Reliance to Source Ethane from US

India's Reliance Industries Ltd said it will source 1.5 million metric tons of ethane a year from the United States as feedstock for its crackers in India.

The company has executed storage and capacity agreements for liquefaction and export of ethane with a North American terminal, which is expected to commence operations in the second half of 2016, the company said in a statement on Monday.

Reliance also said it has placed orders for six very large carriers to transport the liquefied ethane to India and is building storage facilities and pipelines to deliver ethane to its crackers.

(Reporting by Aman Shah in Mumbai, editing by David Evans)