Each joint venture company will own and operate one Very Large Ethane Carrier (VLEC) under the Indian flag, to transport ethane from the United States of America for meeting the feedstock requirements of ONGC Petro additions Limited (OPaL), a subsidiary of ONGC. The strategic collaboration combines MOL’s global maritime expertise with ONGC’s operational strengths, marking ONGC’s entry into specialised shipping and business diversification. The initiative aligns with the Prime Minister’s Maritime Amrit Kaal Vision 2047 and has been undertaken with the support of the Ministry of Petroleum and Natural Gas and the Department of Investment and Public Asset Management, Ministry of Finance.

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