Hanwha Aerospace Launches US-Based LNG Entity
Hanwha Aerospace is expanding its presence in the global energy market by establishing a US entity dedicated to liquefied natural gas (LNG) business. The new company, Hanwha Horizon USA, will serve as a control tower for Hanwha's LNG operations, overseeing procurement, sales, trading, and logistics. This move is part of Hanwha Aerospace's efforts to enhance South Korea's energy security and strengthen energy cooperation between the two countries.
Hanwha Horizon USA will initially supply LNG to Hanwha Energy Co.'s power plant in Yeosu, scheduled to come online in 2029. The company also plans to expand into LNG trading across Asia and other global markets.
According to CEO James Sagar, the launch of Hanwha Horizon USA is a turning point that connects their global LNG procurement capabilities with their shipbuilding and maritime businesses. This move aims to build a stable LNG supply chain that can respond flexibly to market changes.