63%
power generation from renewables (2020)
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This analysis includes a comprehensive Panama energy market report and updated datasets. It is derived from the most recent key economic indicators, supply and demand factors, oil and gas pricing trends and major energy issues and developments surrounding the energy industry. The report provides a complete picture of the country situation, dynamics, current issues and future prospects. With 2020 market data and continuous follow-up of markets news, this report brings clear and concise insights with which to tackle national energy challenges and opportunities. Browse the tabs below for a detailed table of contents, the list of graphs and tables, and details on the data files.
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Highlights
63%
power generation from renewables (2020)
~5%/yr
total energy consumption growth over 2009-2019
30%
share of wind and solar in power capacity by 2050
Abstract
Institutions & Energy Policy
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
Gas:
Costa Norte (100% AES Corporation) started the operation of an LNG import terminal (2 bcm/year) in 2018.
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Energy Supply
Oil:
Panama imports all its oil products (4 Mt in 2020), as the production of oil products ceased in 2003 when the refinery was transformed into an import terminal.
Energy Prices
Oil:
Motor fuel prices have decreased since 2018, following international prices. In 2020, the price of diesel stood at US$0.65/l and that of unleaded gasoline at US$0.78/l. They increased from 2016 to 2018 (by 18% for diesel and 14% for gasoline).
Energy Consumption
In 2020, energy consumption per capita was 0.9 toe, including 2 100 kWh of electricity.
Total energy consumption dropped by 23% in 2020 to 3.8 Mtoe. Driven by very dynamic economic growth, total energy consumption increased very rapidly between 2009 and 2019 (around 5%/year).
Issues & Prospects
Electricity:
ETESA's power development plan 2019-2033 expects electricity demand to grow by around 3.5%/year over the period (reference scenario). It foresees 5.6 GW of capacity in 2033 with the share of gas in the power mix increasing to almost 30%.
Below is a list of the Panama energy market report graphs:
In the Panama energy market report you will find the following tables:
The Panama energy market data since 1990 and up to 2020 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:
The Panama country report is complemented with a national power generation dashboard (excel file) from our Power Plant Tracker Service.
Data included in the excelsheet:
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