Hanwha Aerospace Launches New LNG Trading Hub in USA
Hanwha Aerospace has expanded its presence in the U.S. liquefied natural gas (LNG) sector by establishing a new American entity called Hanwha Horizon USA.
The company will oversee the entire spectrum of LNG acquisition, commercial trading, and logistics refinement. James Sagar, CEO of Hanwha Shipping, will also lead the newly formed company, emphasizing the strategic importance of maritime operations in Hanwha's global initiatives.
Hanwha has secured a purchase contract for LNG with U.S.-based producer Venture Global and is partnering with Korea Southern Power to diversify South Korea's LNG supply sources. The group aims to market LNG to additional utility providers and energy firms, while expanding its trading reach throughout Asia and other global markets.