Port of Riga signs MoU to explore green methanol production and bunkering hub

The Freeport of Riga Authority recently said it signed a Memorandum of Understanding (MoU) with South Korean company ECOMETHANOL and Latvian company AE Risinājumi to explore the development of a green methanol production facility at the Port of Riga.

The cooperation aims to develop green methanol production for export and as an alternative marine fuel, while also exploring the establishment of a green fuel supply and bunkering hub at the port.

“The initiative could create new opportunities to supply vessels operating between Europe and Asia via the Northern Sea Route, while strengthening the Port of Riga’s role in the transition towards more sustainable maritime transport,” it said in a social media post.

The port authority said this partnership marked another step towards attracting green energy investments, developing new industrial activities and strengthening the Port of Riga’s role in future energy supply chains.

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