Joint Venture27 Jan 2026, 06:41 pm
ONGC, MOL Japan and Samsung Heavy Industries sign shipbuilding contracts for two Indian-flag Very Large Ethane Carriers
AI Summary
Oil and Natural Gas Corporation Ltd (ONGC) has entered into Ship Building Contracts (SBCs) with M/s Samsung Heavy Industries, South Korea, for the construction of two state-of-the-art Very Large Ethane Carriers (VLECs). The contracts were signed in the presence of Hardeep Singh Puri, Hon’ble Minister of Petroleum & Natural Gas, Dr. Neeraj Mittal, IAS, Secretary (MoPNG), and Mr. Arun Kumar Singh, Chairman & CEO, ONGC. This initiative is a strategic step toward strengthening India’s energy ecosystem by securing specialized marine logistics for critical feedstock, improving supply-chain resilience, and enabling long-term industrial self-reliance.
Key Highlights
- ONGC, MOL Japan and Samsung Heavy Industries have signed shipbuilding contracts for two Indian-flag Very Large Ethane Carriers.
- The contracts were signed in the presence of Hardeep Singh Puri, Hon’ble Minister of Petroleum & Natural Gas, Dr. Neeraj Mittal, IAS, Secretary (MoPNG), and Mr. Arun Kumar Singh, Chairman & CEO, ONGC.
- This initiative is a strategic step toward strengthening India’s energy ecosystem by securing specialized marine logistics for critical feedstock.
- The contracts reflect strong trilateral cooperation and industrial partnership among India, Japan and South Korea.
- The VLECs will support the transportation of about 600 KTPA of ethane for OPaL, a subsidiary of ONGC.