Gas Pipelines in Eastern Indonesia Not Worthy

Gas distribution by pipeline in eastern Indonesia is considered uneconomical due to very small needs and its location is scattered. Therefore, liquefied natural gas is considered more suitable to meet the needs of gas in eastern Indonesia.

In eastern Indonesia, gas pipelines are not feasible. Maybe with LNG with a small ship, "said President Director of PT Pertamina Gas Toto Nugroho.

Gas requirements in eastern Indonesia are very small and scattered at some points so it is not economical to use gas pipes. However, the price of liquefied natural gas / LNG in the eastern region is also still Linggi because the volume of shipping is relatively small so the average cost becomes more expensive.

Based on a study by Pertagas, LNG distribution in eastern Indonesia uses isotank, a large tube to transport LNG, small vessels, and small regasification.

"The challenges of technology can be overcome, the challenge of price. Price landed / could be US $ 10-US $ 16 per MMBtu [LNG normal price US $ 5-US $ 8 per MMBtu], "he said.

Stakeholders Relation Manager of Pertagas Niaga Ratna Dumila said Pertagas has supplied gas for malls in Ambon. The LNG was shipped on board and then converted to natural gas in mini regasification before it was distributed to the mall.

ADD SUPPLY

Meanwhile, PT Pertamina added LNG supply with supplies from Australian company Woodside. Based on the record there is an agreed LNG supply agreement. First, a long-term deal. Total with Pertamina for LNG supply of 0.4 to 1 million tonnes per year starting in 2020 and lasting for 15 years.

Second, Pertamina has signed a gas sales agreement (PJBG) with Cheniere Energy Inc. subsidiary. Namely Corpus Christi Liquefaction Liability Company to supply 0.76 million tons per year of LNG from 2019 for 20 years.

Thirdly, Pertamina has also contracted with Cheniere Energy with the same volume, but it starts in 2018 with a duration of 20 years. Fourth, Pertamina signed the purchase of LNG from ExxonMobil as much as 1 million tons per year for 20 years starting from 2025.

Woodside CEO Peter Coleman said, with increasing demand for gas in regional share, it is ready to become one of the preferred gas providers. Meanwhile, from Woodside Singapore will be supplied about 0.6 million tons per year which can be increased to 1.1 million tons per year.

LNG supply is 0.6 million tons per year from 2022-2034 and can be increased to 1.1 million tons per year in 2024-2038. Gas Director of Pertamina Yenny Andayani acknowledged the LNG supply transaction.

According to him, the purchase of LNG can not only be connected with corporate decisions. The reason is that the purchase of LNG has been adjusted to the projection of domestic gas demand and supply compiled by the Ministry of Energy and Mineral Resources (ESDM) ie LNG imports after 2020.

"Yeah, that's right. We can not say that Pertamina import itself needs to be seen as a national necessity because we buy not only for the needs of Penamina, but what national needs, "he said, Thursday (8/6).

Quoted from the report of BMI Research, Indonesia as the second largest exporter of liquefied natural gas / LNG after Qatar. Meanwhile, Indonesia's export capacity of 3.9 million tons of LNG in the first quarter of 2017. However, Indonesia is expected to import LNG by 2022.

In 2022 Indonesia is expected to become an importer of LNG due to the rising demand of domestic gas which grew 4% per year in the next few years.

Director General of Oil and Gas at the Ministry of ESDM IGN Wiratmaja Puja said there is an opportunity for LNG imports by 2019 if all potential demand can become contracted demand

IN INDONESIAN

Pipa Gas di Wilayah Timur Indonesia Belum Layak  

Distribusi gas dengan pipa di wilayah timur Indonesia dinilai tidak ekonomis karena kebutuhan yang sangat kecil dan lokasinya berpencar-pencar. Untuk itu, gas alam cair dinilai lebih cocok untuk memenuhi kebutuhan gas di wilayah timur Indonesia.

Di Indonesia timur, pipa gas tidak feasible [layak]. Mungkin dengan LNG dengan kapal berukuran kecil,” kata Presiden Direktur PT Pertamina Gas Toto Nugroho.

Kebutuhan gas di wilayah timur Indonesia sangat kecil dan tersebar di beberapa titik sehingga tidak ekonomis jika menggunakan pipa gas. Namun, harga gas alam cair/LNG di wilayah timur juga masih Linggi karena volume pengapalan relatif kecil sehingga biaya rata-rata menjadi lebih mahal.

Berdasarkan studi yang dilakukan Pertagas, distribusi LNG di wilayahi timur Indonesia menggunakan isotank, tabung berukuran besar untuk mengangkut LNG, kapal kecil, dan regasifikasi berukuran kecil.

“Tantangan dari teknologi sudah bisa diatasi, tantangan soal harga. Price landed/[harga di titik serah] saja bisa US$10-US$16 per MMBtu [harga normal LNG US$5-US$8 per MMBtu]," ujarnya.

Stakeholders Relation Manager Pertagas Niaga Ratna Dumila mengatakan bahwa Pertagas telah memasok gas untuk mal di Ambon. LNG itu dikirim dengan kapal kemudian diubah menjadi gas alam di regasifikasi mini sebelum disalurkan ke mal tersebut. 

TAMBAH PASOKAN

Sementara itu, PT Pertamina menambah pasokan LNG dengan pasokan dari perusahaan asal Australia, Woodside. Berdasarkan catatan terdapat kesepakatan pasokan LNG yang diteken sebelumnya. Pertama, kesepakatan jangka panjang. Total dengan Pertamina untuk pasokan LNG sebesar 0,4 sampai 1 juta ton per tahun yang dimulai pada 2020 dan berlangsung selama 15 tahun. 

Kedua, Pertamina telah menandatangani perjanjian jual beli gas (PJBG) dengan anak usaha Cheniere Energy Inc. yakni Corpus Christi Liquefaction Liability Company untuk memasok 0,76 juta ton per tahun LNG mulai 2019 selama 20 tahun. 

Ketiga, Pertamina juga sudah berkontrak dengan Cheniere Energy dengan volume yang sama, tetapi dimulai pada 2018 dengan durasi 20 tahun. Keempat, Pertamina meneken pembelian LNG dari ExxonMobil sebanyak 1 juta ton per tahun selama 20 tahun mulai 2025. 

CEO Woodside Peter Coleman mengatakan, dengan meningkatnya permintaan gas di pangsa regional, pihaknya siap menjadi salah satu pilihan penyedia gas. Adapun, dari Woodside Singapore akan dipasok sekitar 0,6 juta ton per tahun yang bisa ditingkatkan menjadi 1,1 juta ton per tahun. 

