PT Pertamina International Shipping, a subsidiary of state-owned oil-and-gas giant PT Pertamina, partnered with PT Badak Natural Gas Liquefaction (PT Badak LNG) to develop liquefied natural gas (LNG). PIS Acting Corporate Secretary Roberth MV Dumatubun said both companies signed a memorandum of understanding (MoU) on May 24, 2022.
“The MoU was signed by Pertamina International Shipping Business Planning Director Wisnu Medan Santoso and Badak LNG CEO Gema Iriandus Pahlawan,” he said in a statement on May 31, 2022.
PIS has set a revenue target of up to US$4 billion in 2027. The aggressive target was set after the transformation process of Subholding Integrated Marine Logistics (SH IML) was successfully completed.
“The successful restructuring of PIS to become Pertamina’s Subholding Integrated Marine Logistics is a key driver towards a world-class integrated marine logistics company,” Santoso said in his statement.
The MoU includes a ship-shore compatibility study (SSCS) concerning LNG supply from the Bontang terminal in East Kalimantan; engineering design, EPCC (Engineering, Procurement, Construction & Commisioning), operational, and terminal maintenance/STS (ship-to-ship) LNG or LPG (Liquefied petroleum gas); and the development of a green terminal owned by SH IML.
PIS needs to master LNG terminal technology by cooperating with companies within Pertamina group, such as Badak LNG, to expand its business competency, said Dumatubun.
