NYK Concludes Investment and Strategic Partnership Agreements with Shipping Subsidiary of Indonesia’s State-Owned Pertamina
NYK has concluded an investment agreement and a strategic alliance agreement with PT Pertamina International Shipping (PIS), a shipping subsidiary of PT Pertamina (Persero), an Indonesian state-owned oil and gas company. In October, the parties had reached an agreement in principle on the investment.
A signing ceremony was held in Tokyo on December 1 and was attended by Indonesian Ambassador to Japan Heri Akhmadi, PT Pertamina (Persero) President Nicke Widyawati, PIS President Yoki Firnandi, and others.
Pertamina is the largest state-owned oil and gas company in Indonesia, where energy demand is expected to continue to increase in tandem with the nation’s remarkable economic growth. NYK has been collaborating with PIS, a shipping subsidiary of Pertamina, particularly in ship management in the field of energy transportation.
NYK will contribute to Indonesia’s development by collaborating with PIS in a wide range of businesses, including those associated with crude oil, petroleum products, LNG transportation, floating storage and regasification units (FSRUs), and carbon capture and storage (CCS),* for which demand is expected to grow in the future to realize a carbon-neutral society.
Akira Kono, senior managing executive officer and chief executive of NYK’s Energy Division, commented,
”We are very pleased to invest in PIS and to have entered into a strategic alliance agreement with PIS. We look forward to collaborating with PT Pertamina (Persero) and PIS in the energy field in the future. NYK will continue to contribute to Indonesia’s development through its energy transportation business by combining the technological capabilities that PT Pertamina (Persero) and PIS have cultivated over many years in the energy field, in addition to their networks around the world and in Indonesia, with NYK’s knowledge and technology as one of the world’s largest shipping companies and a leader in the shipping industry.”
In February 2021, NYK released the “NYK Group ESG Story,” which aims to further integrate ESG into the company’s management strategy and promotes activities that contribute to the achievement of the SDGs through business activities. In March this year, NYK released the updated “NYK Group ESG Story 2022,” which introduces initiatives for integrating ESG into the Group’s management strategies set forth in the “NYK Group ESG Story” and provides a partial explanation of the Group’s sustainable growth strategy from a long-term perspective. To strongly promote ESG management, the NYK Group will promote the creation of new value as a sustainable solution provider.
Source: Nippon Yusen Kaisha