Pasokan LNG 0,6 juta ton per tahun mulai 2022-2034 dan bisa ditingkatkan menjadi 1,1 juta ton per tahun pada 2024-2038. Direktur Gas Pertamina Yenny Andayani mengakui transaksi pasokan LNG tersebut.

Menurutnya, pembelian LNG tidak bisa hanya dihubungkan dengan keputusan korporat. Pasalnya, pembelian LNG telah disesuaikan dengan proyeksi kebutuhan dan pasokan gas dalam negeri yang disusun Kementerian Energi dan Sumber Daya Mineral (ESDM) yakni impor LNG dilakukan setelah 2020.

“Iya pasti sudah benar. Kita tidak bisa bilang kebutuhan impor Pertamina sendin, harus dilihat kebutuhan nasional karena kita beli bukan hanya untuk kebutuhan Penamina, tetapi kebutuhan nasional seperti apa,” ujarya, Kamis (8/6). 

Dikutip dari laporan BMI Research, Indonesia sebagai negara kedua pengekspor gas alam cair/LNG terbesar setelah Qatar. Adapun, kemampuan ekspor Indonesia 3,9 juta ton LNG pada kuartal I/2017. Namun, Indonesia diperkirakan akan mengimpor LNG pada 2022. 

Pada 2022 Indonesia diperkirakan menjadi importir LNG karena naiknya kebutuhan gas dalam negeri yang tumbuh rerata 4% setiap tahunnya dalam beberapa tahun ke depan.

Dirjen Minyak dan Gas Bumi Kementerian ESDM IGN Wiratmaja Puja mengatakan, terdapat peluang impor LNG pada 2019 bila seluruh permintaan potensial bisa bembah menjadi permintaan terkontrak

Bisnis Indonesia, Page-30, Friday, June 9, 2017

Pertamina's Refinery Project Can be Delay

The retreat of refinery realization is also to anticipate the financial burden. Pertamina still bear the government's debt.

PT Pertamina is reviewing refinery development plan project planning of the Refinery Development Masterplan Program (RDMP) or New Grass Root Refinery (NGRR). Assessing the project for the self-sufficiency of fuel oil (BBM). Forced to do because of the financial aspect of a number of refinery projects built in parallel.

"It should be reorganized by looking at Pertamina's financial capability. Broadly speaking, because there are two refinery projects Partner. So we can not decide on our own, we need to talk with partners, "Pertamina President Director Elia Massa Manik said at a hearing with Commission VII DPR on Tuesday (6/6).

The two refinery projects employed by other investors are RDMP Cilacap refinery with Saudi Aramco and Tuban GRR refinery with Rosneft-Russia. With the review, a number of strategic projects have the potential to withdraw from the planning schedule. Nevertheless, Elia Massa Manik ensures the resignation of some refinery projects will not interfere with the achievement of national refinery target of 2 million barrels per day (bpd) per 2025.

He explained that the Cilacap RDMP refinery which was originally targeted to be completed by 2021 shifted to 2023. Then, the Tuban GRR refinery whose completion target in 2022 will retreat to 2024.

According to him, it is normal for the company to conduct a financial review with the partners considering the investment value of the refinery project is quite large. The investment value of the Cilacap refinery amounts to US $ 6 billion and the Tuban refinery reaches US $ 13 billion. 

     The retreat of refinery realization also anticipates the accumulation of financial burden. Moreover, Pertamina still bear the government's debt is around Rp 40 trillion, which until now has not been paid. The accumulation of government debt arose because of the fuel subsidy program.

Re-negotiate

Director of Processing and Petrochemical Megaproject Rachmad Hardadi added, now it is still negotiating with partners, namely Rosneft-Russia and Saudi Aramco-Saudi Arabia.

From the outcome of negotiations with Saudi Aramco, there is a change in terms and conditions with the production not entirely off (off take) Pertamina. It's just that there has been no decision related to the amount of share taken by investors. 

     For information, the joint venture development agreement (JVDA) with SOEs from Saudi Arabia was signed in December 2016. A study on environmental impact analysis (AMDAL) is targeted to be completed in kurtal Ill 2017, while the front end engineering design (FEED) stage starts in Q4 2017.

With Rosneft it will conduct further negotiations through the steering committee (SC). The establishment of Joint Venture (JV) with Russian investors has been signed since October 2016. Both aspects of Environmental Impact Analysis (AMDAL) and basic engineering design (BED) are targeted for completion in the Ill quarter of 2017.

"Given some partnership projects, there must be an agreement between both parties (including backward schedules). Except for Pertamina's own refineries, "said Hardadi.

IN INDONESIAN

Proyek Kilang Pertamina Bisa Molor

Mundurnya realisasi kilang juga untuk mengantisipasi beban finansial. Pertamina masih menanggung piutang pemerintah.

PT Pertamina mengkaji kembali perencanaan proyek kilang Refinery Development Masterplan Program (RDMP) ataupun New Grass Root Refinery (NGRR). Pengkajian proyek demi tujuan swasembada bahan bakar minyak (BBM) itu. terpaksa dilakukan karena aspek finansial terhadap sejumlah proyek kilang yang dibangun secara paralel.

“Harus ditata ulang dengan melihat kemampuan keuangan Pertamina. Secara garis besar, karena ada dua proyek kilang yang berpartner. Jadi kita tidak bisa menentukan sendiri, harus bicara dengan partner,” kata Direktur Utama Pertamina Elia Massa Manik dalam rapat dengar pendapat dengan Komisi VII DPR, Selasa (6/6).

Dua proyek kilang yang di kerjakan dengan investor lain ialah kilang RDMP Cilacap dengan Saudi Aramco dan kilang GRR Tuban dengan Rosneft- Rusia. Dengan adanya tinjauan kembali, sejumlah proyek strategis berpotensi mundur dari jadwal perencanaan. Kendati demikian, Elia Massa Manik memastikan mundurnya beberapa proyek kilang tidak akan mengganggu pencapaian target kapasitas kilang nasional 2 juta barel per hari (bph) per 2025.

Ia menjelaskan kilang RDMP Cilacap yang semula ditargetkan rampung 2021 bergeser jadi 2023. Kemudian, kilang GRR Tuban yang target penyelesaiannya di 2022 mundur menjadi 2024.

Menurutnya, wajar bila perseroan melakukan kajian ulang finansial bersama mitra kerja mengingat nilai investasi proyek kilang tergolong besar. Nilai investasi kilang Cilacap sebesar US$6 miliar dan kilang Tuban mencapai US$13 miliar. 

