Hanwha Aerospace Sets Sights on Global LNG Dominance

Hanwha Aerospace has announced plans to establish a U.S.-based entity dedicated to its liquefied natural gas (LNG) business, Hanwha Horizon USA. The company aims to strengthen its presence in the global energy supply chain and enhance Korea's energy security through this move.

The new entity will serve as a command center for Hanwha Aerospace's LNG operations, overseeing areas such as procurement, sales, trading, and logistics. Initially, Hanwha Horizon USA will secure LNG for Hanwha Energy's LNG power plant in Yeosu, South Jeolla, scheduled to come online in 2029.

Hanwha Aerospace has already taken steps to secure LNG supplies by signing a purchase agreement with Venture Global, a major U.S.-based LNG producer. The company also signed a memorandum of understanding with state-run Korea Southern Power to jointly strengthen LNG procurement and diversify supply sources.