US-listed Excelerate Energy remains on track to start up a new floating storage and regasification unit-based terminal for Finland and its Baltic neighbours in the fourth quarter of 2022 as European gas buyers fast-track their facilities in advance of the winter and energy supply concerns.

Announcing second-quarter results as the US market closed on Wednesday, Excelerate said project developer Gasgrid Finland has started the development of a new jetty in southern Finland near the Balticconnector pipeline where Excelerate’s 150,900-cbm FSRU Exemplar (built 2010) will be moored.