      Mundurnya realisasi pengerjaan kilang turut mengantisipasi penumpukan beban finansial. Apalagi Pertamina masih menanggung piutang pemerintah berkisar Rp 40 triliun yang hingga kini belum dibayarkan.  Akumulasi utang pemerintah muncul lantaran adanya program subsidi BBM.

Negosiasi ulang

Direktur Megaproyek Pengolahan dan Petrokimia Rachmad Hardadi menambahkan, kini pihaknya masih bernegosiasi dengan mitra kerja, yakni Rosneft-Rusia dan Saudi Aramco-Arab Saudi.

Dari hasil negosiasi dengan Saudi Aramco, terdapat perubahan ketentuan (term and condition) dengan produksi tidak seluruhnya diserap (off take) Pertamina. Hanya saja belum ada keputusan terkait dengan besaran share yang diambil investor. 

     Sebagai informasi, joint venture development agreement (JVDA) dengan BUMN asal Arab Saudi diteken Desember 2016. Kajian terhadap aspek analisis mengenai dampak lingkungan (amdal) ditargetkan selesai pada kurtal Ill 2017, sedangkan tahap front end engineering design (FEED) dimulai kuartal IV 2017.

Dengan Rosneft pihaknya baru akan melakukan negosiasi lebih lanjut melalui steering comittee (SC). Pembentukan Joint Venture (JV) dengan investor asal Rusia sudah diteken sejak Oktober 2016. Baik aspek Analisis Mengenai Dampak Lingkungan (Amdal) maupun basic engineering design (BED) ditargetkan rampung pada kuartal Ill 2017.

“Mengingat beberapa proyek berpartner, tentu harus ada kesepakatan kedua belah pihak (termasuk memundurkan jadwal). Kecuali untuk kilang yang digarap sendiri oleh Pertamina,” kata Hardadi.

Media Indonesia, Page-18, Thursday, June 8, 2017

Mega Pertamina Refinery Project to Late

Pertamina wants to overhaul the partnership scheme for the construction of the refinery.

MAP OF REFINERY IN INDONESIA

PT Pertamina ensures the massive construction of crude oil processing facilities can not take place as scheduled. "The project is back a year or two. With a project value above US $ 15-20 billion, it is definitely worth it, "said Pertamina President Director Elia Massa Manik at Parliament Complex, Jakarta.

Massa explained the project backed up because there are some stages that are too risky if done simultaneously. As in the Balikpapan Refinery in East Kalimantan, he requested that the advanced end engineering design document be completed before proceeding to the procurement stage.

Previously, when Dwi Soetjipto was in charge of Pertamina, several processes such as the bankability feasibility study and the basic engineering study were conducted simultaneously.

The policy makes Balikpapan's revitalization target for one of Balikpapan's retreats from 2019 to 2020. The second phase of development also retreats from 2020 to the end of 2021. The first phase of revitalization focuses on increasing refinery capacity from 260 thousand to 360 thousand barrels of oil per day. The second stage is the increase of refinery complexity in order to produce various petrochemical and aromatic products. Pertamina is working on this project worth US $ 5 billion.

The target for the development of the Cilacap refinery, Central Java, also shifted to 2023, or back two years from the original plan. Cilacap is the largest refinery revitalization project that increases oil processing capacity from 300 thousand barrels per day to 400 thousand barrels per day.

The project, with a capital requirement of US $ 5.5 billion, is jointly managed by a joint venture with Saudi Arabian oil giant Saudi Aramco. The revitalization of the Balongan refinery in West Java is also delayed from 2020 to the end of 2021. The mass does not specify whether schedule changes will affect investment costs. Previously, the cost of refinery development reached US $ 1.2 billion or down compared to the original formula of US $ 2.7 billion

Pertamina has not decided on the Dumai refinery development schedule in Riau. Under the initial plan, the refinery can operate with a new capacity of 300,000 barrels per day by 2024. The revised schedule for the new plant in Bontang, East Kalimantan, has not been decided yet. The selection of Pertamina partners is still in the tender process.

The two companies that are strong candidates are Sinopec (China) and Kuwait Petroleum International (Kuwait). Similarly, a new refinery in Tuban-East Java is scheduled to operate backward from 2021 to 2023. The company cooperated with Rosneft, a Russian company, to build a processing facility of 300,000 barrels of oil per day.

Director of Processing and Petrochemistry Megaproject Rachmad Hardadi said the rescheduling operation schedule made Pertamina have to revise the agreement together with partners, namely Aramco and Rosneft. The amendment also relates to Pertamina's proposal to amend the for-take agreement. Under the deal, companies are required to absorb 100 percent of refinery output. These provisions eventually become dependents affecting the company's financial liabilities.

Koran Tempo, Page-21, Thursday, June 8, 2017

Next Year's Oil Price Set at US $ 55 Per Barrel

The impact of geopolitical tensions in the Middle East.

The government proposes that the Indonesian Crude Price (ICP) price is set at US $ 55 per barrel in the 2018 State Budget. In the 2017 APBN, ICP is set at US $ 45 per barrel.

"Consideration, oil price fluctuations slowly rise. In 2019-2020 it is estimated to reach US $ 60 per barrel, "said Director General of Oil and Gas of the Ministry of Energy and Mineral Resources, I Gusti Wiratrnaja Puja

According to Wiratmaja, geopolitical factors have a major impact on oil prices, including ICP. "The situation in the Middle East at this time oil prices have started to move again, rise again. So, geopolitical factors are very big role "he said.

Earlier, six Arab states broke off diplomatic ties with Qatar. The severance of diplomatic relations was made due to allegations of Qatar's involvement with groups that have been active in terrorist activities. The tension causes oil supply to decrease and cause prices to rise. Qatar is known as a country rich in natural resources, especially natural gas. The country's gas reserves reach 150 trillion cubic feet.

Although in the 2018 ICP budget proposed at US $ 55 per barrel, according to Wiratmaja, the government will not revise the price of oil in APBN Changes (APBNP) 2017.

"Now, the average ICP to May US $ 49.9 per barrel. Approximately until the end of the year should be achieved, he said.

Earlier, the Ministry of Finance estimated that the price of Indonesian crude oil or ICP touched US $ 50 per barrel this year. In the 2017 State Budget, ICP is below the forecast of US $ 45 per barrel.

"Our assetment is (US $ 50 per barrel). For APBN-P is still running. Later additional receipts, we will calculate the details of it, "said Head of Fiscal Policy Office of the Finance Ministry Suahasil Nazara.

In line with Suahasil, Deputy Finance Minister Mardiasmo said his ministry's outlook on ICP rose from that set in the 2017 APBN. "Non-tax revenues must increase if ICP rises," Mardiasmo said.

