From September 16 to 17, under the leadership of Minister of Economics Viktors Valainis, a trade mission took place in Houston, USA, where entrepreneurs and representatives from the Investment and Development Agency of Latvia (LIAA) participated in Gastech, the world's largest energy sector conference, and engaged with energy companies and potential investors. As a result of the two-day program, a cooperation agreement was signed between KBR, a US-based global engineering, construction, and professional services company, and GI Terminal, a company within the Liepaja Special Economic Zone, along with several other key agreements. On September 18, the mission will continue to San Francisco, where President of Latvia Edgars Rinkevics will join the delegation, concluding in Denver on September 24.
"The Gastech energy conference is the largest event in the sector globally, attracting over 50,000 participants from 156 countries. During the conference, in a meeting with Geoffrey R. Pyatt, Assistant Secretary for Energy Resources at the US Department of State, we discussed opportunities for bilateral cooperation in the energy sector, energy security issues, and Latvia's support for Ukraine's energy sector. Additionally, together with the Latvian business delegation in Houston, we met with several companies, identified potential areas for cooperation, and, in one instance, secured an agreement to double diesel fuel supplies to Latvia. This will allow for more efficient use of our port infrastructure, promote competition, and strengthen supply security," emphasized V. Valainis.
The Gastech conference takes place in different cities each year. It is the largest and most influential annual event in the oil, natural gas, liquefied natural gas (LNG), hydrogen, and energy sectors. It brings together industry leaders and policymakers across the energy value chain. This year, the conference highlighted hydrogen technologies as a clean energy source, a sector where several significant projects have been proposed in Latvia.
Raivis Bremsmits, Director General of LIAA, also highlighted the significance of the conference. "Companies in the oil and natural gas markets are exploring new niches to maintain their market share. They are prepared to invest in green energy projects, which align with Latvia's priorities. We met with several potential investors, including a company specializing in photocatalysis technologies to reduce energy consumption and emissions in production processes," said R. Bremsmits.
In the presence of the Minister of Economics, a cooperation agreement was signed in Houston between the US company KBR and GI Terminals, a company within the Liepaja Special Economic Zone. Under the agreement, KBR will provide proprietary engineering solutions and equipment for developing a new sustainable aviation fuel (SAF) production facility with a projected capacity of up to 100 kilotonnes per year. The aviation fuel will be produced using CO₂ emissions and hydrogen. The partnership will also include consultancy services and additional support.
"The entry of a global player like KBR into Latvia marks a significant step towards green innovation. The production of sustainable aviation fuel and investments in hydrogen technologies, facilitated by the cooperation between the two companies, will undoubtedly drive Latvia's energy growth and enhance our industrial competitiveness," noted Minister of Economics V. Valainis.
The cities of Liepaja and Ventspils are actively pursuing green hydrogen projects, and similar facilities could be developed in other regions of Latvia, including Latgale - this region has already received proposals for several renewable energy initiatives, including wind and solar parks.
KBR's Senior Vice President for Sustainable Technologies, Ammon Ahmad, highlighted that this will be their first project in the Baltic region. He expressed satisfaction that KBR's technologies will soon enter the Baltic market. KBR's portfolio includes approximately 20 patented technologies for efficiently processing fossil resources, such as CO₂. The project in Liepaja is expected to be completed by 2030.
After Houston, the trade mission's second stop will be the US technology hub of San Francisco, where meetings are planned with companies such as Meta, Google, Microsoft, OpenAI, and others. Several Latvian technology companies will use this visit to engage with potential partners and explore investment opportunities.
In Denver, companies have individual meetings scheduled. They will have the opportunity to learn from SAF Tehnika's experience in the US market, meet with local business organizations, and engage with representatives of the Latvian community in Denver.
Latvia's current export trade balance with the US is under €1 billion, with services comprising approximately 50 percent of the total. This contrasts significantly with Latvia's overall export structure, where goods account for around 70 percent of exports. In this trade mission, 80 percent of the participating companies are service exporters, representing sectors such as data storage, IT services, financial technology, logistics, AI solutions, etc.
Companies and organisations participating in the trade mission include: Latvenergo; LMT; TET; TestDevLab; Asya; JEFF; RixTechnologies; SWH Sets; Freeport of Riga Authority; Liepaja Special Economic Zone; Freeport of Ventspils Authority; Fokker Next Gen; Codnity Dev; Delta Green Line EU; PrintyMed; Salaspils Siltums; AJ Power Holding; Liepājas enerģija; Siltumelektroprojekts; Rigas Siltums; GRINDEKS; Olpha; Latvian Chamber of Commerce and Industry; Kurzemes Zvejniecības Ražotāju Organizācija; Latgale Planning Region; RTU; SAF Tehnika; Handwave; Delta Green Line EU; BATWATEX; Moon Inc; Orbit8; Goldingen G.B.; Hyper; Abillio; Sehaci; Risk Focus LV; UPCODE; Computer Science Center; Latvian State Radio and Television Center; APPLY; Pelegrin; Helve; Ax Group; AD VERBUM; Liepaja Special Economic Zone SIA; GI Terminal; Riga Chair Factory; AmberBirch.
LIAA organizes the participation of high-ranking government officials in international visits within the framework of the Innovative Business Development Programme for Small and Medium-sized Enterprises (SMEs), co-financed by the European Union with support from the European Regional Development Fund and national funding.