Energy Profile-Suriname

From Global Energy Monitor
This page is part of Global Energy Monitor's Latin America Energy Portal.
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Economy & demographics

Projected GDP growth

As of 2020, the GDP of Suriname was $3.6 billion.[1] National debt jumped drastically between 2019 and 2020 from 82.3% of the GDP to 145.27% of the GDP.[2] The national debt of Suriname is expected to continue to be greater than the GDP until at least 2025 when debt is predicted to be 120.49% of the GDP.[2]

Projected population growth

As of May 2021, the population of Suriname was 591,402, with 65.1% of persons living in urban areas.[3] The population is expected to grow to 615,700 by 2026 with the population peaking at an estimated 684,400 in 2060.[4]

Government energy plans

Fuel mix targets (fossil fuels vs renewables)

As of 2020, 59.6% of electricity was generated by hydropower, 40% from fossil fuels and 0.4% from solar energy.[1] The country aims to maintain the share of electricity from renewable sources above 35% by 2030 according to Suriname's NDC.

Greenhouse gas emissions targets

Suriname pledged to not exceed 1.5 degrees Celsius above pre-industrial levels while also following a "cost-effective pathway to decarbonization of sustainable economic development."[5] Suriname plans to meet these goals by focusing on forests, electricity, agriculture, and transportation.[5]

Government energy agencies

National energy ministry

The Ministry of Natural Resources is responsible for the government's energy programs and initiatives.

Permitting agencies

A report by the Inter-American Development Bank, ESIA (Environmental and Social Impact Assessment for Energy Infrastructure Projects) details the permitting process.

Regulatory agencies

EBS and Staatsolie are responsible for their own regulatory processes.[6]

Electric utilities

EBS (NV Energie Bedrijven Suriname) is the national electrical company of Suriname who is focused on improving reliability and sustainability of electricity.[7]

National oil company

Staatsolie is the national oil company of Suriname.

Leading energy companies

EBS is the leading energy company for electricity and gas.

Energy sector employment data

In 2020, 23.49% of those employed in Suriname worked in the industry sector which includes mining, quarrying, manufacturing, construction, electricity, gas, and water.[8]

Electricity usage

Installed capacity

As of 2020, the installed electricity capacity of Suriname was 503.4 MW.[1]

Electricity generation mix 2020, Source: ETI

Production

In 2017, Suriname generated 328.5 GWh of electricity.[1]

Demand

As of 2018, the peak electrical demand was 215.4 MW and 97% of the population had access to electricity.[1]

Consumption

As of 2020, 48% of electricity was consumed by the industrial sector, followed by residential (33%) and commercial (19%).[1]

Coal in Suriname

Suriname does not produce, consume, import, or export coal.[9]

Oil & Natural Gas in Suriname

Crude oil production 2016-2021, Source: Trading Economics

Domestic Production

As of 2018, Suriname was producing 17,000 barrels of crude oil per day with 84.2 million barrels of proven crude oil reserves.[10] Suriname produces 7,571 barrels per day of refined petroleum products as of 2015.[10] Suriname did not produce natural gas as of 2017.[10]

Consumption

Suriname consumed 13,000 barrels per day of refined petroleum products during 2016 and in 2017 the country consumed no natural gas.[10]

Imports & source countries

Suriname was not importing crude oil nor associated petroleum products as of 2021.[11]

Proposed new sources & projects

Throughout 2020, five offshore oil and gas discoveries were made off the coast of Suriname, one of which is expected to start producing oil by 2025.[12] It is likely that Suriname will use oil and gas investment to jumpstart their troubled economy.[13]

Transport

The oil pipeline run by Staatsolie from Saramacca to Tout Lui Faut became operational in August 1992.[14] The majority of oil is moved via tanker trucks.

Renewable Energy in Suriname

As of September 2020, Hydropower (180 MW), solar (7 MW), and biomass (2 MW) were the main forms of renewable energy.[1] The Development of Renewable Energy, Energy Efficiency, and Electrification of Suriname program is being followed to promote renewable energy integration. As the cost of solar power continues to drop it is likely solar will turn into an essential source of energy as Suriname attempts to move away from fossil fuels.[15]

Iron & Steel in Suriname

Suriname has small amounts of iron ore.[16] The amount of imports and exports of iron ore is virtually nonexistent.[17]

Environmental & social impacts of energy in Suriname

Suriname has suffered from extensive soil erosion, heavy rainfall, flooding, higher temperatures, high winds, and more intense storms all due to climate change.[5] Deforestation, water pollution from mining, and salinization of potable water are notable destructive processes occurring in Suriname.[18] Suriname pledged to increase the protected areas up to 17%.[19]

References

  1. 1.0 1.1 1.2 1.3 1.4 1.5 1.6 "Suriname Energy Snapshot" (PDF). Energy Transitions Initiative. September 2020.
  2. 2.0 2.1 "Suriname - national debt in relation to gross domestic product (GDP) 2025 | Statista". Statista. Retrieved 2021-05-24.
  3. "Suriname Population (2021) - Worldometer". www.worldometers.info. Retrieved 2021-05-24.
  4. "Population Pyramids of the World from 1950 to 2100". PopulationPyramid.net. Retrieved 2021-05-24.
  5. 5.0 5.1 5.2 "Suriname's climate promise, for a sustainable future". UN News. 2020-01-31. Retrieved 2021-05-24.
  6. "Suriname Energy Situation". Energypedia. September 11, 2020.
  7. Energie Bedrijven Suriname. "Projecten". nvebs.com (in Nederlands). Retrieved 2021-05-24.
  8. "Suriname - Employment In Industry (% Of Total Employment) - 1973-2020 Data | 2021 Forecast". tradingeconomics.com. Retrieved 2021-05-24.
  9. "Suriname Coal Reserves and Consumption Statistics - Worldometer". www.worldometers.info. Retrieved 2021-05-24.
  10. 10.0 10.1 10.2 10.3 "Suriname - The World Factbook". www.cia.gov. Retrieved 2021-05-24.
  11. "Suriname Exports of Crude Oil and Petroleum Products by Destination". www.eia.gov. Retrieved 2021-05-24.
  12. "Offshore Suriname to debut on oil stage in 2025". 2021-01-19. Retrieved 2021-05-24.
  13. "Suriname Could Be Latest Big Oil Find as Industry Cuts Costs". Retrieved 2021-05-24.
  14. "Staatsolie - About Us". www.staatsolie.com. Retrieved 2021-05-24.
  15. "What is the future of Solar energy in Suriname? - Energía para el Futuro". Energía para el Futuro. 2019-03-19. Retrieved 2021-05-24.
  16. "Suriname: Mining, Minerals and Fuel Resources". AZoMining.com. 2012-08-09. Retrieved 2021-05-24.
  17. "Iron Ore in Suriname". oec.world. Retrieved 2021-05-24.
  18. "Suriname | Encyclopedia.com". www.encyclopedia.com. Retrieved 2021-05-24.
  19. "Latin America's wake up call: From pandemic to climate emergency". theglobalamericans.org. Retrieved 2021-05-24.