unit Representatives, Subsidiaries & Affiliates.
Sjaril said that as part of the Pertamina Group which is one of the largest state-owned energy companies in Indonesia, PT Perusahaan Gas Negara Tbk. (Subholding Gas) and PT Nusantara Regas run the LNG business, which has open opportunities but also comes with risks. "Both business risks and operational risks must be managed by the Company starting from the exploration stage in the upstream oil and gas to the distribution of gas originating from LNG to customers," explained Sjaril Rachmad.
In his presentation, Salis S. Aprilian explained that one of the things to test the project for was the TECOPEL Assessment. "Technical, Economical, Commercial, Organizational, Political, Environmental and Legal aspects need to be challenged before we carry out a series of business projects," said Salis.
In the next session, Aris Azof added that the LNG business chain is interrelated in risk mitigation efforts. "The readiness of each stage, starting from gas reserves, refineries, transportation, receiving terminals to consumers, the timing must be right according to the agreed schedule," said Aris Mulya Azof.
The Risk Management Forum Forum is expected to add insight into the business commercial strategy and business utilization of the oil and gas industry in Indonesia as well as increase a risk awareness culture among all Pertamina employees..