Hanwha Aerospace Launches US LNG Entity Amid Global Energy Expansion

Hanwha Aerospace is expanding its presence in the global energy market by establishing a US entity dedicated to its liquefied natural gas (LNG) business.

The company will launch Hanwha Horizon USA, which will serve as a control tower for its LNG operations, overseeing areas ranging from procurement to sales and trading to logistics. James Sagar, CEO of Hanwha Shipping, will also head Hanwha Horizon USA.

Hanwha Horizon USA will initially secure LNG for Hanwha Energy Co.'s LNG power plant in Yeosu, South Korea, scheduled to come online in 2029. The entity plans to supply LNG to other power plant operators and energy companies, as well as expand into LNG trading across Asia and other global markets.

Hanwha Aerospace aims to enhance South Korea's energy security and strengthen energy cooperation between South Korea and the United States through this initiative. The company has already taken steps to secure LNG supplies by signing a purchase agreement with Venture Global, a major US LNG producer.