Uzma pens LNG supply pact in Malaysia
Manila-listed Uzma’s 70%-owned subsidiary, Uzma LNG, has entered into an agreement with ND Paper Malaysia for the supply of LNG via a virtual pipeline, the company said on March 31 in a stock exchange filing.
The LNG supply agreement is for two years starting on March 15, 2023, until March 14, 2025. The value of the contract is more than 70mn ringgit for year one subject to LNG supplied and the prevailing market price at the time of delivery, Uzma said.
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ND Paper is a subsidiary of Nine Dragons Paper, a company listed in Hong Kong with headquarters in Dongguan City, Guangdong, China. It is the second-largest paper manufacturing group worldwide in terms of production capacity and China's leading paper producer.