Hanwha Aerospace Establishes U.S. LNG Subsidiary, Embarks on Global Market Expansion

LNG Procurement and Trading Control Tower
Supplying Hanwha Energy's Yeosu Power Plant in 2029
Building a Value Chain from Transportation to Supply and Power Generation

Hanwha Aerospace has established a liquefied natural gas (LNG) business entity in the United States and is embarking on an expansion into the global LNG market.

LNG carriers are docked at the LNG terminal of Venture Global located in Louisiana, USA. Hanwha Aerospace

Hanwha Aerospace announced on the 25th that it has established "Hanwha Horizon USA" in the United States to pursue a full-fledged global LNG business.

Hanwha Horizon USA will serve as the control tower of Hanwha Aerospace's LNG operations, overseeing LNG procurement, trading, logistics optimization, and more. The company will be led by James Sagar, CEO of Hanwha Ocean, who has over 30 years of experience in the marine and energy sectors.

Hanwha Aerospace's strategy is to strengthen its global business competitiveness by establishing a value chain—from LNG transportation to supply and power generation—centered on Hanwha Horizon USA.

Hanwha Horizon USA plans to supply fuel to Hanwha Energy's Yeosu LNG power plant, which is scheduled to begin commercial operations in 2029. The company will subsequently expand LNG supply to power generation and energy companies, both domestically and internationally, and aims to formalize LNG trading operations in the global market, including in Asia, in the mid- to long-term.

Through its LNG business, Hanwha Aerospace also intends to contribute to Korea's energy security and strengthen energy cooperation between Korea and the United States. The company expects that a stable LNG supply network will enable it to build collaborative relationships with customer countries in both the energy and defense sectors.

Previously, Hanwha Aerospace secured its LNG supply foundation by signing a purchase contract with US-based LNG producer Venture Global. The company has also entered into a financial business agreement with Korea South-East Power Co. to form "Team KOREA" for strengthening global LNG cooperation, aiming to enhance LNG procurement competitiveness and diversify its supply chain.

Recently, Hanwha Aerospace secured a solid financial foundation for its LNG business expansion by obtaining an "A-" credit rating from global rating agency Standard & Poor's (S&P).

A Hanwha Aerospace representative stated, "The establishment of Hanwha Horizon USA is an important turning point that integrates global LNG procurement capabilities with competitiveness in shipbuilding and marine businesses. We will continue to build a stable LNG supply network and expand a differentiated LNG value chain in the global energy market."

This content was produced with the assistance of AI translation services.