Hanwha Aerospace establishes Hanwha Horizon USA for global LNG business

Hanwha Aerospace announced on the 25th that it had established Hanwha Horizon USA in the United States and would launch its global liquefied natural gas (LNG) business in earnest.

Hanwha Horizon USA will serve as the control tower for Hanwha Aerospace’s LNG business, handling procurement, trading, logistics optimization and other functions. Its CEO will be James Sagar, CEO of Hanwha Shipping, who has more than 30 years of experience in the maritime and energy sectors.

Hanwha Aerospace plans to build a competitive global business by establishing an LNG value chain spanning transportation, supply and power generation, centered on Hanwha Horizon USA. The company plans to supply fuel to Hanwha Energy’s Yeosu LNG power plant, which is scheduled to begin commercial operations in 2029, and expand LNG supplies to power generators and energy companies in Korea and abroad. In the medium to long term, it will also step up LNG trading in global markets, including Asia.

Hanwha Aerospace’s LNG business is also part of its efforts to contribute to Korea’s energy security and strengthen Korea-U.S. energy security cooperation amid rapidly shifting global conditions. A stable LNG supply chain is expected to enable integrated security partnerships with customer countries spanning energy and defense.

Hanwha Aerospace has established a stable supply base by signing an LNG purchase agreement with Venture Global, a leading U.S. LNG producer. It is also working to strengthen LNG procurement competitiveness and diversify supply chains through a memorandum of understanding with Korea Southern Power to form “Team Korea” to bolster global LNG cooperation. Recently, it secured an A- credit rating from global ratings agency S&P, further strengthening its financial position to expand its LNG business.