India’s Oil and Natural Gas Corporation (ONGC) has partnered with Mitsui O.S.K. Lines (MOL), Japan’s leading shipping company and one of the largest in the world, to build, own, and operate two Very Large Ethane Carriers (VLECs).
The move is aimed at strengthening ONGC’s oil-to-chemicals strategy and ensuring long-term ethane supply for its subsidiary, ONGC Petro additions Ltd (OPaL).
The agreement was signed on July 3, 2025, but is still subject to approval by ONGC’s board, as stated in a filing to the stock exchanges. As per the plan, these two massive ethane carriers will be used to import ethane from international markets.
ONGC is planning to source 800,000 tonnes of ethane annually starting from May 2028. The imported ethane will be transported to OPaL’s facility in Dahej, Gujarat, which runs one of South-East Asia’s largest standalone dual-feed crackers.
The company stated that the new vessels will help provide a stable and
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