Mumbai-based sources tell TradeWinds that New Jersey-based VGS Group and its partner Cavallo Group — which had set up a joint venture with Belgian shipowner Exmar — has called off its proposed 3.6 million tonnes per annum (mtpa) import project at Kakinada port.
The venture partners are now understood to be scouting for buyers to sell the rights to their proposed project, which would have involved the installation of a 175,000-cbm barge-based floating storage and regasification unit (FSRU).
Sources
