Hanwha builds US LNG trading arm

According to a report by Splash 247, Hanwha Aerospace has established a new American subsidiary named Hanwha Horizon USA. This entity is designed to manage the conglomerate’s worldwide gas operations, combining the sourcing and trading of fuel with logistical management. The initiative aims to link the group’s energy procurement needs directly with its expanding shipbuilding and ocean transport capabilities. James Sagar, who currently serves as the chief executive of Hanwha Shipping, has been appointed to lead the new unit. The company intends to focus initially on providing fuel for a South Korean power station in Yeosu, which is expected to begin commercial activity in 2029. Following this internal supply phase, the firm plans to market gas to international utilities and energy providers across Asia and other global regions. The strategy builds upon recent maritime investments, including a previous purchase agreement with producer Venture Global and shipbuilding orders at the company’s Philadelphia facility. By coordinating these assets, the group seeks to control the entire supply cycle. Sagar described the formation of the new American business as a turning point connecting procurement skills with their "shipbuilding and maritime businesses."