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Panama Energy Information

2018 Panama Key Figures

Population: 4.17 million
GDP growth rate: 3.68 %/year
Energy independence: 22.1%

* at purchasing power parity
Total consumption/GDP:* 72.5 (2015=100)
CO2 Emissions: 2.16 tCO2/capita
Rate of T&D power losses: 13.3%

Panama Related News

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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

More research: Panama energy report

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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