GAIL is looking to import ethane from the US, and, it has issued an expression of interest (EOI) for chartering a very large ethane carrier (VLEC) for 20 years, with an option to extend it for another five years. GAIL intends to use the same vessel for co-transporting ethane and LNG in different compartments.
GAIL is following in the footsteps of another big name in Indian energy, Reliance Industries, which has been importing US ethane for the past nine years. Reliance now has a fleet of six VLECs which it co-owns with Mitsui OSK Lines (MOL).
India’s ethane imports crossed the 2m tonne mark last year. The attractive economics favouring ethane is expected to lure more operators towards the commodity, in turn increasing the demand for VLECs.
Tags: Ethane carrier, GAIL, LNG, US, VLEC
Recent Posts
Fossil fuel capacity grows 2.44% in FY24
COSCO launches fully-electric 10,000 ton container ship service
Bergen Engines to power world’s largest hydrogen ferries
GCMD announces appointment of 2 key positions
Marathon refinery aims for 100% production capacity
Japan energy policies for increased zero-carbon power generation
Chapman Freeborn OBC to reduce carbon emissions
OTG develops programme on ammonia fuel safety