Guyana/Suriname key to mitigating global energy poverty – Suriname’s President

Guyana and Suriname have the potential to address the global energy needs, President of Suriname, Chandrikapersad Santokhi said on Tuesday.

He was at the time delivering remarks during the opening of the International Energy Conference and Expo currently underway at the Marriot hotel, Kingston, Georgetown.

He said the countries’ oil and gas industry could help to mitigate “the global energy poverty which makes it difficult for almost a billion people to develop a productive livelihood.”

“In championing this transition we must recognise that others have gone before us and have profited from the earned revenues to develop a modern economy and create a future path of economic development, where oil and gas may not play such a significant role anymore,” he stated.

President Santoki said Guyana and Suriname have been strengthening their relationship since himself and Guyana’s President, Dr. Mohamed Irfaan Ali took office, partnering in a number of areas.

“We have the same goal and commitment to our current and certainly future generations. No doubt we must be responsible in our approach and develop our oil and gas resources in an environmentally friendly sector.”

President Santoki said responsible approach by both countries with oil and gas will ensure the citizens of both countries benefit from the wealth.

President Santoki said the investment by the countries that have excelled in utilising oil and gas have seen the development of wealth for generations to come. He highlighted that several wells will be dug in Suriname waters shortly, in a sustainable way.

“In charting the ways forward, a sustainable renewable energy future, we will need to take important and fundamental decisions in the areas of energy education, renewable energy, local content development and strategic energy cooperation.”

“We will need to empower our people and private sector… in my view in building a sustainable energy future goes with special responsibility with the population with how they consume safe energy and also how to mitigate the harmful impacts of the oil and gas industry,” President Santoki said.

The Surinamese President highlighted that in his country’s 2022 budget, there will be investments in educating the nation on how energy will benefit them. Added to that, he noted that very soon the country will develop its local content policy which will ensure that the people benefit from the resources of the country.

Guyana in December of 2021, passed its Local Content Legislation and its Natural Resource Fund Act. It is also important to note that Guyana’s 2022 National Budget is its first to be funded using monies from its oil funds.

President Santhoki said he has also embraced the concept of sustainable development outside its borders promoting functional cooperation between Guyana, Brazil and Suriname. He said the countries will collaborate in several areas that includes energy.

He noted that the idea is to merge resources to have a cost-effective energy source facility utilising mineral resources of the three countries.

The historic four-day energy conference is being held under the theme ‘Charting a sustainable energy future.’