Daewoo Shipbuilding and Marine Engineering (DSME) has lost a potential deal to build up to seven floating storage and regasification units (FSRUs) for US-based Excelerate Energy.

The two companies signed a letter of intent in February last year for 173,400-cbm LNG FSRUs with a baseload send-out capacity of 1 Bcf/d.

Daewoo said in a filing to the stock exchange on Tuesday that the letter of intent had expired.

The shipbuilder did not provide any additional information.