Panama Energy Information
2018 Panama Key Figures
GDP growth rate: 3.68 %/year
Energy independence: 22.1%
* at purchasing power parity
CO2 Emissions: 2.16 tCO2/capita
Rate of T&D power losses: 13.3%
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Panama Related Research
Total Energy Consumption
In 2018, per capita energy consumption was 1.2 toe, including around 2 200 kWh of electricity.
Driven by a very dynamic economic growth, total energy consumption has increased very rapidly since 2009 (around 6%/year).
Oil is the main energy source consumed, accounting for 71% of the country's energy consumption, followed by hydroelectricity (14%) biomass (7%), coal (1%) and wind (1%).
Electricity consumption has grown at around 5.5%/year since 2010 to 9 TWh in 2018.
Graph: CONSUMPTION TRENDS BY ENERGY SOURCE (Mtoe)
Interactive Chart Panama Total Energy Consumption
Crude Oil Production
Panama imports all its oil products (8 Mt in 2018). Most of the oil products are imported from Curacao, followed by the United States.
The national production of oil products ceased in 2003 when the refinery was transformed into an import terminal.
Interactive Chart Panama Crude Oil Production
CO2 Fuel Combustion/CO2 Emissions
Panama submitted its Nationally Determined Contributions (NDC) in 2016, in which it targets a share of 30% of renewables in the electricity mix by 2050 (large hydro excluded), to expand reforestation to promote carbon absorption, and donations of US$1m to the Green Climate Fund. However, Panama has given no quantified target for GHG emissions reduction.
CO2 emissions from energy combustion have been multiplied by a factor of 4 since 1990. They increased very rapidly from 2009 to 2014 (9%/year), subsequently decreasing by 4%/year between 2015 and 2018 when they reached 9 MtCO2.
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