LNG carriers are docked at Venture Global's LNG terminal in Louisiana. [Hanwha]
LNG carriers are docked at Venture Global's LNG terminal in Louisiana. [Hanwha]

Hanwha Aerospace announced Tuesday it will establish Hanwha Horizon USA, a US-based corporate entity to serve as the control tower for its liquefied natural gas business, as South Korea and the United States deepen energy cooperation and Hanwha moves to anchor a robust LNG supply chain.

Hanwha Aerospace plans to build a global LNG value chain spanning transportation, supply and power generation around Hanwha Horizon USA. The new entity will oversee the company's entire LNG operations — supplying fuel to Hanwha Energy's Yeosu LNG power plant, which is set to begin commercial operations in 2029, and providing LNG to domestic and overseas clients. Over the medium to long term, Hanwha Horizon USA will also move into full-scale LNG trading across Asia and other global markets.

James Sagar, CEO of Hanwha Shipping, who has spent more than 30 years in the maritime and energy sectors, will concurrently serve as representative of Hanwha Horizon USA.

Hanwha Aerospace aims to contribute to South Korea-US energy security cooperation by serving as a stable LNG supply chain partner. The company has built its competitive position through a series of moves: signing an LNG purchase agreement with US LNG producer Venture Global and concluding an MOU with Korea Southern Power to diversify its LNG supply chain. It also recently secured a credit rating of A- from S&P Global Ratings, strengthening its financial footing for further LNG business expansion.

"The establishment of Hanwha Horizon USA is an important turning point that connects our global LNG procurement capabilities with our shipbuilding and maritime business competitiveness," a Hanwha Aerospace official said. "We will build a stable LNG supply chain that can respond flexibly to market changes and continue to expand a differentiated LNG value chain in the global energy market."


klee@heraldcorp.com