Indonesia's PGN eyes higher gas distribution this year

JAKARTA, June 23 (Reuters) - Indonesian gas distribution firm PT Perusahaan Gas Negara Tbk (PGAS.JK) will increase its distribution target to as much as 800 million standard cubic feet per day, said President Director Hendi Prio Santoso on Tuesday.

"This year we aim (to distribute) around 700-800 million cubic (feet) per day, from an average of 578 million per day last year," Santoso told reporters following a shareholder meeting.

PGN, which has a market capitalisation of $6.81 billion, distributes gas from exploration blocks mostly to industrial users such as fertiliser companies and manufacturers. (Reporting by Andreas Ismar; Writing by Tyagita Silka; Editing by Sara Webb)