Hanwha Aerospace to launch US entity for LNG business

Korean defense company Hanwha Aerospace announced on Tuesday plans to launch a U.S. subsidiary focused on its liquefied natural gas (LNG) business. This new entity, called Hanwha Horizon USA, aims to bolster the firm's standing in the global energy supply chain.

Under the Hanwha Horizon USA umbrella, the firm will manage all aspects of its LNG operations, including procurement, sales, trading, and logistics. James Sagar, CEO of Hanwha Shipping, will serve as the head of Hanwha Horizon USA.

Initially, this U.S. entity will focus on securing LNG for Hanwha Energy's power plant in Yeosu, South Korea, which is set to begin operations in 2029. However, the company has plans to expand its supply network to other power plant operators and energy firms across Asia and beyond.

Hanwha Aerospace's decision to enter the LNG market aligns with Korea's broader strategy to enhance its energy security and foster energy cooperation with the United States. Sagar emphasized that the launch of Hanwha Horizon USA marks a significant step in connecting the company's global LNG procurement capabilities with its shipbuilding and maritime businesses.