Energy profile: Suriname

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This page is part of Global Energy Monitor's Latin America Energy Portal.
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Fuel mix (fossil fuels vs renewables)

As of 2020, 52.9% of Suriname's electricity was generated from fossil fuels, 46.7% from hydro power, and 0.4% from solar energy.[1] Suriname aims to keep its share of electricity from renewable sources above 35% by 2030, according to the country's updated NDC (Nationally Determined Contribution) plan.[2]

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."[3] Suriname plans to meet these goals by focusing on forests, electricity, agriculture, and transportation.[3]

Government energy agencies & other key players

National energy ministry

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

Permitting agencies

Suriname's permitting process is detailed in a report by the Inter-American Development Bank, ESIA (Environmental and Social Impact Assessment for Energy Infrastructure Projects).

Electric utilities

Suriname's national electrical company EBS (NV Energie Bedrijven Suriname) is focused on improving reliability and sustainability of electricity.[4]

National oil company

Staatsolie is the national oil company of Suriname. The company celebrated their 40 year anniversary in December 2020 at which time it employed more than 1000 persons.[5] Staatsolie expanded into renewable energy when they assumed the operation of Afobaka Hydroelectric plant in 2020. The six strategic goals of the company to realize their Vision 2030 include sustaining onshore production, remaining a first quartile producer, establishing shallow offshore join ventures, participating in deep offshore opportunities, developing and implementing alternative energy sources, and strengthening to world-class standards.[5]

Regulatory agencies

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

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.[7]

Electricity usage

Installed capacity

As of 2020, Suriname's installed electricity capacity was 501 MW, with fossil fuels accounting for nearly 62% and renewables (mostly hydro power) making up the remainder.[1]

Electricity generation mix 2020, Source: ETI

Production

In 2020, Suriname generated 2.4 TWh of electricity.[1]

Demand

As of 2018, the peak electrical demand was 215.4 MW and 97% of the population had access to electricity.[8]

Consumption

As of 2020, 48% of electricity was consumed by the industrial sector, followed by the residential (33%) and commercial (19%) sectors.[8]

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]

In October 2021, Staatsolie signed an offshore oil output sharing contract with Chevron for 30 years in Block 5 which includes exploration, development, and production rights.[11] The development of the oil industry in Suriname is viewed as an economic protection despite the country experiencing the direct effects of climate change.[12]

Consumption

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

Imports & source countries

Suriname was importing neither crude oil nor associated petroleum products as of 2021.[13]

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.[14] It is likely that Suriname will use oil and gas investment to jump-start its troubled economy.[15]

Transport

The majority of Suriname's oil is moved via tanker trucks. A 55-kilometer oil pipeline from Saramacca to Staatsolie's Tout Lui Faut export terminal became operational in August 1992.[16][17]

Renewable Energy in Suriname

As of September 2020, hydro power (180 MW), solar (7 MW), and biomass (2 MW) were the main forms of renewable energy.[8] The Development of Renewable Energy, Energy Efficiency, and Electrification of Suriname program is being followed to promote renewable energy integration. Solar power will likely become an essential energy source as prices drop and Suriname attempts to move away from fossil fuels.[18]

In November 2021, Suriname finalized plans to build a floating solar farm to ease the reliance on the Afobaka Hydropower plant which generates approximately half of the energy consumed.[19][20]

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 as a result of climate change.[3] Other environmental challenges facing Suriname include deforestation, water pollution from mining, and salinization of potable water.[21] In 2020, Suriname pledged to expand its protected forests and wetlands to cover 17% of national territory by 2030, up from the current 14%.[2][22]

At COP26 in 2021, Surinamese President Santokhi emphasized his country's commitment to protecting forests in order to mitigate the effects of climate change such as flooding while simultaneously highlighting the country's desire to continue to develop the oil industry.[23]

References

  1. 1.0 1.1 1.2 "Panorama Energético de América Latina y el Caribe 2021". OLADE. November 2021.
  2. 2.0 2.1 "Nationally Determined Contribution 2020" (PDF). The Republic of Suriname. December 2019.
  3. 3.0 3.1 3.2 "Suriname's climate promise, for a sustainable future". UN News. 2020-01-31. Retrieved 2021-05-24.
  4. Energie Bedrijven Suriname. "Projecten". nvebs.com (in Nederlands). Retrieved 2021-05-24.
  5. 5.0 5.1 "Staatsolie - 2020 Annual Report". www.staatsolie.com. Retrieved 2021-12-02.
  6. "Suriname Energy Situation". Energypedia. September 11, 2020.
  7. "Suriname - Employment In Industry (% Of Total Employment) - 1973-2020 Data | 2021 Forecast". tradingeconomics.com. Retrieved 2021-05-24.
  8. 8.0 8.1 8.2 "Suriname Energy Snapshot" (PDF). Energy Transitions Initiative. September 2020.
  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 state oil firm, Chevron sign offshore oil output sharing contract". Reuters. 2021-10-13. Retrieved 2021-12-02.
  12. Krauss, Clifford (2021-01-20). "Suriname Could Be Latest Big Oil Find as Industry Cuts Costs". The New York Times. ISSN 0362-4331. Retrieved 2021-12-02.
  13. "Suriname Exports of Crude Oil and Petroleum Products by Destination". www.eia.gov. Retrieved 2021-05-24.
  14. "Offshore Suriname to debut on oil stage in 2025". Argus Media. January 19, 2021.
  15. "Suriname Could Be Latest Big Oil Find as Industry Cuts Costs". New York Times. January 20, 2021.
  16. "Company Profile" (PDF). Staatsolie. 2018.
  17. "Staatsolie - About Us". www.staatsolie.com. Retrieved 2021-05-24.
  18. "What is the future of Solar energy in Suriname? - Energía para el Futuro". Energía para el Futuro. 2019-03-19. Retrieved 2021-05-24.
  19. Ammachchi, Narayan. "Suriname to Build Solar Farm to Generate Electricity". Nearshore Americas. Retrieved 2021-12-02.
  20. "Jamaica Observer Limited". Jamaica Observer. Retrieved 2021-12-02.
  21. "Suriname | Encyclopedia.com". www.encyclopedia.com. Retrieved 2021-05-24.
  22. "Latin America's wake up call: From pandemic to climate emergency". theglobalamericans.org. Retrieved 2021-05-24.
  23. Ragobeer, Vishani (November 2, 2021). "COP26: Guyana, Suriname champion payments to save forests at global summit". Climate Tracker. Retrieved December 2, 2021.