- Update
-
- Format
- 3 files (PDF report, 2 Excel files)
- Pages
-
50 (Report only)
- Delivery
- Immediate by e-mail
- GENERAL OVERVIEW
- ENERGY AND CLIMATE POLICY FRAMEWORK
- ENERGY COMPANIES
- ENERGY SUPPLY AND DEMAND
- ENERGY USE AND PRICE BY SECTOR
- ISSUES AND PROSPECTS
- STATISTICS
- ABBREVIATIONS
- GLOSSARY
Buy Panama energy report
Price without VAT. Depending on your statute and location, VAT might be applicable. Get in touch with us for more information.
After validation, you will immediately receive 3 files by email (one pdf report and 2 excel files containing the datasets).
Overview
Panama is advancing its energy transition with ambitious renewable targets, aiming for a significant share of solar and wind in its power capacity by mid-century. Governed by the National Energy Secretariat and supported by key policies, the country seeks to reduce emissions, phase out coal, and expand green hydrogen production while enhancing energy efficiency and electric mobility.
Get more details on the table of contents and data files, as well as the list of graphs and tables by browsing the tabs below.
Highlights
- Panama targets 1.7 GW of distributed renewables by 2030 and 30% of solar and wind in the power capacity in 2050. The country aims to reduce GHG emissions by 11% in 2035.
- Three companies represent around 60% of total electricity generation (AES, Gatun and Enel). Naturgy controls two of the three distribution companies.
- The country imports all its oil products.
- The share of renewables in the power mix increased by 19 points in 2024 to 73% with the mothballing of a coal-fired power plant.
- Oil is the main energy source of final consumers (64% in 2024).
- Buildings and transport account each for 41% of the final consumption.
- Energy demand is planned to increase by nearly 3%/year until 2039. Around 4.9 GW of wind and solar projects are planned.
- The commissioning of the 400 MW interconnection between Colombia and Panama has been delayed to 2029.
Energy & Climate Policy Framework
The National Energy Secretariat ("Secretaría Nacional de Energía") conducts the energy policy.
The Ministry of Environment ("Ministerio de Ambiente") manages the country's natural resources. It was created back in 2015 following the dissolution of ANAM ("Autoridad Nacional del Ambiente").
Energy Companies
Electricity:
There are about 30 electricity generation companies. The three largest are AES, Gatun and Enel, with almost 60% of total generation.
Energy Supply & Demand
Gas:
Panama started to import natural gas as LNG in 2018, following the commissioning of the Costa Norte LNG import terminal, with a capacity of 2 bcm/year. In 2024, the country imported 0.6 bcm from the United States. AES's subsidiary Gas Natural Atlántico will import up to 0.4 Mt/year of LNG from Engie over 2018-2027.
All the gas is consumed in the power sector.
Energy Use and Price by Sector
Energy Prices in Industry:
The price of electricity in the industrial sector has been quite stable since 2022, averaging USD 15c/kWh (USD 15.3c/kWh in 2025, +1%) in 2025 and after a slight decline in 2020 and 2021. These prices were 30% lower than the levels observed in Colombia in 2024.
Graph: Energy Prices in Industry (Taxes Included)
Issues & Prospects
Gas:
In September 2025, the Panama Canal Authority unveiled plans for a 77 km-long gas pipeline to transport LPG (propane, butane and ethane) along the canal to ease fuel deliveries from the United States to Asia. The project could transport up to 2.5 mb/d and would be worth between USD2bn and USD8bn (depending on the transported gases).
- Graph 1: Primary Consumption Trends by Energy Source
- Graph 2: Total Consumption Market Share by Energy (2024)
- Graph 3: Installed Electric Capacity by Source
- Graph 4: Installed Electric Capacity by Source (2024)
- Graph 5: Gross Power Production by Source & Consumption
- Graph 6: Power Generation by Source (2024)
- Graph 7: Petroleum Products Production & Consumption
- Graph 8: Gas Production & Consumption
- Graph 9: Coal Production & Consumption
- Graph 10: Emissions of GHG and CO2 from Fuel Combustion
- Graph 11: Final Demand Trends by Energy Source
- Graph 12: Final Consumption by Sector
- Graph 13: Final Consumption Market Share by Sector (2024)
- Graph 14: Final Consumption in Industry by Energy Source
- Graph 15: Energy Prices in Industry (Taxes Included)
- Graph 16: Final Consumption in Transport by Energy Source
- Graph 17: Energy Prices in Transport (Taxes Included)
- Graph 18: Final Consumption in Residential, Services, Agriculture by Energy Source
- Graph 19: Energy Prices in Residential (Taxes Included)
- Graph 20: Upcoming New Capacity by Energy Source
- Economic Indicators: Annual historical data including population, GDP growth, imports and exports, inflation rate, energy security and efficiency indicators, CO2 emissions.
- Supply Indicators: Historical data including oil and gas reserves, electric and refining capacity, energy production, power production and external trade. All are detailed by energy source.
- Demand Indicators: Historical data including consumption per inhabitant, consumption trends, total consumption by energy source, final consumption by energy source and sector, and electricity consumption by sector.
- Energy Balances: Single table displaying the overall energy industry balance per annum, also graphically displayed by energy sub-segment.
The Panama energy market data since 1990 and up to
is included in the Excel file accompanying the Panama country report.
It showcases the historical evolution, allowing users to easily work with the data.
Key Data included in the excelsheet:
- Economic indicators: Annual historical economic indicators, energy security, energy efficiency and CO2 emissions.
- Supply indicators: Annual historical reserves, capacity, production and external trade (imports(+) exports(-) balance).
- Demand indicators: Annual historical consumption per capita, consumption trends, total consumption, final consumption (per energy and per sector) and electricity consumption total and per sector.
- Energy Balance: total and per energy.
- Panama Energy Prices: In addition to the analysis provided on the report we also provided a data set which includes historical details on the Panama energy prices for the follow items: price of premium gasoline (taxes incl.), price of diesel (taxes incl.), price of electricity in industry (taxes incl.), price of electricity for households (taxes incl.), price of natural gas in industry (taxes incl.), prices of natural gas for households (taxes incl.), spot price of Brent and CO2 emissions (from fuel combustion).