Oil and Natural Gas Corporation has said it held high-level discussions with Japan’s Mitsui OSK Lines to deepen cooperation in maritime logistics and energy transportation.
The meeting took place at ONGC headquarters in New Delhi between ONGC Chairman Arun Kumar Singh and MOL Chairman Takeshi Hashimoto. According to ONGC’s post on X, both sides focused on expanding strategic ties and shaping the future of global energy movement through shipping and logistics.
Focus on stronger energy supply chains
The discussions centred on building more resilient supply chains and improving efficiency in energy transport systems. Both companies also explored ways to create new operational synergies in a rapidly changing global energy environment, particularly in long-distance fuel transportation.
Progress on ethane shipping ventures
The two sides also reviewed progress on their joint ventures, Bharat Ethane One IFSC Ltd and Bharat Ethane Two IFSC Ltd. These companies were formed earlier this year, with ONGC holding a 50 percent stake in each after acquiring its share through private placement, making it an equal partner with MOL.
Each joint venture will own a Very Large Ethane Carrier designed to transport ethane for ONGC Petro additions Ltd, ONGC’s subsidiary operating the petrochemical complex at Dahej in Gujarat.
Long-term shipping arrangement
Under a 15-year charter agreement signed during India Energy Week 2026, MOL will build and operate two large ethane carriers of 100,000 cubic metres each. The vessels, being constructed by Samsung Heavy Industries, are expected to be delivered by late 2028 or later.
Once operational, these carriers will transport liquefied ethane from the United States to India, supplying raw material for OPaL’s petrochemical operations in Dahej.
Expanding global fleet capacity
MOL also noted that this partnership will expand its Very Large Ethane Carrier fleet to 16 vessels, making it one of the largest such fleets globally. The collaboration reflects growing India-Japan cooperation in energy logistics and long-term industrial supply chains.
