US major LNG plant developer, Venture Global has signed a sales and purchase agreement with South Korea’s Hanwha Aerospace, in which the latter will secure 1.5 mill tonnes per annum of LNG for 20 years, starting in 2030.
This agreement brings Venture Global’s long-term contracted portfolio to over 46 mill tonnes per annum, the company claimed.
“Venture Global is thrilled to announce our first long-term supply deal in (South) Korea through a new partnership with Hanwha Aerospace which marks another important step in expanding reliable, long-term LNG supply to our partners in Asia,” said Mike Sabel, Venture Global CEO.
“We are proud to support growing global energy needs with low-cost, secure American LNG while strengthening the strategic energy partnership between the United States and South Korea to support long-term industrial and economic growth,” he said.
Hanwha Aerospace said it would supply the LNG to global demand centers, including in Europe and Asia.
This SPA amounts to 4.4% of South Korea's annual LNG consumption of 34.12 mill tonnes as of 2024, South Korean media said.
This agreement is part of the South Korean company’s strategy to build a global LNG value chain by involving other Hanwha group affiliates.
For example, Hanwha Ocean will handle the marine infrastructure, including LNGCs and FLNGs, and Hanwha Energy will be responsible for LNG power generation and operations. In addition, Hanwha Shipping will conduct the maritime transport operation.
Hanwha Aerospace said it planned to build long-term security co-operation with targeted countries through its LNG business, while shipbuilder Hanwha Ocean is also expected to win more orders as demand for LNGCs rises.
A company official told local media, "The defence, shipbuilding, and energy industries are core elements of (South Korea’s) national security. We will contribute to global security through eco-friendly energy solutions that encompass everything from energy production to distribution and utilisation."
In 2024, Hanwha Aerospace invested about Won180 bill in US LNG developer NextDecade, and in 2025, Hanwha Energy signed a memorandum of understanding (MoU) with Korea Southern Power to expand its global LNG supply chain. (February 27, 2026, Source: https://lngjournal.com/index.php/latest-news-mainmenu-47/item/115686-hanwha-aerospace-to-buy-venture-global-lng)
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