Panama Key Figures
- Population:
- 4.47 million
- GDP growth rate:
- 7.32 %/year
- Energy independence:
- 20.1%
Data of the last year available: 2023
- Total consumption/GDP:*
- 63.8 (2005=100)
- CO2 Emissions:
- 2.40 tCO2/capita
- Rate of T&D power losses:
- 5.02%
* at purchasing power parity
View all macro and energy indicators in the Panama energy report
Panama Energy News
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Panama Energy Research
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Panama Total Energy Production & Consumption
In 2023, energy consumption per capita was 1.1 toe (27% below Mexico's average), including 3 510 kWh of electricity (around 40% above Mexico's average).
Total energy consumption increased by 3% to 4.9 Mtoe in 2023, returning to its long-term growth average (+3%/year since 2000); it dropped by 37% in 2020 and rebounded by 41% in 2021, driven by very high economic growth (11%).
Source: Panama energy report
Interactive Chart Panama Total Energy Production & Consumption
Source: Global Energy & CO2 data
Benefit from up to 2 000 up-to-date data series for 186 countries in Global Energy & CO2 data
View the detailed fondamentals of the market at country level (graphs, tables, analysis) in the Panama energy report
Panama Oil Production & Consumption
Panama imports all its oil products (3.5 Mt in 2023), as the production of oil products ceased in 2003 when the refinery was transformed into an import terminal.
Under the terms of the treaty signed in 1977, the Panama Canal came under Panamanian sovereignty in 1999. In 1982, in order to cope with the increase in traffic, the country commissioned the 200 kb/d Trans Panama pipeline (PetroTerminal of Panama S.A.), which runs 131 km through the Panamanian Isthmus.
Source: Panama energy report
Interactive Chart Panama Crude Oil Production & Consumption
Source: Global Energy & CO2 data
Interactive Chart Panama Refined Oil Products Production & Consumption
Source: Global Energy & CO2 data
Benefit from up to 2 000 up-to-date data series for 186 countries in Global Energy & CO2 data
Additionally, for more detailed information on refineries, you can request a sample of our America Refineries Dataset
Panama Natural Gas Production & Consumption
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 (180 000 m3 of storage, cost of US$650m). In 2023, the country imported 0.9 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.
Source: Panama energy report
Interactive Chart Panama Gas Production & Consumption
Source: Global Energy & CO2 data
Benefit from up to 2 000 up-to-date data series for 186 countries in Global Energy & CO2 data
Additionally, for more detailed information on the LNG trade, you can request a sample of our America LNG Trade Dataset
Panama Renewable in % Electricity Production
The second NDC (2024) targets 1.7 GW of distributed renewables by 2030 (solar and wind, large hydro excluded), which should cover 20% of energy consumption.
ETESA launched a new renewable tender in March 2025, aiming to allocate 120 MW of renewable energy (mainly hydro and wind power plants), with a 15-year contract signed with electricity distribution companies. Tenders are due at the end of October.
Source: Panama energy report
Interactive Chart Panama Share of Renewables in Electricity Production (incl hydro)
Source: Global Energy & CO2 data
Benefit from up to 2 000 up-to-date data series for 186 countries in Global Energy & CO2 data
Panama GHG emissions and CO2 emissions
The second NDC (2024) did not include a quantitative objective of reductions in total GHG emissions. It aims to cut total emissions from the energy sector by at least 11.5% by 2030 and by at least 24% by 2050 compared to a BaU scenario, representing up to 10 MtCO2eq of avoided emissions over 2022-2030 and 60 MtCO2eq over 2022-2050.
Following the success of its reforestation policy, the country aims at maintaining 68% of its forest cover over time at the national level to promote carbon absorption.
Source: Panama energy report
Interactive Chart Panama CO2 emissions
Source: Global Energy & CO2 data
Benefit from up to 2 000 up-to-date data series for 186 countries in Global Energy & CO2 data
View the detailed consumption trends at country level (graphs, tables, analysis) in the Panama energy report