US-based Excelerate Energy has cancelled its plans to order for a $2bn floating liquefaction storage and offloading (FLNG) vessel from Samsung Heavy Industries.

The company said in a filing to the Seoul stock exchange that it cancelled the project due to changes in the Equatorial Guinea LNG production project, reports splash247.

"The company said that it cancelled the project due to changes in the Equatorial Guinea LNG production project."

In November 2014, the company signed a deal with South Korean shipbuilder to build the FLNG project off the coast of Equatorial Guinea.

Excelerate Energy has already completed the completed its front-end engineering design (FEED) for the three million tonne per annum (mtpa) FLNG vessel in 2010.

The company worked with Samsung Heavy Industries for hull design and integration, while Black & Veatch provided liquefaction technology.

Separately, Excelerate Energy also signed a deal in November 2014 with UK-based Ophir Energy as midstream partner for the FLNG project.

The FLNG project, named Fortuna FLNG, was planned to be located about 140km off the coast of Bioko Island, Equatorial Guinea.