ONGC Partners with Mitsui for $370M Ethane Carrier Venture

C has signed a joint venture with Japan’s Mitsui O.S.K. Lines to construct and operate two Very Large Ethane Carriers (VLECs) at a cost of $370 million. The vessels will transport 800,000 tonnes of ethane annually to ONGC Petro Additions Ltd (OPaL) in Dahej starting May 2028. ONGC will hold a minimum 26% stake in the JV, with an option to increase to 50%.