Hanwha Aerospace Expands US LNG Operations with New Entity

Hanwha Aerospace is expanding its liquefied natural gas (LNG) business in the United States. The South Korean defense company plans to establish Hanwha Horizon USA, which will coordinate LNG operations from procurement to sales and trading.

The new US entity will be headed by James Sagar, CEO of Hanwha Shipping. At its initial stage, it will procure LNG for a power plant in Yeosu, South Korea, scheduled to begin operations in 2029.

Hanwha Horizon USA aims to supply LNG to other power plant operators and energy companies, as well as develop liquefied gas trading in Asia and global markets. The company has already signed an LNG procurement agreement with Venture Global, a major US producer of liquefied gas.