PT Pertamina International Shipping (PIS) has signed an agreement with BGN, a leader in global energy, in which the two companies outlined prospective collaborations that span joint ownership of Very Large Gas Carrier (VLGC) vessels, LPG cargo transportation, vessel leasing, amongst others, establishing the foundation for an enduring partnership.

 

The first two vessels may be delivered as early as the first quarter of 2024.

 

With a current fleet size of 97 vessels, this deal further strengthens PIS's position as a key player in the maritime industry.

 

Maritime assets

It also reinforces BGN's position as an emerging maritime asset owner, with a growing number of LPG carriers in its fleet to facilitate the company's trading operations.

 

BGN, present in 23 countries including offices in Dubai, Geneva, Houston, Rotterdam and Singapore, is a significant LPG trader and is a supplier to Indonesia.

 

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).

 

The collaborative agreement was signed by PIS CEO Yoki Firnandi, and BGN CEO Ruya Bayegan, and witnessed by the Head of SKK Migas Dwi Soetjipto, Independent Commissioner of PT Pertamina (Persero) Iggi 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.

 

"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.

 

BGN CEO Ruya Bayegan added "BGN excels at strong business partnerships and we are pleased to move forward with this new arrangement with Pertamina International Shipping (PIS). BGN's collaboration with PIS 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." --OGN/ TradeArabia News Service