On Wednesday trading (6/6), oil prices surged on the back of a drop in US crude stockpiles. Based on data from the US Energy Information Agency (EIA), US oil inventories may fall by 3.25 million barrels.

On the New York Mercantile Exchange, light sweet crude or West Texas Intermediate (WTI) futures for July delivery gained US $ 0.79 to US $ 48.19 a barrel. The price of Brent North Sea crude oil, as quoted by Antara, for August delivery, rose US $ 0.65 to US $ 50.12 on the London Futures Exchange. Earlier, oil prices rose on tension in the Middle East that raised market concerns.

IN INDONESIAN

Harga Minyak Tahun Depan Dipatok US$ 55 Per Barel  

Dampak ketegangan geopolitik di Timur Tengah.

Pemerintah mengusulkan harga minyak mentah Indonesia atau Indonesian Crude Price  (ICP) dipatok sebesar US$ 55 per barel dalam Anggaran Pendapatan dan Belanja Negara (APBN) 2018. Dalam APBN 2017, ICP ditetapkan sebesar US$ 45 per barel. 

“Pertimbangannya, fluktuasi harga minyak naik pelan-pelan. Pada 2019-2020 diperkirakan sampai US$ 60 per barel,” kata Direktur Jenderal Minyak dan Gas Bumi Kementerian Energi dan Sumber Daya Mineral, I Gusti Wiratrnaja Puja

Menurut Wiratmaja, faktor geopolitik berpengaruh besar terhadap harga minyak, termasuk ICP. “Situasi di Timur Tengah saat ini harga minyak sudah mulai bergerak lagi, naik lagi. Jadi, faktor geopolitik perannya besar sekali" ujar dia. 

Sebelumnya, enam negara Arab memutuskan hubungan diplomatik dengan Qatar. Pemutusan hubungan diplomatik tersebut dilakukan karena tudingan keterlibatan Qatar dengan kelompok-kelompok yang selama ini aktif dalam kegiatan terorisme. Ketegangan tersebut menyebabkan pasokan minyak berkurang dan menyebabkan harga naik. Qatar selama ini dikenal sebagai negara kaya akan sumber daya alam, khususnya gas alam. Cadangan gas negara itu mencapai 150 triliun kaki kubik.

Meskipun dalam APBN 2018 ICP diusulkan sebesar US$ 55 per barel, menurut Wiratmaja pemerintah tidak akan merevisi harga minyak dalam APBN Perubahan (APBNP) 2017.

“Sekarang, rata-rata ICP sampai Mei US$ 49,9 per barel. Kira-kira sampai akhir tahun seharusnya tercapai,  katanya.

Sebelumnya, Kementerian Keuangan memperkirakan harga minyak mentah Indonesia atau ICP menyentuh US$ 50 per barel tahun ini. Dalam Anggaran Pendapatan dan Belanja Negara 2017, ICP berada di bawah perkiraan tersebut, yakni US$ 45 per barel.

“Assessment kami sebesar (US$ 50 per barel). Untuk APBN-P masih berjalan. Nanti tambahan penerimaannya, akan kami hitung detail-nya,” ujar Kepala Badan Kebijakan Fiskal Kementerian Keuangan Suahasil Nazara.  

Senada dengan Suahasil, Wakil Menteri Keuangan Mardiasmo menuturkan outlook kementeriannya mengenai ICP naik dibanding yang ditetapkan dalam APBN 2017. “PNBP (Penerimaan Negara Bukan Pajak) pasti meningkat kalau ICP naik,” kata Mardiasmo.

Pada perdagangan rabu (6/6), harga minyak melonjak lantaran penurunan stok minyak mentah Amerika Serikat. Berdasarkan data Badan Informasi Energi AS (EIA), persediaan minyak Amerika mungkin turun 3,25 juta barel. 

Di New York Mercantile Exchange, harga minyak light sweet atau West Texas Intermediate (WTI) untuk pengiriman Juli naik US$ 0,79 menjadi US$ 48,19 per barel. Adapun harga minyak mentah Brent North Sea, seperti dikutip Antara, untuk pengiriman Agustus ,naik US$ 0,65 menjadi US$ 50,12 di London Futures Exchange. Sebelumnya harga minyak naik akibat ketegangan di Timur Tengah yang menimbulkan kekhawatiran pasar.

Koran Tempo, Page-17, Thursday, June 8, 2017

Finances halt Pertamina projects

State-owned energy giant Pertamina has pushed back the completion target of its refinery development projects, including those it will jointly develop with Saudi Arabian oil giant Saudi Aramco and Russia’s Rosneft Oil Company, due to financing issues.

Under its Refinery Development Master Plan (RDMP), Pertamina plans to upgrade four of its existing refinery facilities, namely the Cilacap refinery in East Java, the Balikpapan refinery in East Kalimantan, the Dumai refinery in Riau and the Balongan refinery in West Java. 

In addition, Pertamina also plans to build two new refineries- one in Bontang, East Kalimantan, and one in Tuban, East Java-in an effort to boost its refined oil production capacity to 2 million barrels of oil per day (bopd) by 2025 from the current 1 million bopd.

     However, Pertamina has found it difficult to finish all the projects on time as it has been gasping for air amid a downward trend in its financial performance.

“If we want to maintain our services, we have to be a healthy company. At least, we can’t book a negative cash How in our financial report,” Pertamina president director Elia Massa Manik said Tuesday during a hearing with members of the House of Representatives Commission VII overseeing energy In the first quarter of 2017, Pertamina booked around US$900 million in net profit. 

However, at the same time, the company also recorded a negative operating cash How of $800 million. “That’s why we will try to renegotiate with Saudi Aramco and Rosneft. We will ask them to conduct joint marketing efforts instead of making us the sole off-taker [for oil produced at the refineries,” Elia said.

He said if Pertamina followed the previous off-take agreement, the company would need to book it as a liability in its financial statement in accordance with International Financial Reporting Standards (IFRS), resulting in an increase in its debt covenant.  Meanwhile, Pertamina’s total debt has amounted to $11.4 billion at present.

Hence, the company plans to propose readjustments for its refinery projects, in which the offtake agreement will be in line with the shares portion of each party involved.

In December last year, Pertamina signed a joint venture agreement with Saudi Aramco for the Cilacap refinery upgrade with a  total investment value of around $5.8 billion.

Pertamina has majority stake of 55 percent in the Cilacap project, while the rest is owned by Saudi Aramco. The upgraded facility is expected to produce 400,000 bopd, up from current production of 348,000 bopd.

