ONGC Partners with MOL to Build VLECs for Ethane Transport

India’s Oil and Natural Gas Corporation (ONGC) has recently made a significant move in its downstream expansion by signing an agreement with Japan’s Mitsui O.S.K. Lines (MOL) to construct, own, and operate two very large ethane carriers (VLECs). These ‘mega vessels’ are set to play a crucial role in delivering imported ethane to ONGC Petro Additions Limited, a subsidiary of ONGC, ensuring a continuous and self-reliant supply of feedstock for advanced petrochemical production.

By partnering with MOL, ONGC is not only securing a strategic alliance but also paving the way for innovation, scalability, and energy security in its operations. This collaboration signifies a bold step towards shaping the future of energy in India and beyond.

While the specifics of the agreement have not been publicly disclosed by the companies involved, the joint venture is expected to bring about transformative changes in the petrochemical industry and strengthen ONGC’s position as a leading player in the energy sector.

With a focus on sustainability, efficiency, and reliability, the partnership between ONGC and MOL exemplifies a shared commitment to driving progress and meeting the evolving needs of the market.

As ONGC continues to expand its footprint and enhance its capabilities in the energy space, the collaboration with MOL for the construction of VLECs underscores the company’s strategic vision and determination to shape a sustainable future for the industry.