ONGC Enters Ethane Shipping through Joint Venture with MOL, Japan Oil and Natural Gas Corporation Limited signed Joint Venture Agreements and Capital Contribution Agreements with M/s Mitsui O.S.K. Lines Ltd. (MOL), Japan, on 5 January 2026, to subscribe equity shares in two joint venture entities, namely Bharat Ethane One IFSC Private Limited and Bharat Ethane Two IFSC Private Limited, registered in Gift City, Gandhinagar. The Maharatna shall subscribe to 2,00,000 equity shares, of Rs 100 per share, in each of the joint venture companies. Upon completion of the equity subscription, ONGC shall hold a 50% equity stake in each of the joint venture entities, with the remaining 50% held by M/s Mitsui O.S.K. Lines Ltd., Japan Each joint venture company shall own and operate one Very Large Ethane Carrier (VLEC). The VLECs shall operate under the Indian flag and shall be deployed for the transportation of ethane from the United States of America to meet the feedstock requirements of ONGC Petro additions Limited (OPaL), a subsidiary of ONGC

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