Criterium Energy Ltd. (TSXV: CEQ) announced on September 9, 2026, that it has signed a binding Facility Sharing Agreement ("FSA") with Jindi South Jambi B Co. Limited, granting Criterium access to the 30 mmcf/d Teluk Rendah Gas Plant and a 60-kilometre pipeline connecting to the Sekernan gas sales point. Combined with a previously completed Gas Sales Agreement, the company states that the key commercial agreements required for first gas from its SE-MGH development are now in place. The milestone is significant for investors tracking Criterium's progress toward monetising its Tungkal PSC assets in Indonesia.

Key Points

  • Criterium Energy Ltd. (TSXV: CEQ) is a Calgary-based upstream energy company focused on Southeast Asia.
  • Criterium signed a definitive Facility Sharing Agreement with Jindi on September 8, 2026, for access to the Teluk Rendah Gas Plant and TRGP-Sekernan Pipeline.
  • The TRGP has a processing capacity of 30 mmcf/d; the pipeline spans 60 kilometres to the Sekernan delivery point; first gas from SE-MGH remains scheduled for Q3 2026.
  • Investors may be watching whether Criterium meets its Q3 2026 first-gas target and how shared operating costs with Jindi affect near-term cash flow.

FSA Terms Grant Criterium Shared Access to Critical Indonesian Infrastructure

Under the FSA, Criterium's wholly owned subsidiary Mont D'Or Oil Tungkal Limited gains access to the Teluk Rendah Gas Plant, which carries a processing capacity of 30 mmcf/d, and the 10-inch, 60-kilometre TRGP-Sekernan Pipeline connecting to the delivery point specified in the Gas Sales Agreement. The agreement was executed on an arm's-length basis. Jindi retains operatorship of the facilities, while operating costs, capital expenditures, facility upgrade costs, and contributions to an abandonment and site reclamation fund will be shared between the two parties based on throughput. Capital expenditures are subject to mutual agreement, with costs reconciled annually.

Infrastructure History and Refurbishment Supporting Near-Term Development Plans

The Teluk Rendah Gas Plant and TRGP-Sekernan Pipeline were originally constructed in 2004 by ConocoPhillips and subsequently upgraded and refurbished by Jindi in 2020 and 2021. The release states that both facilities are expected to provide sufficient capacity to support Criterium's near-term gas development plans within the Tungkal PSC. The company has framed shared-cost access to this existing infrastructure as a means of strengthening its position in Indonesia's domestic gas market without bearing the full capital burden of new facility construction.

SE-MGH First Gas Target and Broader Portfolio Strategy

President and CEO Matthew Klukas stated in the announcement that completion of the FSA is "another critical milestone" advancing the SE-MGH gas development, which the company says remains scheduled for Q3 2026. The release indicates that Criterium views cash flow expected to be generated from SE-MGH as a platform for developing its broader gas portfolio across Southeast Asia. With both the FSA and the Gas Sales Agreement now in place, the company characterises the commercial foundation for the SE-MGH project as complete. The immediate share price impact was not clear from available public information.