Venture Global, Inc. (NYSE: VG) entered into a 20‑year sales and purchase agreement with Korea’s Hanwha Aerospace for 1.5 million tonnes per annum of U.S. liquefied natural gas (LNG) beginning in 2030. The contract brings VG’s long‑term contracted portfolio to more than 46 MTPA, adding a significant new revenue stream that will be delivered over the next two decades.
The agreement marks VG’s first long‑term partnership with a Korean entity and expands the company’s presence in the rapidly growing Asian LNG market. Hanwha Aerospace plans to distribute the LNG to customers in Europe and Asia, and the 1.5 MTPA represents approximately 4.4% of South Korea’s annual LNG consumption. By securing a steady supply contract with a major Korean aerospace company, VG strengthens its strategic position in Asia and enhances its ability to meet growing demand for low‑cost U.S. LNG.
"Venture Global is thrilled to announce our first long‑term supply deal in 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. 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," said Mike Sabel, CEO of Venture Global.
Hanwha Aerospace, part of the larger Hanwha Group, is building an integrated LNG value chain that includes shipbuilding, energy generation, and maritime transport. "The defense, shipbuilding, and energy industries are core elements of national security," the company added, "We will contribute to global security through eco‑friendly energy solutions that encompass everything from energy production to distribution and utilization."
The deal aligns with broader geopolitical trends of energy security and diversification, as European and Asian markets seek to reduce reliance on Russian gas. For Hanwha, the partnership secures a reliable source of LNG for its future operations and distribution network, while for Venture Global it provides a predictable cash‑flow stream that supports the company’s growth strategy across its Gulf Coast LNG portfolio.
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