PT Nusantara Regas (or hereafter will be referred as ‘NR’ or ‘the Company’) was established as a subsidiary of State-Owned Enterprises (BUMN) from a consortium between PT Pertamina (Persero) and PT Perusahaan Gas Negara (Persero) Tbk on April 14, 2010 as stipulated in Notary Deed No.16 and approved by the Minister of Law and Human Rights of the Republic of Indonesia in Decision Letter No. AHU-24233. AH.01.01 Year 2010 dated April 14, 2010.
For more than three decades, the natural gas (LNG) reserved in the country has sufficiently accommodated export markets. However, the natural gas is still under utilized to meet the domestic demand due to the lack of LNG receiving terminal infrastructure. Standing up to the challenges, Ministry of State-Owned Enterprises (SOEs) in letter number 5-269/MBU/2008 dated April 21, 2008 then established a consortium which consists of PT PLN, PT Pertamina, and PT Perusahaan Gas Negara to build and operate LNG Receiving Terminal. Along the process, PLN decided to withdraw and the plan was finally reviewed and replaced with Floating Storage & Regasification Unit (FSRU) which is considered to have higher advantages over the landbased LNG Receiving Terminal such as:
Not only expected to solve the issue of gas supply for PLN’s power plants, the establishment of PT Nusantara Regas also aims to support gas supply diversification in Indonesia and thus make contribution to national energy development and overall national economic growth. The objective is also in line with the applicable laws and regulations related to gas business and distribution as stipulated in:
By the end of 2014, gas production and utilized capacity of FSRU Nusantara Regas Satu has been registered at approximately 45-55% out of the available capacity. The Company believes it will be able to drive higher gas production to its maximum capacity in future years along with the higher market penetration and increasing trend of gas utilization as alternative fuel in power plants and other sectors.
Since established, Nusantara Regas has come a long way to grow into what it is now. To strengthen its step, the Company started its journey by setting up a solid foundation for its existence as a business entity which engages in gas distribution. It is reflected in the construction of FSRU and Regasification Terminal project in West Java as the first LNG Receiving Terminal in Indonesia which commenced its operation in 2012.
Subsequently, in responding to the dynamic changes in both the national and global gas industry, the Company continues to drive its business growth towards operational excellence. The Company’s growth towards excellence was marked by the LNG purchase and gas distribution which keeps growing up to double times in 2013. The Company’s strong commitment to pave its way to excellent growth continues to be emphasized in 2014 with business diversification to maintain profitability and maximize shareholders’ value.
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