ONGC signs Heads of Agreement with Mitsui O.S.K lines, Japan
The VLECs shall be shipping imported ethane to ONGC Petro Additions for captive use as feedstock
Oil and Natural Gas Corporation (ONGC) and Mitsui O.S.K lines, Japan (MOL) have signed a Heads of Agreement on July 3, 2025 to enter into a partnership to build, own and operate two Very Large Ethane Carriers (VLECs). The VLECs shall be shipping imported ethane to ONGC Petro Additions (OPaL), a subsidiary of ONGC, for captive use as feedstock. This arrangement is subject to Board approval.
ONGC is India’s largest government-run corporation and produces about 70% of India’s crude oil and natural gas. The corporation is the biggest public sector commercial organization in India.
