Jakarta, CNBC Indonesia – Liquified Natural Gas (LNG) issuer owned by Tommy Soeharto PT GTS Indonesia Tbk (GTSI) targets an investment of US$508 million or Rp7.5 trillion by 2026, in line with government initiatives to promote renewable energy.
According to SKK Migas data, the government is targeting LNG production in 2023 of 204 cargoes, higher than actual LNG production in 2022 which reached 196 cargoes. This is in line with the green fuel transformation program, from oil fuel to gas fuel.
GTSI welcomes this opportunity. GTS International Finance Director Dandun Widodo said the company is aiming for an investment of US$19.75 million or Rp.291.2 billion in 2023.
Dandun detailed, this year GTSI will buy a Liquified Natural Gas (LNG) carrier small size for US$ 12.5 million, then initial dry docking for US$ 4 million, mobilization for US$ 550 thousand, then a complement to the expansion, namely PPH22 , import duties and import VAT of US$ 2.7 million.
Furthermore, GTSI has a long-term investment plan until 2026. The investment amount reaches US$ 508 million or Rp. 7.5 trillion.
GTSI Main Director Tammy Meidharma said, his party will build an LNG storage & shuttle which requires US$ 50 million in 2024, and a Floating Storage and Regasification Unit (FSRU) or Floating Storage and Regasification Unit Ship worth US$ 265 million.
GTSI will also carry out a regasification project worth US$ 175 million which is projected to operate in June 2026. Then, the construction of LNG retail and bunkering worth US$ 18 million will be completed in the second quarter of 2024.
The funding from some of these investments will be funded through capital expenditure or capital expenditure. However, Tammy did not rule out the possibility that in the future, his company will hold corporate actions such as a rights issue to realize the investment.
“One of them is a rights issue (source of funds), but we are also partners, that’s what we have been doing so far, partners, like with Japan,” he said.
On the same occasion, Dandun said, GTS International allocated capital expenditure (Capex) of US$ 19-20 million in 2023.
(Mentari Puspadini/ayh)
2023-05-15 01:20:15
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