Dear PGAS shareholders, investors and analysts,
A meeting was held today (March 30, 2010) in the Ministry of Industries between the Ministries Officials, Industry Associations and PGN led by the Director General of Agro and Chemical Industries and attended by the Director General of Metal Industries, Machineries and Textile. The meeting was then closed by Mr. Moch. S. Hidayat, the Minister of Industries.
In the occasion, the Industry Associations and PGN come into agreement on the adjustment of gas sales price, the application of surcharge and guarantee of payment. For the industrial and commercial customers in West Java Area, the terms are as follows.
Gas selling price for customers using more than 300,000 m3/month is US$4,30/MMBTU+Rp750/m3 or equivalent to approximately US$6,37 /MMBTU (US$1=Rp9,400)
Application of surcharge amounting to 300% for the volume exceeding maximum contract
Payment guarantee to cover 2 months worth of gas usage for all customers
Starting from April 1, 2010 PGN will start new gas pricing for all industrial and commercial customers. The adjustment is in accordance to the location of the customers and the monthly gas utilization.
In average on a nationwide bases the gas prices for customers utilizing more than 300,000 m3/months will become US$4,30/MMBTU + Rp743/m3 or equivalent to approximately US$6,36/MMBTU (US$1=Rp9,400). Detailed gas prices have been communicated to customers in all locations.
Regards,
Investor Relations
PT Perusahaan Gas Negara (Persero) Tbk
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