Joint Venture22 Jan 2026, 05:11 pm
ONGC Invests in Two Joint Venture Companies for Ethane Transportation
AI Summary
Oil and Natural Gas Corporation Ltd (ONGC) has invested in two joint venture companies, Bharat Ethane One IFSC Private Limited and Bharat Ethane Two IFSC Private Limited, in partnership with M/s Mitsui O.S.K. Lines Ltd (MOL). The joint ventures will own and operate Very Large Ethane Carriers (VLECs) under the Indian flag 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.
Key Highlights
- ONGC has invested in two joint venture companies, Bharat Ethane One IFSC Private Limited and Bharat Ethane Two IFSC Private Limited, in partnership with M/s Mitsui O.S.K. Lines Ltd (MOL).
- The joint ventures will own and operate Very Large Ethane Carriers (VLECs) under the Indian flag for the transportation of ethane.
- The ethane will be transported from the United States of America to meet the feedstock requirements of ONGC Petro additions Limited (OPaL), a subsidiary of ONGC.
- The investment is a 50:50 shareholding in both companies.
- The companies were incorporated in September 2025 and have not entered into any business activity yet.