MOL deepens India footprint with two ethane shipping JVs with ONGC
- MOL and ONGC will each subscribe to 200,000 equity shares in each JV
- Each JV will operate one Indian-flagged VLEC to transport US ethane into India
- ONGC is looking to provide more ethane for its petrochemical subsidiary
Tight margins at Asian petrochemical players could support ethane use, raising VLEC demand. But this comes with challenges