The Cilacap project was initially slated for completion in 2021, but Pertamina is now seeking to push the target to 2023. “I’ve talked about this matter by phone with Saudi Aramco CEC Amin Nasser,” Elia said, adding that he awaited a green light from its Middle Eastern partner. Meanwhile, Pertamina will also discuss the same issue with Rosneft regarding the development of a new Tuban refinery  which will need a total investment of $15 billion.

Pertamina expects to push the completion date of the Tuban refinery, projected to produce 300,000 bopd, to 2024, three years later than the initial target. Pertamina, which holds 55 percent stake in the project, will have discussions with Rosneft about the plan this week, Pertamina processing and petrochemical megaproject director Rachmad Hardadi said.

The completion date ofthe Balikpapan and Balongan refineries have also been revised to 2021, one year behind previous estimates. The upgraded Dumai refinery and new Bontang refinery meanwhile, are targeted to be on stream in 2025, delayed from previous estimates of completion in 2024 and 2023, respectively “We have to do this so that our financial burdens will not accumulate altogether at the same time,” Rachmad said.

Pertamina has claimed that, as of March, the government still owed Rp 38 trillion ($2.85 billion) to the company in subsidies that the company had paid in advance for the sales of subsidized 3-kilogram liquefied petroleum gas (LPG) canisters.

Meanwhile, the company estimates that it will disburse Rp 5 trillion over the next two years to implement the governments one-price fuel policy, which aims to introduce a fixed fuel price across the archipelago

Jakarta Post, Page-13, Thursday, June 8, 2017

Pertamina Completes Study on East Natuna Block

PT Pertamina has completed the technology and market review (TMR) for the East Natuna Block development. The Company is still discussing this study with the consortium members.

Upstream Director of Pertamina Syamsu Alam said, according to the target, TMR East Natuna Block should be completed this year. It has completed the TMR and is still discussing fundamental issues that need to be clarified immediately with the members of the consortium. Pertamina is working on oil and gas blocks off the Natuna Sea with ExxonMobil and PTT Thailand.

After that, it will discuss this TMR with the government. "If the schedule, it must be submitted this year. TMR is actually more for us, the consortium, to see what kind of economy, "he said.

One of the fundamental issues discussed is the implementation of a scheme for the sharing of gross splits in East Natuna Block. The reason, in a letter received by Pertamina, the government indicates it will use a gross split contract in East Natuna Block. This is in contrast to the previous scenario under the contract of cost recovery scheme (cost recovery).

"If the gross split, later split it will be what, then what price and volume of gas, who the buyer. Options are over, but who will buy the gas, "Alam said. Moreover, indeed TMR is meant to know The economy of the East Natuna Block itself.

As is known, TMR is required because of the characteristics of the East Natuna Block. This block reserve is estimated to be very large, reaching 222 trilin cubic feet. But the carbon dioxide content is also quite high, reaching 72%, so only 46 trillion cubic feet can be taken.

Previously, the development of the East Natuna Block is planned to be done gradually. The plan, in the first stage, the development of blocks on the border of Indonesia is started from the dominant AP structure structure of oil reserves. In the next stage, the dominant AL-structure of the gas with carbon dioxide content will reach 72%. However, this plan will be changed so that the development of AP and AL structures will be carried out simultaneously.

Syamsu Alam stated this has not been determined. "We have not talked to that, the fundamentals just yet," he said. Meanwhile, following the moratorium on PTT EP Thailand to engage in Indonesia, so far the Thai oil and gas company is still participating in the consortium. Simultaneously, Alam claimed to have requested PTT EP to discuss the matter with the Coordinating Ministry of Marine Affairs.

"We also understand there is a letter from the Coordinating Minister of Maritime, we also convey to PTT EP if you can come to the Ministry of Maritime Coordinator to get clarification," he said.

The government wants the development of the East Natuna Block to be accelerated to safeguard Indonesian sovereignty. The government has given direct assignment to block this block by Pertamina with opportunity to invite other oil and gas company as partners. In Necara Gas Nasional, East Natuna Block is targeted to start producing 2027 with a volume of 1 billion cubic feet per day.

IN INDONESIAN

Pertamina Rampungkan Kajian Blok East Natuna

PT Pertamina telah merampungkan kajian tekonolgi dan pasar (technology and market review/TMR) untuk pengembangan Blok East Natuna. Perseroan masih membahas kajian ini dengan anggota konsorsium. 

Direktur Hulu Pertamina Syamsu Alam mengatakan, sesuai target, TMR Blok East Natuna memang harus selesai tahun ini. Pihaknya telah merampungkan TMR tersebut dan kini masih membahas hal-hal fundamental yang perlu diklarifikasi segera dengan anggota konsorsium. Pertamina menggarap blok migas di lepas Laut Natuna ini bersama ExxonMobil dan PTT Thailand.

Setelah itu, pihaknya akan membahas TMR ini dengan pemerintah. “Kalau jadwalnya, memang harus diserahkan tahun ini. TMR ini sebetulnya Iebih untuk kami, konsorsium, untuk melihat keekonomiannya seperti apa,” kata dia.

Salah satu hal fundamental yang dibahas adalah penerapan kontrak kerja sama skema bagi hasil kotor (gross split) di Blok East Natuna. Pasalnya, dalam surat yang diterima Pertamina, pemerintah mengindikasikan akan menggunakan kontrak gross split di Blok East Natuna. Hal ini berbeda dengan skenario sebelumnya yang memakai kontrak skema biaya investasi yang dapat dikembalikan (cost recovery). 

“Kalau dengan gross split, nanti split-nya akan seperti apa, kemudian berapa harga dan volume gasnya, siapa pembelinya. Opsi-opsi sudah selesai, tetapi siapa yang akan beli gasnya ,” kata Alam. Apalagi, memang TMR dimaksudkan untuk mengetahui keekonomian dari Blok East Natuna itu sendiri. 

Seperti diketahui, TMR diperlukan karena karakteristik Blok East Natuna. Cadangan blok ini memang diperkirakan sangat besar, yakni mencapai 222 trilin kaki kubik. Namun kandungan karbondioksida-nya juga cukup tinggi, yaitu mencapai 72%, sehingga hanya 46 triliun kaki kubik saja yang dapat diambil. 

Sebelumnya, pengembangan Blok East Natuna rencananya dilakukan secara bertahap. Rencananya, pada tahap pertama, pengembangan blok di perbatasan Indonesia ini dimulai dari pengerjaan struktur AP yang dominan cadangan minyaknya. Pada tahap berikutnya, akan digarap struktur AL yang dominan gas dengan kandungan karbondioksia mencapai 72%. Namun, rencana ini akan diubah sehingga pengembangan struktur AP dan AL akan dilakukan bersamaan.

