ONGC seeks JV partners to build ethane carriers for petrochemical plant
Mumbai: India’s Oil and Natural Gas Corporation (ONGC) is seeking joint venture partners to develop very large ethane carriers (VLECs) for transporting feedstock to its petrochemical plant in western India, according to a document published on its website, Reuters reported.
ONGC Petro additions Ltd (OPaL), a subsidiary of ONGC, operates a dual-feed cracker and plans to source 800,000 tons per year (tpy) of ethane starting in May 2028 to ensure a stable feedstock supply for the facility.
The company is looking to collaborate with firms that have expertise in operating and managing VLECs, very large gas carriers, and liquefied natural gas (LNG) carriers globally.
The planned joint ventures will focus on securing both domestic and international funding and selecting shipyards for the construction of VLECs.
ONGC will oversee the ethane shipping operations and manage the chartering of VLECs through the proposed joint venture.
The deadline for submitting expressions of interest is March 27.
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