Hanwha Ocean has signed a strategic Memorandum of Understanding (MOU) with Fermeuse Energy to advance the Newfoundland and Labrador LNG development project in Canada.
The partnership strengthens Hanwha’s long-term commitment to Canada. It also aligns with the company’s role in the Canadian Patrol Submarine Project (CPSP) and Canada’s Arctic and multi-ocean strategy.
Under the agreement, Hanwha Ocean becomes a long-term strategic partner to Fermeuse Energy. The company will support project development, engineering, financing, shipbuilding, and LNG logistics across the full value chain. The partners aim to deliver a reliable and sustainable LNG supply that supports global energy security and the energy transition.
Hanwha will contribute its integrated global capabilities, including conceptual studies and pre-FEED engineering. The project follows Hanwha’s CPSP framework, which focuses on end-to-end delivery across design, construction, financing, and long-term support.
The MOU also establishes a joint governance and execution structure. This will support technical progress, commercialization, and long-term operations.
The partnership links Hanwha’s LNG activities with Canada’s CPSP Industrial and Technological Benefits framework. Hanwha is already active in the CPSP and supports Canada’s Arctic and multi-ocean defense strategy. Its submarine proposal includes local sustainment, training, and supply chain development in Canada.
“Hanwha is approaching Fermeuse Energy not as a service provider, but as a trusted partner committed from concept through execution and commercialization,” said Sung-chul Eo, President of Hanwha Ocean’s Naval Ship Division. “By combining our global capabilities with the Hanwha Group portfolio and support from the Korean government, we will help realize Newfoundland and Labrador’s LNG potential.”
Fermeuse Energy CEO Swapan Kataria said Hanwha’s energy and maritime expertise will help advance the project. He added that the MOU marks a key step toward global cooperation and commercial success.
Hanwha operates in more than 50 countries across energy, shipbuilding, aerospace, defense, and infrastructure. Fermeuse Energy is a Canadian LNG developer focused on exporting Newfoundland and Labrador’s natural gas while supporting regional growth.
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