ONGC, India's largest crude oil and natural gas producer, contributing 71% of domestic output, has partnered with Japan's Mitsui O.S.K Lines Ltd (MOL). A Heads of Agreement was signed on July 3, 2025, to form JV for two Very Large Ethane Carriers (VLECs). These will transport imported ethane to ONGC's subsidiary, OPaL, for captive use. The collaboration awaits Board approval.