Commodities
Criterium Energy Lands Long-Term Gas Sales Deal with Indonesia's PGN
Criterium Energy Ltd., a Calgary-based company, has secured a long-term gas sales agreement with PT Perusahaan Gas Negara Tbk (PGN), Indonesia's largest natural gas transportation and distribution company.
The deal, signed through Criterium's subsidiary Mont D'Or Oil Tungkal Limited, will provide a contracted market for gas production from the Tungkal Production Sharing Contract until 2040. The agreement includes a take-or-pay commitment with fixed pricing, although specific volumes and pricing terms remain confidential.
The contracted gas price aligns with recent domestic Indonesian gas sales agreements and maintains Criterium's previous guidance for realized pricing in the upper range of $6.00 to $7.00 per million British thermal units.