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LNG carriers are berthed at a Venture Global LNG terminal in Louisiana, the U.S. / Hanwha Aerospace

Hanwha Aerospace has established a local subsidiary in the U.S. to oversee its liquefied natural gas (LNG) business. The company plans to secure an LNG procurement base centered in the U.S. and build a value chain spanning transportation, supply, and power generation.

On the 25th, Hanwha Aerospace announced that it has established "Hanwha Horizon USA" in the U.S.

Hanwha Horizon USA will serve as the control tower for Hanwha Aerospace's LNG business, taking charge of LNG procurement, trading, and logistics optimization. The representative post will be concurrently held by James Saghar, CEO of Hanwha Shipping, who has over 30 years of experience in the maritime and energy sectors.

Hanwha Aerospace plans to enhance the competitiveness of its LNG business centered on Hanwha Horizon USA. It will first supply fuel to Hanwha Energy's Yeosu LNG Power Plant, which begins commercial operations in 2029, and subsequently expand supply destinations to domestic and overseas power generation companies and energy firms. Over the mid-to-long term, it will also launch LNG trading operations in full swing across global markets, including Asia.

Earlier, Hanwha Aerospace secured a supply base in February by signing an LNG purchase agreement with U.S. LNG producer Venture Global. It also signed a memorandum of understanding with Korea Southern Power to "build Team Korea for strengthening global LNG cooperation," pursuing enhanced competitiveness in LNG procurement and diversification of its supply chain. Through a regular shareholders' meeting in March, the company officially formalized its entry into the LNG business by adding energy-related items to its business objectives.

The company plans to utilize its LNG business to enhance energy security and strengthen cooperation between South Korea and the U.S. By securing a stable LNG supply chain, it aims to broaden energy cooperation while also exploring potential linkages with its existing defense business.

A financial foundation for business expansion has also been established. Hanwha Aerospace recently obtained an "A-" credit rating from global credit rating agency Standard & Poor's (S&P).

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

                                                                                                           Kim Han-seul