ONGC JV Seals Landmark Deal for Ethane Carriers with Samsung Heavy Industries

In a significant boost to India’s maritime and energy infrastructure, ONGC joint venture companies have finalized shipbuilding contracts with Samsung Heavy Industries for the construction of two Indian-flag Very Large Ethane Carriers (VLECs). These vessels will play a pivotal role in transporting ethane, a critical feedstock for petrochemical industries, thereby reinforcing India’s energy security and industrial growth.

Key Highlights

• Contract Signed: ONGC JV companies partnered with Samsung Heavy Industries for two advanced VLECs.
• Indian-Flag Vessels: The carriers will operate under the Indian flag, strengthening domestic shipping capabilities.
• Strategic Importance: Ethane is vital for petrochemical production, and these carriers will ensure reliable supply chains.
• Global Expertise: Samsung Heavy Industries brings world-class shipbuilding technology and experience to the project.
• Energy Security: The move aligns with India’s broader strategy to secure critical energy logistics and reduce dependency on external supply routes.

This milestone reflects ONGC’s commitment to innovation, infrastructure development, and global collaboration, positioning India as a stronger player in the energy and shipping sectors.

Sources: Reuters, Economic Times, Business Standard