Energy Policy & Regulation

The African Energy Chamber (AEC) Executive Chairman, NJ Ayuk, will lead a Just Energy Transition Masterclass at the Suriname Awareness Symposium (SAS) in Paramaribo, Suriname, scheduled for January 27-28, 2025. This masterclass will delve into the emerging challenges and opportunities brought about by the global energy transition. It will focus on strategic measures aimed at ensuring inclusivity, equitability, and integration in the energy sector. Key themes such as investment, development, and collaboration will be explored, offering insights into how to balance energy poverty alleviation with the goal of reducing greenhouse gas emissions.

SAS 2025 seeks to accelerate Suriname’s economic growth by developing its energy sector. The symposium will bring together key stakeholders to discuss vital topics such as investment, diversification, and entrepreneurship. Beyond being just a conference or exhibition, SAS 2025 will serve as a platform for connecting industry leaders, building capacity, transferring knowledge, and fostering meaningful change. The AEC is a strategic partner for the event, with Ayuk also serving as a keynote speaker.

Suriname has become an increasingly attractive market for energy investment in recent years, particularly in the oil and gas sector. With offshore oil discoveries made between 2019 and 2022, the country has drawn significant investment from various companies. The Shallow Offshore Bid Round in 2021 and the deepwater licensing round in November 2022 further amplified the country’s appeal. Recent developments include TotalEnergies' $10.5 billion Final Investment Decision for the GranMorgu project and partnerships between ExxonMobil, Petronas, and the Surinamese government, positioning Suriname as one of the world’s promising energy markets.

As the country capitalizes on its hydrocarbon potential, the Surinamese government is focused on ensuring that local communities benefit from this growth. Through its Royalties for Everyone program, Suriname plans to distribute revenues generated from oil and gas projects, with up to $10 billion expected over the next 10 to 20 years. This program is designed to drive local economic development by sharing profits with citizens. SAS 2025 will highlight the importance of collaboration across government, the private sector, and communities, and promote topics like local content, good governance, and environmental sustainability to ensure that Suriname’s energy future is both prosperous and inclusive.