Oil and Natural Gas Corporation Limited (ONGC) and Mitsui O.S.K lines Ltd, Japan (MOL) have signed a Heads of Agreement on 3rd July 2025 to enter into a partnership to build, own and operate two Very Large Ethane Carriers (VLECs). The VLECs shall be shipping imported ethane to ONGC Petro Additions Limited (OPaL), a subsidiary of ONGC, for captive use as feedstock. This arrangement is subject to Board approval and further details shall be shared after signing of partnership agreement.