Hanwha Aerospace said on the 15th in Tokyo that it held a ceremony to sign a long-term LNG purchase agreement with U.S. liquefied natural gas (LNG) producer Venture Global.
The ceremony was attended by Hanwha Aerospace chief executive Son Jae-il and Venture Global chief executive Michael Sabel, as well as Minister Kim Jung-kwan of the Ministry of Trade, Industry and Resources and U.S. Interior Secretary Doug Burgum, among other senior government officials from both countries.
On the 14th and 15th in Tokyo, the United States hosted the Indo-Pacific Energy Security Ministers and Business Forum (IPEM), inviting 12 countries from the Indo-Pacific region, including Korea.
Earlier, Hanwha Aerospace signed a contract last month with Venture Global to receive 1.5 million tons of LNG annually for 20 years starting in 2030, and the forum served as the occasion for the signing ceremony.
Son Jae-il said, "This energy cooperation will once again serve as an opportunity to demonstrate the strong partnership between the United States and Korea for strengthening energy security," adding, "Based on our capabilities in energy and defense, we will fulfill our role as a global security partner."