Syamsu Alam menyatakan hal ini belum ditentukan. “Kami belum bicara ke sana, yang fundamental dulu saja,” kata dia. Sementara itu, menyusul adanya moratorium terhadap PTT EP Thailand untuk berkegiatan di Indonesia, sejauh ini perusahaan migas Thailand itu masih ikut serta dalam konsorsium. Bersamaan dengan itu, Alam mengaku telah meminta PTT EP untuk membahas masalah ini dengan Kementerian Koordinator Kemaritiman.

“Kami juga memahami ada surat dari Menko Maritim, kami juga menyampaikan ke PTT EP kalau bisa datang ke Kementerian Koordinator Maritim untuk mendapatkan klarifikasi,” ujarnya. 

Pemerintah menginginkan pengembangan Blok East Natuna dipercepat untuk menjaga kedaulatan Indonesia. Pemerintah telah memberikan penugasan langsung agar blok ini dikerjakan oleh Pertamina dengan kesempatan mengajak perusahaan migas lain sebagai mitra. Dalam Necara Gas Nasional, Blok East Natuna ditargetkan mulai berproduksi 2027 dengan volume 1 miliar kaki kubik per hari.

Investor Daily, Page-9, Thursday, June 8, 2017

Middle East Conflict Reduces Oil Price

Oil Price Continue downward trend towards US $ 45 per barrel.

Diplomatic conflicts in the Middle East caused oil prices to collapse. Wednesday (7/6), at 15.00 WIB, WTI oil price of July 2017 delivery contract on the New York Mercantile Exchange fell 0.54% to US $ 47.93 per barrel compared to the previous day. In a week, the price fell 0.8%.

The decisions of several countries in the Middle East, such as Saudi Arabia, the United Arab Emirates, Bahrain and Egypt, cut ties with Qatar earlier this week to a negative sentiment for oil prices in the short term. Moreover, this action is feared could thwart the agreement on oil production restrictions between OPEC and Russia.

Currently, Qatar's oil production is 600,000 barrels per day. This figure is smaller than other OPEC members. But market participants said the tension between OPEC members could hamper oil prices.

However, Finex Futures analyst Nanang Wahyudin said the conflict could also lift oil prices. Therefore, the distribution process of oil delivery is disrupted after the closure of transportation routes, both air, land and sea. "Moreover, the US dollar exchange rate is weakening, thus helping to lift prices," said Nanang

He predicts, even if the Fed raised interest rates this month, commodity prices, including oil, will not fall significantly. The reason, market participants already anticipate it.

US production rose

Oil prices are also difficult to strengthen because US oil production (US) continues to sped. The American Petroleum Institute (API) reported that gasoline stocks in the US rose 4.08 million barrels. Now market participants are waiting for official data on US oil reserves from the Energy Information Administration (EIA), released Wednesday (7/6) evening local time.

US oil production is also expected to rise to 10 million barrels per day in 2018. "This year, US oil production is in the range of 9.3 million barrels per day," said Asia Tradepoint Futures Analyst Deddy Yusuf Siregar. This projection is the burden of oil prices in the long term.

Uncle Sam's decision came out of the climate change deal Paris is increasingly increasing the confidence of market participants that US oil production is rising.

Technically, Deddy saw oil prices rolling below the moving average (MA) 50, MA100 and MA200, suggesting a weakening trend. The moving average convergence divergence (MACD) indicator is in the negative area. Then stochastic down at level 36, as well as the relative strength index (RSI) which weakened to level 43.

Deddy predicted oil prices will still be down on Thursday (8/6) and move around US $ 46-US $ 49 per barrel. While Nanang estimates, oil prices in a week will move in the range of US $ 46-US $ 49 per barrel.

IN INDONESIAN

Konflik Timur Tengah Redam Harga Minyak

Harga minyak Ianjutkan tren penurunan menuju ke bawah US$ 45 per barel.

Konflik diplomatik di Timur Tengah membuat harga minyak kian terpuruk. Rabu (7/6), pukul 15.00 WIB, harga minyak WTI kontrak pengiriman Juli 2017 di New York Mercantile Exchange turun 0,54% menjadi US$ 47,93 per barel dibanding sehari sebelumnya. Dalam sepekan, harganya turun 0,8%. 

Keputusan beberapa negara di kawasan Timur Tengah, seperti Arab Saudi, Uni Emirat Arab, Bahrain dan Mesir, memutuskan hubungan dengan Qatar di awal pekan ini menjadi sentimen negatif bagi harga minyak dalam jangka pendek. Apalagi aksi ini dikhawatirkan bisa menggagalkan kesepakatan pembatasan produksi minyak antara OPEC dengan Rusia.

Saat ini, produksi minyak Qatar sebesar 600.000 barel per hari. Angka ini lebih kecil daripada anggota OPEC lainnya. Tapi pelaku pasar menilai ketegangan antara anggota OPEC bisa menghambat penguatan harga minyak. 

Namun, Analis Finex Berjangka Nanang Wahyudin menyebut, konflik tersebut juga bisa mengangkat harga minyak. Sebab, proses distribusi pengiriman minyak terganggu setelah adanya penutupan jalur transportasi, baik udara, darat dan laut. "Apalagi nilai tukar dollar AS sedang melemah, sehingga membantu mengangkat harga," kata Nanang

Ia memprediksi, jika pun The Fed menaikkan suku bunga bulan ini, harga-harga komoditas, termasuk minyak, tidak akan turun signifikan. Alasannya, pelaku pasar sudah mengantisipasi hal itu.

Produksi AS naik 

Harga minyak juga sulit menguat lantaran produksi minyak Amerika Serikat (AS) terus melesat. American Petroleum Institute (API) melaporkan, stok bahan bakar bensin di AS naik 4,08 juta barel. Kini pelaku pasar menanti data resmi cadangan minyak AS dari Energi Information Administration (EIA), yang dirilis Rabu (7/6) malam waktu setempat.

Produksi minyak AS juga diperkirakan naik menjadi 10 juta barel per hari di 2018 nanti. "Tahun ini, produksi minyak AS di kisaran 9,3 juta barel per hari," kata Analis Asia Tradepoint Futures Deddy Yusuf Siregar. Proyeksi ini menjadi beban harga minyak dalam jangka panjang. 

Keputusan Negeri Paman Sam keluar dari kesepakatan perubahan iklim Paris makin memperbesar keyakinan pelaku pasar bahwa produksi minyak AS naik.

