Mumbai, Dec. 4 -- Both companies have signed a 15-year binding term sheet for ethane unloading, storage and handling services, with operations scheduled to begin between October and December 2028. Under the arrangement, ONGC will reserve about 600 KTPA capacity at Petronet's upcoming ethane facilities in Dahej, where the firm is building a 1.7-lakh cubic metre storage tank and a new multi-cargo jetty capable of handling ethane, propane and LNG.

Petronet expects to generate roughly Rs 5,000 crore in gross revenue over the contract period. The company described the deal as a major step toward expanding its portfolio beyond LNG by offering ethane import infrastructure to third parties and supporting India's petrochemical ecosystem.

ONGC, m...