For the blanketing system to be an affective method of emission control, the pressure of the blanket gas needs to be substantially higher than the vapor pressure of the liquid product in the tank. In large storage tanks, typical of what you would see in a fuel storage facility or pipeline breakout station, the vapor pressure of the product is higher than the tank design pressure. The maximum composition of the vapor in the tank will be approximately the concentration predicted by Raoult's Law where the blanket pressure is P and the vapor pressure of the liquid product is Pa.
For instance if the blanket pressure is 20 and the vapor pressure of the liquid product is 6, the maximum concentration of the vapor space will be approximately 6/20 or 30%. The units on the pressure do not matter as long as they are the same. If you can get the blanket pressure high enough not to exceed the design pressure of the tank and that pressure is sufficiently high to reduce the maximum vapor concentration allowed by air pollution regulations, then blanketing may be an option.
As far as relative costs of VRU vs. blanketing, there is no way to answer than without knowing the product, product cost, blanketing gas, blanketing gas cost, vapor flow rates, tank design pressures, etc. That would require more work than this free forum allows.
jwysmooth