PETALING JAYA: Uzma Bhd’s wholly owned subsidiary Uzma Engineering Sdn Bhd (UESB) has been awarded two licences by the Energy Commission for the Third-Party Access System, namely a licence to import liquefied natural gas (LNG) into regasification terminalsh, and a licence to ship LNG within Malaysia.
The import licence allows UESB to carry out activity of an import into regasification terminal, bringing or causing to be brought LNG into or within Malaysia by any means other than transhipment.
The shipping licence grants UESB the right to carry out activity of a shipping licensee including making an arrangement with a regasification, transportation or distribution licensee for gas to be processed or delivered through a regasification terminal, transmission pipeline or distribution pipeline to consumers’ premises.
The licences were issued by virtue of the Gas Supply Act 1993 [Act 501] and will take effect from Feb 3 and will be valid for a period of 10 years.
“Uzma Group is excited to embark on the new opportunity within the LNG space and to play a role in ensuring the country’s energy needs are met. These licences will enable Uzma to continue to support the local energy sector and diversify our business further downstream,” said group CEO Datuk Kamarul Redzuan.
This new business segment is part of Uzma’s five-year plan to broaden its earnings base and to build a healthy revenue mix of ongoing oil & gas upstream projects as well as a segment made up of stable and recurring revenue.
The new business segment is part of Uzma’s five-year plan to broaden its earnings base and to build a healthy revenue mix. – Uzma website pix