Secara teknikal, Deddy melihat harga minyak bergulir di bawah moving average (MA) 50, MA100 dan MA200, menunjukkan tren melemah. Indikator moving average convergence divergence (MACD) berada di area negatif. Lalu stochastic turun di level 36, demikian juga dengan relative strength index (RSI) yang melemah ke level 43.

Deddy memprediksi harga minyak masih tergerus pada Kamis (8/6) dan bergerak dikisaran US$ 46-US$ 49 per barel. Sedangkan Nanang memperkirakan, harga minyak dalam sepekan akan bergerak di rentang US$ 46-US$ 49 per barel.

Kontan, Page-7, Thursday, June 8, 2017

Market Review Completed

East Natuna Development

The consortium of contractors of East Natuna Block has completed the technology and market review to work on oil and gas working area located in Natuna waters of Riau Islands.

The consortium that is a contractor of East Natuna consists of PT Pertamina PTT EP Thailand, and ExxonMobil. Pertamina as the consortium leader has completed a study to select appropriate technology, oil and gas production volumes, and consumers who will utilize gas from the block. The consortium conducts technology and market studies for 18 months starting in early 2016.

Upstream Director of Pertamina Syamsu Alam said that the completion of the market study was in accordance with the target set. The results of the study are still discussed at the consortium level to see the field economy. However, it has not been able to decide about the development of Natuna gas because it needs to discuss provisions in the contract of cooperation first.

The government wants activities in the East Natuna Block to be executed immediately due to its strategic location and potential for large-scale gas development.

The government had previously wanted the development of oil structures to start first despite the volume is smaller than gas. However, it was not done because the study of technology and market has not been completed. When the development of the oil structure begins, there is uncertainty from the side of the clause in the contract of cooperation that must be adjusted.

Associated with the type of cooperation contract that is used leads to the use of gross split-sharing contracts when referring to letters received by the consortium. However, the entire consortium activities plan still uses the assumption of production sharing contract (PSC) which still implements cost recovery returns. If any gross split is to be applied, the consortium should review the composition of the contractor's share and the economic aspects of field development.

Because the development of the gas field requires certainty related to the volume of gas to be developed, who will absorb the gas, and what the selling price of gas. Now, since it was discovered in the 1970s and named Natuna D Alpha, the project has not been developed until the contract expires and is renamed East Natuna.

Based on data from the ESDM Ministry, East Natuna Block holds the potential of 222 trillion cubic feet (Tcf) with only 46 Tcf of which gas can be produced. The reason, 72% of the composition is carbon dioxide.

The government has even incorporated the East Natuna Block into the list of projects that will deliver its first gas in 2027 with 1,000 million cubic feet per day (MMscfd).

"Nami when it's gross split, it means it's different from the first scenario. If used to still use the PSC, "he said. In addition, it has requested to members of the consortium, PTT EP Thailand to obtain clarification from the Coordinating Ministry for the Ministry of Marine Affairs related to the moratorium on activities related to the Montara oil spill.

"We again ask PTT EP to communicate with the Coordinating Minister of Maritime."

Quoted from the BMI Research report, Indonesia is the second largest exporter of liquefied natural gas (LNG) after Qatar with an ability to export 3.9 million tons of LNG in the quarter l / 2017 but is expected to import LNG by 2022.

Meanwhile, Pertamina and energy company from Australia, Woodside signed an agreement to supply 1.1 million tons of LNG per year for 20 years. In his official statement, Australian Ambassador to Indonesia Paul Grigson said the deal was the first deal with an Australian company.

IN INDONESIAN

Kajian Pasar Rampung

Konsorsium kontraktor Blok East Natuna telah menyelesaikan kajian teknologi dan pasar untuk menggarap wilayah kerja minyak dan gas bumi yang berlokasi di perairan Natuna Kepulauan Riau.

Konsorsium yang menjadi kontraktor East Natuna terdiri dari PT Pertamina PTT EP Thailand, dan ExxonMobil. Pertamina sebagai pemimpin konsorsium tersebut telah menyelesaikan kajian untuk memilih tekonologi yang tepat, volume produksi migas, dan konsumen yang akan memanfaatkan gas dari blok tersebut. Konsorsium melakukan kajian teknologi dan pasar selama 18 bulan yang dimulai sejak awal 2016.

Direktur Hulu Pertamina Syamsu Alam mengatakan bahwa penyelesaian kajian pasar itu sesuai dengan target yang telah ditetapkan. Hasil kajian masih dibahas di tingkat konsorsium untuk melihat keekonomian lapangan. Namun, pihaknya belum bisa memutuskan tentang pengembangan gas Natuna karena perlu membahas ketentuan dalam kontrak kerja samanya Iebih dulu.

Pemerintah menginginkan agar kegiatan di Blok East Natuna bisa segera dieksekusi karena lokasinya strategis dan potensi pengembangan gas dengan volume besar.

Pemerintah pun sebelumnya menginginkan agar pengembangan struktur minyak bisa dimulai Iebih dulu kendati volumenya Iebih kecil daripada gas. Namun, hal itu urung dilakukan karena kajian teknologi dan pasar belum selesai dilakukan. Bila pengembangan struktur minyak dimulai, ada ketidakpastian dari sisi klausul dalam kontrak kerja samanya yang harus mengalami penyesuaian.

Terkait dengan jenis kontrak kerja sama yang digunakan mengarah ke penggunaan kontrak bagi hasil kotor atau gross split bila mengacu pada surat yang diterima konsorsium. Namun, seluruh rencana kegiatan konsorsium masih menggunakan asumsi kontrak bagi hasil (production sharing contract/ PSC) yang masih menerapkan pengembalian biaya operasi (cost recovery). Bila pun akan menerapkan gross split, konsorsium harus melihat kembali komposisi bagi hasil kontraktor dan aspek keekonomian pengembangan lapangan. 

Pasalnya, pengembangan lapangan gas membutuhkan kepastian terkait dengan volume gas yang akan dikembangkan, siapa yang akan menyerap gas, dan berapa harga jual gas. Adapun, sejak ditemukan pada 1970-an dan bernama Natuna D Alpha, proyek tersebut belum bisa dikembangkan hingga kontraknya berakhir dan berganti nama menjadi East Natuna. 

Berdasarkan data Kementerian ESDM, Blok East Natuna menyimpan potensi sebanyak 222 triliun cubic feet (Tcf) dengan hanya 46 Tcf gas di antaranya yang bisa diproduksi. Pasalnya, 72% komposisinya adalah karbondioksida.

