ONGC Inks Deal with MOL to Build Two Very Large Ethane Carriers

India's Oil and Natural Gas Corporation (ONGC) has signed an agreement with Japan's Mitsui O.S.K. Lines (MOL) to build, own and operate two very large ethane carriers (VLECs).

The ‘mega vessels’ will deliver imported ethane to ONGC Petro Additions Limited, a unit of ONGC, ensuring a steady, self-reliant supply of feedstock for cutting-edge petrochemical production.

“This global partnership marks a bold step in ONGC’s downstream expansion, combining innovation, scale, and energy security like never before.

“This isn’t just a collaboration. It’s ONGC charting the course for the next era of energy,” ONGC said.

No additional details have been disclosed by the companies.