With the development on floating LNG (FLNG) terminals happening on the country’s East coast, North India-based LNG marketing company VLNG is setting up its own FLNG terminal on the high seas between West Bengal and Odisha.

The company is investing $300m in setting up the units, which will cater to industrial users in Durgapur-Asansol in West Bengal, Jamshedpur in Jharkhand, and Angul-Talcher-Jharsuguda-Sundargarh in Odisha.

Large LNG marketing companies like GAIL, Petronet and VLNG will supply gas through its cryogenic containers, to be regasified by the customer itself.

However, initially, the company plans to start its LNG marketing by sourcing gas from Petronet LNG by the time its own terminal is ready by 2018. It also plans to source LNG from the terminals in Bangladesh or other large carriers.

VLNG will initially move the gas from its floating unit to land storages at Haldia and Odisha, which will cater to at least 10 fuel stations (similar to petrol pumps), located at consumption zones, by cryogenic containers.