KUALA LUMPUR, Nov 22 (Bernama) — PETRONAS Gas Berhad (PGB) closed the third quarter of 2021 with Profit After Tax (PAT) of RM1.62 billion, 4% higher compared to the same period last year. The solid performance was delivered on the back of stronger margins from both the Utilities and Regasification business segments.
Amidst the first phase of the National Recovery Plan, PGB continues to sustain high reliability across all business segments, resulting in steady gas and utilities product delivery to the customers. The Utilities segment has benefitted from the change in fuel gas pricing from regulated to reference market price effective November 2020, amidst higher volumes from existing and new customers. At the same time, the Regasification segment recorded higher margin on the back of new revenue streams from LNG ancillary services and lower operating costs.