Japanese Shipping Giant Mitsui Partners with ONGC for Ethane Transport
Mitsui O.S.K. Lines is collaborating with ONGC to operate two large ethane carriers to import petrochemical feedstock. These vessels, likely incorporating a majority ownership by Mitsui, are part of ONGC's plan to secure ethane imports for its Petro Additions Ltd’s Dahej facility, starting mid-2028.
- Country:
- India
The Japanese shipping corporation Mitsui O.S.K. Lines is set to manage two large ethane carriers for India's Oil and Natural Gas Corporation (ONGC), targeting the import of petrochemical feedstock for ONGC's subsidiary, according to informed sources.
A joint venture between the two firms is forming to construct and operate these vessels. Mitsui is expected to hold the majority stake in these ships, which are slated for construction at Korean shipyards, contingent on ONGC's financial commitment, sources report.
The two ethane carriers, costing around USD 370 million collectively, aim to deliver feedstock to ONGC Petro Additions Ltd's facility in Dahej by mid-2028. This move responds to upcoming changes in the LNG supply contract with Qatar, necessitating alternative sourcing of ethane and propane.
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