Fermeuse LNG Receives Boost in MOU with South Korea’s Hanwha Industrial Conglomerate

Fermeuse LNG Receives Boost in MOU with South Korea’s Hanwha Industrial Conglomerate

Fermeuse LNG Receives Boost in MOU with South Korea’s Hanwha Industrial Conglomerate
January 29, 2026
Reading time: 6 minutes

Full Story: The Energy Mix - Mitchell Beer




Linda Cutler Kenny/Facebook

A proposed $15-billion liquefied natural gas development off the coast of Newfoundland has received a major boost, after St. John’s-based Fermeuse Energy signed a memorandum of understanding (MOU) to advance the project with Hanwha Group, an industrial conglomerate based in Seoul, South Korea.

The deal “establishes Hanwha as 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,” Fermeuse Energy (FEL) said in a Jan. 19 release.

Hanwha is also bidding on a multi-billion-dollar contract to build a new fleet of ice-capable patrol submarines for the Canadian military. FEL said the LNG project is “consistent” with the industrial partnerships Hanwha is offering as part of its bid.

“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,” Sung-chul Eo, president of Hanwha Ocean’s Naval Ship Division, said in the release. “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.”