Hanwha Aerospace to launch U.S. entity for LNG business
The US entity will initially secure LNG for Hanwha Energy Co.'s LNG power plant in the southern South Korean city of Yeosu, scheduled to come online in 2029,…
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Summary
The US entity will initially secure LNG for Hanwha Energy Co.'s LNG power plant in the southern South Korean city of Yeosu, scheduled to come online in 2029, the company said. Liquefied natural gas (LNG) carriers are anchored at Venture Global's LNG terminal in Louisiana, the United States. (Hanwha Aerospace) South Korean defense firm Hanwha Aerospace Co. said Tuesday it will establish a US entity dedicated to its liquefied natural gas (LNG) business as part of its effort to strengthen its presence in the global energy supply chain. "We will build a stable LNG supply chain that can respond flexibly to market changes and continue to grow a distinctive LNG value chain in the global energy market." Hanwha Aerospace has already taken steps to secure LNG supplies by signing a purchase agreement with Venture Global, a major US LNG producer.
Furthermore, 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 launch of Hanwha Horizon USA is a turning point that connects our global LNG procurement capabilities with our shipbuilding and maritime businesses," Sagar said in a release.
In addition, The company has also signed a memorandum of understanding with state-run Korea Southern Power Co. to jointly strengthen LNG procurement and diversify supply sources.
Cross-referenced from 2 sources.
Factual coreconfirmed by several independent voices
The US entity will initially secure LNG for Hanwha Energy Co.'s LNG power plant in the southern South Korean city of Yeosu, scheduled to come online in 2029, the company said.
reliability low1/2 sourcesLiquefied natural gas (LNG) carriers are anchored at Venture Global's LNG terminal in Louisiana, the United States. (Hanwha Aerospace) South Korean defense firm Hanwha Aerospace Co. said Tuesday it will establish a US entity dedicated to its liquefied natural gas (LNG) business as part of its effort to strengthen its presence in the global energy supply chain.
reliability low1/2 sources"We will build a stable LNG supply chain that can respond flexibly to market changes and continue to grow a distinctive LNG value chain in the global energy market." Hanwha Aerospace has already taken steps to secure LNG supplies by signing a purchase agreement with Venture Global, a major US LNG producer.
reliability low1/2 sourcesHanwha 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.
reliability low1/2 sourcesHanwha Shipping CEO James Sagar will also head Hanwha Horizon USA.
reliability low1/2 sources"The launch of Hanwha Horizon USA is a turning point that connects our global LNG procurement capabilities with our shipbuilding and maritime businesses," Sagar said in a release.
reliability low1/2 sourcesThe company has also signed a memorandum of understanding with state-run Korea Southern Power Co. to jointly strengthen LNG procurement and diversify supply sources.
reliability low1/2 sources
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