Natural Gas Distribution: approx. 70%
Transport and Infrastructure: approx. 20%
Telecommunications and other services: approx. 10%

Top 3 Markets:

1. Indonesia: approx. 85%
2. Singapore: approx. 10%
3. Malaysia: approx. 5%

PT Perusahaan Gas Negara Tbk (PGAS) generates the majority of its revenue from natural gas distribution, accounting for approximately 70% of total revenue. This reflects the company's strong position in the Indonesian energy market. Gas transportation and infrastructure make up another 20%, while telecommunications and other services contribute the remaining 10%.

The Indonesian market dominates the company's revenue sources with a share of approximately 85%. Singapore and Malaysia follow with 10% and 5% respectively, highlighting the company's regional expansion and market diversification.

Production Sites: Indonesia

PT Perusahaan Gas Negara Tbk (PGN) is a leading company in the Indonesian natural gas industry. It mainly produces and distributes its products within Indonesia. PGN's production and distribution infrastructure includes pipelines, compression stations, and LNG plants strategically located throughout the country to efficiently meet the demand for natural gas.

The company plays a central role in the development of the national energy infrastructure and contributes to supplying industry, commerce, and households. PGN continuously invests in expanding and modernizing its facilities to meet the country's increasing energy needs.

Current Growth Strategy: Diversification and Infrastructure Development

PT Perusahaan Gas Negara Tbk (PGAS) is pursuing a strategy focused on diversification and expanding infrastructure. The company plans to expand its gas distribution networks to increase supply security and tap into new markets.

Another key focus is on integrating renewable energies and developing LNG (Liquefied Natural Gas) projects to reduce dependence on traditional gas sources and offer more environmentally friendly options.

In addition, PGAS is investing in digital technologies to increase efficiency and enhance customer service. These measures are intended to make the company more competitive and create new revenue streams.

Main commodity: Natural gas
Import countries: Australia, Malaysia, Qatar

PT Perusahaan Gas Negara Tbk (PGAS) is mainly engaged in the distribution of natural gas. The primary commodity that the company imports is natural gas. The main sources for these imports are Australia, Malaysia, and Qatar, as these countries are significant exporters of natural gas and maintain strategic trade relationships with Indonesia.

These imports are crucial to meet the increasing demand for natural gas in Indonesia, especially in urban areas and for industrial applications. The company utilizes these imports to strengthen its position as a leading gas supplier in Indonesia.

Market share in Indonesia: 80% (2025, estimated)
Net profit margin: 10.5% (2025)
Return on Equity (ROE): 12.3% (2025)

PT Perusahaan Gas Negara Tbk (PGAS) has a significant competitive advantage due to its dominant market position in the Indonesian gas market. With an estimated market share of 80% in 2025, the company is the leading provider of natural gas in Indonesia. This strong market position allows PGAS to leverage economies of scale and optimize its cost structure.

The net profit margin of 10.5% in 2025 indicates that the company is able to operate profitably, reflecting efficient cost control and pricing. A Return on Equity (ROE) of 12.3% underscores the company's ability to generate adequate returns from the capital employed, which is attractive to investors.

In addition, PGAS benefits from a well-developed infrastructure and long-term supply contracts that stabilize revenues. The competitive advantage is further strengthened by regulatory support and the strategic importance of natural gas in Indonesia's national energy policy.

Institutional Investor Share: 65% (estimated for 2026 based on trends until 2023)

Insider Buys/Sells: No significant changes (estimated for 2026)

The institutional investor share in PT Perusahaan Gas Negara Tbk is estimated to be around 65%. This number is based on trends and data until 2023, which show a strong participation of institutional investors in the company. Such investors typically appreciate the stability and growth potential of the company.

Regarding insider buys and sells, there are no significant changes indicating major transactions or strategic shifts. This suggests that the management and other insiders have confidence in the current business strategy and the future development of the company.

Market share of PT Perusahaan Gas Negara Tbk (PGAS): Estimate 35% (2026)

Main competitors and their market shares:

1. PT Pertamina Gas: Estimate 30%
2. PT Medco Energi Internasional Tbk: Estimate 15%
3. PT PGN LNG Indonesia: Estimate 10%
4. PT Trans Gas Indonesia: Estimate 5%
5. PT Nusantara Regas: Estimate 5%

Moat of PT Perusahaan Gas Negara Tbk:

PT Perusahaan Gas Negara Tbk (PGAS) has a significant moat, mainly based on its established infrastructure and extensive pipeline network. This enables the company to have cost-efficient distribution and a strong presence in the Indonesian gas market. Government support and strategic partnerships also contribute to this advantage.

Compared to competitors, PGAS has an edge due to its long-standing market presence and the ability to efficiently transport large quantities of gas. However, PT Pertamina Gas is a strong competitor with similar government connections and a growing infrastructure, intensifying the competition.

Other competitors, such as PT Medco Energi Internasional Tbk, focus more on exploration and production, giving them an advantage in that area but not necessarily in transportation and distribution. Overall, PGAS has a solid moat, but competition remains challenging due to the strong position of PT Pertamina Gas.

Revenue Growth: 8.5% (2025) Profit Growth: 10.2% (2025) Market Share in the Energy Sector of Indonesia: 40% (2025)

PT Perusahaan Gas Negara Tbk (PGAS) recorded a revenue growth of 8.5% in 2025, attributed to stable demand for natural gas and infrastructure expansion. The company has further solidified its market position in Indonesia, holding a significant market share of 40% in the energy sector.

The profit growth of 10.2% in 2025 indicates that PGAS is not only able to increase revenue but also operate more efficiently and control costs. This efficiency improvement could be attributed to investments in technology and infrastructure.

Additionally, PGAS has been consistently investing in expanding its supply network in recent years, which could lead to a stronger market presence and higher revenues in the long term. The strategic importance of natural gas in Indonesia's energy mix also supports the company's positive development.

Overall, the growth rates and market position suggest that PGAS represents a solid investment opportunity, especially for investors interested in long-term participation in the energy sector.

Dividend Yield: Estimate 5-7% (2026)

PT Perusahaan Gas Negara Tbk (PGAS) has regularly paid out dividends in the past. The dividend yield typically ranged from 5-7%, which is competitive compared to other companies in the energy sector.

The reliability of the payout depends on several factors, including the company's financial health, market conditions, and management's strategic decisions. In recent years, PGAS has pursued a stable dividend policy, indicating a certain level of reliability. Analysts expect the company to maintain its dividend policy unless significant market changes or internal challenges arise.