Pemerintah bahkan telah memasukkan Blok East Natuna kedalam daftar proyek yang akan mengalirkan gas pertamanya pada 2027 dengan produksi 1.000 juta kaki kubik per hari (MMscfd).

“Nami kalau sudah gross split, berarti sudah berbeda dengan skenario dulu. Kalau dulu masih mengunakan PSC,” katanya. Selain itu, pihaknya telah meminta kepada anggota konsorsium, PTT EP Thailand untuk mendapatkan klarifikasi dari Kementerian Koordinator Bidang Kemaritiman terkait dengan moratorium kegiatan berkenaan dengan tumpahan minyak Montara.

"Kami lagi minta PTT EP untuk komunikasi dengan Menteri Koordinator Maritim."

Dikutip dari laporan BMI Research, lndonesia sebagai negara kedua pengekspor gas alam cair (LNG) terbesar setelah Qatar dengan kemampuan ekspor 3,9 juta ton LNG pada kuartal l/2017 tetapi diperkirakan mengimpor LNG pada 2022. 

Sementara itu, Pertamina dan perusahaan energi asal Australia, Woodside menandatangani perjanjian penyediaan 1,1 juta ton LNG per tahun selama 20 tahun. Dalam keterangan resminya, Duta Besar Australia untuk Indonesia Paul Grigson mengatakan, kesepakatan itu merupakan transaksi perdana dengan perusahaan asal Australia. 

Bisnis Indonesia, Page-30, Thursday, June 8, 2017

PGN Claim In Conformity

Alleged monopoly of gas prices

PT Perusahaan Gas Negara Tbk. Claiming that industrial gas price adjustment is decided based on the legal norms stipulated by the Ministry of Energy and Mineral Resources.

Currently PGN is wrapped up in a case in the Business Competition Supervisory Commission (KPPU) for allegedly violating Article 17 of Law no. 5/1999 on Monopolistic Practices and Unfair Competition related to monopolistic practice in determining industrial gas price in Medan area.

PGN's lawyer (reported), Yahdi Salampessy from Total Consulting law Firm, said the allegations against PGN were inappropriate, and not in accordance with the facts and rules that apply.

In the initial investigation of KPPU in the case No. 09 / KPPU-L / 2016, PGN allegedly set unilateral price without considering the purchasing power of industrial gas customers, PGN called utilizing monopoly polices to set a very high price.

Yahdi explained that based on Article 33 Paragraph (2) of the 1945 Constitution which states that the important production branch for the country is controlled by the state and used for the greatest prosperity of the people.

"As the resources that affect the livelihood of the people, the price of natural gas fuel based on the provisions of legislation is not submitted to the mechanism of fair and reasonable business competition," he said on Wednesday (7/6). The Reported Party considered that the authority was based on the decision of the Constitutional Court. 002 / PUU-I / 2003 concerning the Application of Formal Material Test against Law no. 22/2001 on Oil and Gas.

In addition, in determining the price, it is always in compliance with Government Regulation no. 30/2009 on revision of Government Regulation no. 36/2004 on Oil and Gas Downstream Business Activities as well as Regulation of the Minister of Energy and Mineral Resources no. 21/2008 on Guidelines on the Pricing of Selling of Oil and Natural Gas.

Yahdi claims that what PGN is doing is excluded in the provisions of Law no. 5/1999, namely in Article 50 letters. Meanwhile, Chairman of KPPU Investigator Team Dinni Melanie said that he will present the user industry players, the government to expert witnesses to prove the allegation of unilateral industrial gas price determination by PGN. According to the facts of the trial, the allegations of unilateral price fixing strengthened.

IN INDONESIAN

PGN Klaim Sesuai Hukum

PT Perusahaan Gas Negara Tbk. mengklaim penyesuaian harga gas industri diputuskan berdasarkan norma hukum penetapan dari Kementerian Energi dan Sumber Daya Mineral.

Saat ini PGN terbelit perkara di Komisi Pengawas Persaingan Usaha (KPPU) karena diduga melanggar Pasal 17 UU No. 5/1999 tentang Praktik Monopoli Dan Persaingan Tidak Sehat terkait dengan praktik monopoli dalam penentuan harga gas industri di area Medan. 

Kuasa hukum PGN (terlapor), Yahdi Salampessy dari Total Consulting law Firm, mengatakan tuduhan terhadap PGN itu tidak tepat, dan tidak sesuai dengan fakta dan aturan yang berlaku.

Dalam investigasi awal KPPU dalam perkara No. 09/KPPU-L/2016 ini, PGN diduga menetapkan harga sepihak tanpa mempertimbangkan kemampuan daya beli pelanggan gas industri, PGN disebut memanfaatkan polsi monopolinya untuk menetapkan harga yang sangat tinggi.

Yahdi menjelaskan berdasarkan Pasal 33 ayat (2) Undang-Undang Dasar 1945 yang menyatakan bahwa cabang produksi yang penting bagi negeri dikuasai oleh negara dan dipergunakan sebesar-besarnya untuk kemakmuran rakyat.

“Sebagai sumber daya yang menguasai hajat hidup orang banyak, maka harga bahan bakar gas bumi berdasarkan ketentuan peraturan perundang-undangan tidak diserahkan pada mekanisme persaingan usaha yang sehat dan wajar,” tuturnya, Rabu (7/6). Terlapor menganggap kewenangan tersebut didasarkan putusan Mahkamah Konstitusi No. 002/PUU-I/2003 tentang Permohonan Uji Formil Materi terhadap Undang-Undang No. 22/2001 tentang Minyak dan Gas Bumi.

Selain itu, dalam penentuan harga, pihaknya selalu patuh dengan Peraturan Pemerintah No. 30/2009 tentang revisi Peraturan Pemerintah No. 36 /2004 tentang Kegiatan Usaha Hilir Minyak dan Gas Bumi serta Peraturan Menteri Energi dan Sumber Daya Mineral No. 21/2008 tentang Pedoman Penetapan Harga Jual bahan Bakan Minyak dan Gas Bumi.

Yahdi mengklaim apa yang dilakukan PGN dikecualikan dalam ketentuan Undang-Undang No. 5/1999, yakni dalam Pasal 50 huruf. Sementara itu, Ketua Tim lnvestigator KPPU Dinni Melanie mengatakan akan menghadirkan pelaku industri pengguna, pemerintah hingga saksi ahli untuk membuktikan dugaan penentuan harga gas industri sepihak oleh PGN. Menurutnya dari fakta persidangan, dugaan adanya penetapan harga sepihak menguat.

Bisnis Indonesia, Page-11, Thursday, June 8, 2017