Oil & Natural Gas Corporation Ltd.

Oil and Natural Gas Corporation (ONGC), through its joint venture companies with M/s Mitsui O.S.K. Lines (MOL), Japan, 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) on 27 January 2026. The fast-tracked conclusion of these SBCs reflects strong trilateral cooperation and industrial partnership among India, Japan and South Korea. 

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. By creating dedicated, Indian-flag ethane shipping capacity, ONGC is reinforcing national resilience against external disruptions, supporting continuity of operations across petrochemicals and downstream value chains that rely on stable, predictable input supplies.

ONGC is India’s largest government-run corporation and produces about 70% of India’s crude oil and natural gas. The corporation is the biggest public sector commercial organization in India.