BGN made an agreement with PT Pertamina International Shipping (PIS) to collaborate on gas vessel transportation, reinforcing BGN’s position as an emerging maritime asset owner and a significant LPG trader.
In the agreement, the two companies outlined prospective collaborations that span joint ownership of Very Large Gas Carrier (VLGC) vessels, LPG cargo transportation and vessel leasing, establishing the foundation for an enduring partnership. The first two vessels may be delivered as early as the first quarter of 2024.
The collaborative agreement was signed by CEO of PIS Yoki Firnandi, and CEO of BGN Rüya Bayegan. It was witnessed by the Head of SKK Migas Dwi Soetjipto, Independent Commissioner of PT Pertamina (Persero) Iggi H. Achsien, Technical Advisor at Ministry of Energy and Mineral Resources Nanang Untung, Special Advisor to Minister for Acceleration of Infrastructure Development and Investment at Ministry of Energy and Mineral Resources Triharyo Susilo, Vice President SKK Migas Erwin Suryadi, and other distinguished guests, along with BGN’s head of shipping Ozan Turgut and other senior executives.
CEO BGN, Rüya Bayegan, said: “BGN excels at strong business partnerships, and we are pleased to move forward with this new arrangement with Pertamina International Shipping. BGN’s collaboration with Pertamina International Shipping will further enhance our maritime fleet to facilitate our growing energy trading business, cementing our position as a significant LPG trader, as well as supporting the Indonesian energy system.”
CEO PIS Yoko Firnandi added: “The collaboration on VLGC and LPG cargo businesses with BGN is a tangible expression of PIS’s commitment to expand LPG commodity businesses and increase PIS’s share in its non-captive market, to strengthen national energy security,” stated Yoki.
The signing took place at ADIPEC (Abu Dhabi International Petroleum Exhibition and Conference) 2023, the world’s largest energy exhibition and conference, where this year’s theme is “Decarbonising. Faster. Together.” It was hosted at the Indonesian Pavilion led by SKK Migas (Special Task Force for Upstream Oil and Gas Business Activities).
BGN has a growing number of LPG carriers in its fleet to facilitate the company’s trading operations. The company is present in 23 countries including offices in Dubai, Geneva, Houston, Rotterdam and Singapore, and is a supplier to Indonesia. PIS said the partnership with BGN would help it to expand its presence in the global market and explore additional business opportunities in support of energy supply and security.