PARAMARIBO, Suriname, CMC — Caribbean Energy Week (CEW) 2026 opened in Paramaribo this week, bringing together regional leaders, investors, and industry executives to chart the future of the Caribbean’s evolving energy sector.
Day one of the conference focused on a wide range of issues, including hydrocarbons, renewable energy, infrastructure, mining, and carbon credits. Ministers and energy officials from across CARICOM joined executives from major oil and gas companies to examine how the Caribbean can balance economic growth with energy transition goals.
A key message emerging from the discussions was the region’s continued commitment to oil and gas development, even as it expands its renewable energy capacity. Officials argued that growing global demand requires a practical approach that includes both traditional and clean energy sources. Ministers from Suriname and Trinidad and Tobago highlighted major discoveries, such as Guyana’s Stabroek Block and Suriname’s GranMorgu project, as critical drivers of investment, job creation, and regional cooperation.
Suriname, in particular, is positioning itself as a major energy hub, with first oil projected by 2028 and gas production by 2030.
Government officials say new policies are being introduced to attract investors, streamline development, and ensure that energy revenues translate into broader economic benefits, including workforce training and stronger local participation.
Elsewhere, Grenada announced plans to launch an offshore hydrocarbon bidding round by late 2026 or early 2027 to unlock its untapped energy potential.
Financing also took center stage, with the African Export-Import Bank unveiling an expanded US$5 billion mandate for the Caribbean.
The facility is expected to support oil and gas projects, infrastructure development, and regional collaboration, as countries move to close funding gaps and accelerate energy ambitions.
At the same time, the United States signaled deeper engagement in the region’s energy sector, highlighting opportunities for partnerships in exploration, infrastructure, and workforce development, particularly in Suriname’s growing offshore industry.
One of the standout projects discussed was Suriname’s GranMorgu development, which is advancing steadily toward first oil in 2028. Industry leaders say the project will not only boost production but also play a key role in building local capacity and strengthening supply chains.
Overall, the opening of CEW 2026 underscored a clear regional strategy: leveraging oil and gas resources to drive economic growth while gradually advancing the transition to cleaner energy—ensuring the Caribbean remains competitive in a rapidly changing global energy landscape.
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