South Koreans join in Canadian LNG project

January 20, 2026, by Nadja Skopljak

South Korea’s Hanwha Group has entered into a strategic memorandum of understanding (MoU) with Canadian firm Fermeuse Energy to jointly advance the Newfoundland and Labrador liquefied natural gas (LNG) development project in Canada.

As part of the partnership, Hanwha will be a long-term strategic partner to Fermeuse Energy, supporting the project’s development, engineering, financing, shipbuilding, and LNG logistics across the full LNG value chain, and will contribute its integrated global capabilities to the project, including conceptual studies and pre-FEED engineering.

The partnership framework is said to provide for the establishment of structured governance and joint execution planning, ensuring that Hanwha’s participation enables technical progress, commercialization and long-term operational success.

The South Korean company also said that the collaboration is aligned with its broader participation in Canada’s defense and industrial landscape, with the group being actively engaged in the Canadian Patrol Submarine Project (CPSP), supporting Canada’s Arctic and multi-ocean defense strategy.

“Hanwha is approaching Fermeuse Energy not merely as a service provider, but as a trusted partner committed to supporting the project from concept through execution and commercialization,” said Sung-chul Eo, President of Hanwha Ocean’s Naval Ship Division.

“By leveraging the combined capabilities of Hanwha Ocean and the broader Hanwha Group portfolio, together with the support of the Korean government, we will contribute meaningfully to the successful realization of Newfoundland and Labrador’s LNG potential.”

Fermeuse Energy announced in September 2025 the plans to spearhead the development of an LNG export project at its supply base in Newfoundland and Labrador. Advanced LNG technology, as the Canadian player says, will be deployed to help unlock 9.7 trillion cubic feet (tcf) of offshore associated gas reserves, which the Jeanne d’Arc Basin is estimated to hold.