Hanwha Aerospace said Tuesday it will set up a U.S. entity for its LNG business to strengthen its presence in the global energy supply chain. Hanwha Horizon USA will oversee procurement, sales and trading, and logistics, and James Sagar will head the entity. The new unit will first secure LNG for Hanwha Energy’s power plant in Yeosu, set to begin operations in 2029. The company also plans to expand LNG supply and trading across Asia and other global markets.
Liquefied natural gas (LNG) carriers are anchored at Venture Global's LNG terminal in Louisiana, the United States in this photo provided by Hanwha Aerospace on Tuesday. Courtesy of Hanwha Aerospace
Korean defense firm Hanwha Aerospace said Tuesday it will establish a U.S. entity dedicated to its liquefied natural gas (LNG) business as part of its effort to strengthen its presence in the global energy supply chain.
Hanwha Horizon USA will serve as a control tower for the company's LNG operations, overseeing areas ranging from procurement to sales and trading to logistics. Hanwha Shipping CEO James Sagar will also head Hanwha Horizon USA.
The U.S. entity will initially secure LNG for Hanwha Energy's LNG power plant in the southern Korean city of Yeosu, scheduled to come online in 2029, the company said.
