KUALA LUMPUR, Feb 17 -- Uzma Bhd, through its wholly-owned subsidiary Uzma Engineering Sdn Bhd has secured two licences from the Energy Commission to import liquefied natural gas (LNG) for regasification and a shipping licence to transport or distribute natural gas within Malaysia.
The licences were issued by virtue of the Gas Supply Act 1993 [Act 501] (as amended by the Gas Supply (Amendment) Act 2016) and will take effect on Feb 17, 2021 and valid for a period of 10 years.
Uzma group chief executive officer Datuk Kamarul Redzuan said the licences would enable the group to continue supporting the Malaysian energy sector and diversify its business further downstream.
“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," he said in a statement today.
Uzma said the licences allowed the group to bring LNG into a regasification terminal into or within Malaysia by transhipment, and to transport or distribute natural gas via regasification terminal or pipelines to consumer premises within Malaysia under the Third-Party Access system.
The 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 and gas upstream projects as well as a segment made up of stable and recurring revenue.
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