Posts Tagged ‘Latvia’
Trading on the Baltic and Finnish gas markets to move to the European Energy Exchange platform
Starting from 9 September 2025, trading on the Baltic and Finnish gas markets will shift from the GET Baltic platform to the European Energy Exchange (EEX).
The change will enable Estonian market participants to strengthen their connection with the Baltic and Finnish markets and gain access to European markets, including the possibility to trade with Contract for Difference (CfD) between these markets. For consumers, this means that gas prices in Estonia will follow European price trends more closely. With the help of CfD, gas sellers will be able to better hedge their risks, which should reduce sales margins.
“As a result of successful cooperation between the gas exchanges EEX and GET Baltic, as well as between Elering and other Baltic/Finnish transmission system operators, we will continue offering implicit capacity allocation, which ensures greater liquidity and better price convergence between the Finnish-Baltic gas market areas,” said Airi Noor, Head of Market Development at Elering.
Read full announcement (external link)
Originally published on 8 Sep
Read MoreLIAA digitization support program: 5.4 million euros reserved, but funding still available
Since July, when the Latvian Investment and Development Agency (LIAA) began implementing the second round of the digitalization support program, the total funding of which is 18.5 million euros, 5.4 million euros have been reserved and entrepreneurs will be able to apply for the program until the support funds are available.
“Digitalization and the implementation of artificial intelligence solutions are one of the ways to increase the competitiveness of the Latvian economy, therefore it is a special pleasure that the majority, or 4.28 million euros, of the currently reserved funds in this program are intended specifically for projects in the field of artificial intelligence. We will most likely accept applications in this program at least until the end of this year,” emphasizes LIAA Director Ieva Jāgere.
A total of 285 applications have been received in the program so far, including 66 for the implementation of artificial intelligence solutions.
Read full announcement (external link)
Originally published on 5 Sep
Read MoreLatvian drones in the spotlight at the DSEI Defence and Security Exhibition
This year, at one of the world’s largest and most significant defence and security industry exhibitions, DSEI, Latvia will be represented with its largest-ever delegation of participants, with drone manufacturers especially to the fore. The Latvian business delegation will showcase aerial, ground, surface, and underwater drones, as well as anti-drone systems, while the Latvian company VicTec will stage water drone demonstration shows on the River Thames during the exhibition.
Also on display at the Latvian delegation’s stand will be a range of products essential to the defence and security sector, including tactical clothing, optical and training equipment, chemical, logistics and pyrotechnic solutions, and metalworking products.
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Originally published on 5 Sep
Read MoreairBaltic to launch five direct scheduled flights weekly between Oulu and Riga
The Latvian airline airBaltic will begin direct scheduled flights between Riga and Oulu – the European Capital of Culture 2026 – in March 2026. The return flights will operate five days a week (Mondays, Tuesdays, Thursdays, Fridays and Saturdays) starting from 29 March until the end of October 2026.
Yrjötapio Kivisaari, CEO of Oulun Matkailu Oy, welcomes the new connection.
– We have been discussing the opening of this route in different settings for a long time. Now we finally have good news! airBaltic’s new connection strengthens the international accessibility of Oulu and the whole of Northern Finland at exactly the right time, bringing visitors to enjoy the cultural year’s offerings. Our clear goal is to establish the connection also for the coming years, Kivisaari says.
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Originally published on 2 Sep
Read MoreChanges in RB Rail’s Management Board
The joint venture RB Rail AS, responsible for implementing the Rail Baltica global project, announces changes in its Management Board. Effective 1 September 2025, the Board will be composed of five members: Marko Kivila (Chairperson and Chief Executive Office), Marius Narmontas (Chief Operating Officer), Emilien Dang (Chief Technical Officer), Thierry Boussillon (Chief Programme Management Officer), and Ojārs Daugavietis, who joins as Chief Financial Officer. The Management Board provides strategic leadership and ensures the coordinated delivery of the Rail Baltica project across the three Baltic States.
According to Arenijus Jackus, Chairperson of the RB Rail’s Supervisory Board, the Rail Baltica project and the joint venture have faced notable transformation over the past two years considering external challenges and new geopolitical and economic realities. This has required adjustments to project planning, optimisation of solutions and implementation steps, optimization of the joint venture and the whole project management set-up as well as stronger risk and stakeholder management.
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Originally published on 1 Sep
Read MoreLatvia to host EUDIS Defence Hackathon for the first time
Riga Technical University (RTU) Science and Innovation Centre (ZIC) invites applications for participation in the defence industry hackathon EUDIS Defence Hackathon 2025 by May 5. The hackathon will take place from May 9 to 11 at RTU Rezekne Academy.
The goal of the hackathon is to promote innovation development in the defence sector, focusing on the creation of innovative equipment and software solutions for Ukraine’s defence needs.
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Originally published on 14 Apr
Read MoreBaltic Pavilion Officially Opens at Expo 2025 Osaka
Today, on April 13, the Baltic Pavilion, with the theme “We Are One,” was officially opened at Expo 2025 Osaka, the world’s largest international exhibition. Showcasing a joint presence of Latvia and Lithuania, the pavilion explores the synergy between nature, people, and technology. The global event in Japan will run for six months—until October 13—bringing together 160 countries and 9 international organizations. An estimated 28 million visitors from around the globe are expected to attend.
The official opening of the Baltic Pavilion was marked by a ribbon-cutting ceremony attended by Edmunds Valantis, State Secretary at the Ministry of Economics of Latvia; Lāsma Līdaka, Commissioner General of Latvia at Expo 2025; Zigmārs Zilgalvis, Ambassador of Latvia to Japan; Lina Antanavičiene, Commissioner General of Lithuania at Expo 2025 Osaka; Aurelijus Zykas, Ambassador of Lithuania to Japan; and Artūrs Analts, the artist and designer of the Baltic Pavilion.
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Originally published on 14 Apr
Read MoreEntrepreneurs invited to join conference and workshops at “Future_Ready 2025”
Business and Innovation – Are You Ready for Tomorrow?
Entrepreneurs are invited to the Future_Ready 2025 conference on April 25 in Riga, organized by the Latvian IT Cluster (LITK), Latvian Digital Accelerator (LDA), and the academic partner RTU Riga Business School. The event will bring together industry leaders and entrepreneurs to highlight key technology trends and their impact on business.
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Originally published on 11 Apr
Read MoreLithuania, Latvia and Germany plan an offshore electricity interconnector
On 9 April, Minister of Energy Žygimantas Vaičiūnas attended the annual conference of the European Wind Energy Association, Wind Europe 2025, in Copenhagen (Denmark).
During the conference, Minister of Energy Mr Vaičiūnas met with Kaspars Melnis, Minister for Climate and Energy of the Republic of Latvia, and Volker Oschmann, Director General for Electricity at the German Federal Ministry of Economic Affairs and Climate Action, and together they presented the planned project of an offshore electricity interconnector between the Baltic States and Germany.
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Originally published on 9 Apr
Read MoreEIB Group opens office in Latvia to support strategic investments
The European Investment Bank (EIB) Group opened an office in Latvia today to propel strategic investments and sustainable growth in the country. This office, located in the capital Riga, will focus on priority projects in areas including climate action, digitalisation, housing, security and defence.
The EIB Group, which also includes the European Investment Fund (EIF), will use its presence in Riga to deepen cooperation with Latvian partners in the public and private sectors including small and medium-sized enterprises (SMEs).
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Originally published on 7 Apr
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