Venture Global signs first long-term LNG supply deal with Korea

Venture Global Inc. signed a long-term LNG agreement with Hanwha Aerospace Co. Ltd., an affiliate of the Hanwha Group.

Venture Global will supply 1.5 million tonnes/year (tpy) of US LNG for 20 years starting in 2030.

The deal marks Venture Global’s first long-term supply deal in Korea and brings Venture Global’s long-term contracted portfolio to over 46 million tpy.

Hanwha Aerospace is primarily focused on aerospace and defense, with expanding operations into energy and industrial infrastructure. The company is building an LNG value chain in collaboration with other Hanwha Group affiliates to enhance energy security and advance the effectiveness of clean energy solutions globally, according to the release from Venture Global.