Pipeline grid

PGN

Pertamina

Qualified buyers

Off-grid truck

Market-priced

• Publicly listed state-owned gas utility

• Sovereign-grade credit risk

• Jabodetabek, West Java, parts of East Java, limited Sumatra

• Direct CBG injection at Pasarjaya and Bandung

• Primary anchor counterparty for both

• Integrated state oil and gas major

• Sovereign-grade credit risk

• Truck-mounted CBG distribution to industrial buyers

• Primary alternative for Lamsel if PGN pipeline absent

• Same anchor pricing across all channels

• Industrial gas consumers (cement, palm oil, manufacturing)

• Independent CBG distributors

• Prevailing CBG market pricing — anchor benchmark holds

• Reduces single-counterparty concentration

• Available across all three SPVs

PER-SPV OFFTAKE ROUTING