India's ONGC plans foray into ethane carrier business, seeks partner
India's Oil and Natural Gas Corp is seeking joint venture partners to build very large ethane carriers (VLECs) to ship feedstock for its petrochemical plant in western India, according to a document posted on the company's website.
ONGC Petro additions Ltd (OPaL), a unit of ONGC, operates a dual feed cracker. ONGC plans to source 800,000 tpy of ethane to secure feedstock for the plant from May 2028.
ONGC is seeking partnership with companies with experience in the operation and management of VLECs, very large gas carriers and liquefied natural gas carriers in the global market, it said.
The proposed joint ventures will secure local and foreign funding and select shipyards for construction of VLECs.
ONGC will be responsible for shipping of ethane and chartering of VLECs from the planned joint venture.
The last date for submission of interest is March 27.
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