PGN to make a USD 500 mln investment

PT Perusahaan Gas Negara (PGN), whose net profit reached $370.05 million in the first half of this year, is planning to make a $500 million investment to finalize the floating storage regasification unit (FSRU) in Lampung.

The investment will also include the gas pipeline in Central Java, according to company’s director Wahid Sutopo, reports Reuters.

Although the net profit fell 19% compared to $457.5 million the previous year, the company’s revenue rose 14% to 1.7 billion. The company already spent $800 million up to September.

LNG World News Staff, September 5, 2014; Image: Hoegh LNG