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New Indian outfit signs up for 4 MMTA of US LNG
Jan 25: In an interesting development, Vessel Gasification Solutions (VGS), has announced a non-binding HOA which provides for a 20-year Free-on-Board (FOB) Sale and Purchase Agreement (SPA) of up to 4 million metric tonnes per annum (mtpa) from the Magnolia US terminal.
8The VGS Group is developing a floating LNG import and regasification terminal situated offshore at Kakinada Deepwater Port in Andhra Pradesh, India.
8The Kakinada based Krishna Godavari LNG Import Terminal will be East Coast India’s first LNG import project to become operational, and it will allow for the full utilization of close to 7,000 MW of near-idled power plants
8The Group plans to lay the groundwork for an industrial renaissance in the industrial belt that girds the coastal region of Andhra Pradesh and Orissa.
8VGS has targeted being the ‘First Mover on a Fast Track’ in India’s heavily industrialized, yet gas starved, Andhra Pradesh-Orissa coastal region.
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