MoU on green methanol production 

Riga City Council has signed a memorandum of understanding (MoU) with South Korean-based EcoMethanol Ltd, and local company SIA AE Solutions for the development of a green methanol plant at the port of Riga. The aim is to produce low carbon bunker fuel for maritime transport and to establish a green fuel delivery and bunkering point in the port of Riga to serve ships sailing between Europe and Asia on the Northern Sea route.

“This initiative confirms the growing potential of economic cooperation between the Republic of Korea and Latvia. By combining Korea’s technological expertise with Latvia’s strategically important infrastructure, such a partnership can open new opportunities for innovation, investment and sustainable industrial development. I welcome this cooperation as another positive step in strengthening relations between our two countries,” said JongHan Kim, Korean Ambassador to Latvia, at the signing ceremony.