ONGC JV inks deal with Samsung for two Indian-flag ethane carriers

• ONGC, through its joint ventures with Japan’s Mitsui O.S.K. Lines Ltd (MOL), signed contracts with Samsung Heavy Industries, South Korea, for two Very Large Ethane Carriers (VLECs).
• This collaboration strengthens India’s energy ecosystem by securing specialized marine logistics for critical feedstock, enhancing supply chain resilience, and promoting industrial self-reliance.
• The Indian-flag VLECs will ensure continuity of operations for petrochemicals and downstream value chains dependent on stable ethane supplies.
• ONGC and MOL established two JVs, Bharat Ethane One IFSC Private Ltd and Bharat Ethane Two IFSC Private Ltd, in GIFT City, Gujarat, each owning one VLEC.
• Each VLEC will have a cargo capacity of 100,000 cubic meters and transport about 600 KTPA of ethane for OPaL; deliveries are expected in FY 2028–29.

Why It Matters: ONGC's JV with MOL secured two VLECs from Samsung, boosting India's energy security and supply chain.