Hanwha Aerospace Unveils New LNG Entity with Global Ambitions

Hanwha Aerospace is expanding its presence in the global LNG market by launching Hanwha Horizon USA, a new entity that will oversee the company's liquefied natural gas business. The new entity will be led by James Sagar, CEO of Hanwha Shipping, who brings over 30 years of experience in the maritime and energy industries.

The launch of Hanwha Horizon USA marks a significant milestone for Hanwha Aerospace as it seeks to build a global LNG value chain centered on the new entity. The company has built a stable supply base by signing an LNG purchase agreement with Venture Global, a leading U.S. LNG producer, and a memorandum of understanding with Korea Southern Power (KOSPO) to jointly strengthen LNG procurement and diversify supply sources.

Hanwha Aerospace plans to supply fuel to Hanwha Energy's Yeosu LNG power plant in Korea, which is scheduled to begin commercial operation in 2029. The company will then expand its supply to power producers and energy companies in Korea and other markets. Over the longer term, it aims to launch a full-scale LNG trading business in Asia and beyond.