Excelerate Abandons Potential FSRU Order at DSME

South Korean Daewoo Shipbuilding and Marine Engineering (DSME) has lost the contract for up to seven floating storage and regasification units (FSRUs) from US-based Excelerate Energy.

Following a Letter of Intent (LOI), which the parties signed in February 2017, the shipbuilder informed that the deal expired on May 8 without any contracts being agreed.

The potential shipbuilding order was for 173,400 m3 capacity units with a baseload send-out capacity of 1 Bcf/d.

Excelerate earlier said that the agreement was to provide the company with the ability “to respond to increasing market demand for natural gas”.

DSME, Excelerate Energy LOI signing ceremony
Image Courtesy: Excelerate Energy

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