Caribbean Energy Week (CEW) continued in Paramaribo, Suriname, on 1st April spotlighting the region’s shifting energy priorities and investment opportunities. Sessions covered offshore licensing, gas development, renewables, cross-border infrastructure and strategy partnerships, featuring insights from Caribbean energy ministers, regional regulators and executives from national and international energy companies. Discussions emphasized the Caribbean’s drive toward sustainable, resilient and inclusive energy systems, highlighting the interplay of policy reform, private-sector investment and regional cooperation in shaping the energy future.
Grenada Launches Fast-Track Licensing Round
Grenada is advancing a fast-track strategy to position its offshore basin as a competitive investment destination, underpinned by a modernised exploration framework and upcoming licensing round. A Q4 2026 call for proposals will target newly defined blocks in the Tobago Trough, combining competitive bidding and direct negotiations to accelerate deal-making while maintaining transparency and state oversight.
The initiative is supported by expanded data access and fiscal reforms, including a virtual data room offering seismic and well data, alongside revised production sharing contracts with competitive terms. Covering approximately 28,500 km2, the largely underexplored basin shows strong geological potential, with early data indicating viable hydrocarbon systems and positioning Grenada within a prolific regional petroleum province.
Caribbean Shifts Focus from Oil to Gas
Caribbean stakeholders are increasingly prioritising gas as the foundation for long-term industrialization, arguing that oil revenues alone are insufficient to drive sustainable economic growth. At CEW, industry leaders emphasized that gas should be leveraged domestically to power manufacturing, petrochemicals and energy-intensive industries, rather than being exported without capturing broader value.
The strategy centers on building integrated gas value chains to secure local markets, reduce energy costs and attract downstream investment. Experts highlighted the monetizing gas through infrastructure, regional cooperation and industrial use can enhance energy security and create jobs, positioning the Caribbean to convert its hydrocarbon resources into diversified, resilient economic growth.
Scaling Renewables Hinges on Regulatory Reform
Caribbean stakeholders emphasised that scaling renewables depends on regulatory reform, transparent procurement and private sector-led investment. Larger, aggregated projects can significantly reduce costs, while competitive processes improve pricing and bankability. During a dedicated decarbonisation session, speakers highlighted that market demand, grid capacity and policy alignment will ultimately drive investment in geothermal, hydrogen and other low-carbon solutions, enabling sustainable regional energy systems.
Venezuela Leverages Reserves to Drive Growth
A spotlight on Venezuela highlighted the country’s re-emergence as a strategic energy player, leveraging its estimated 300 billion barrels of reserves and proximity to key markets to drive regional supply and investment opportunities. Early entrants are positioned to secure favorable terms and partnerships as reforms open the sector, with renewed production and export flows supporting Caribbean energy security and deeper commercial integration.
Cross-Border Links Unlock Energy Potential
Ports, pipelines and power took centre stages at CEW as speakers highlighted that cross-border infrastructure will be critical to unlocking regional energy growth and improving market connectivity. Strengthening logistics and midstream systems can reduce costs, support new projects and enable efficient resource monetization across the Caribbean.
The discussion emphasised the need to attract long-term capital through bankable projects, public-private partnerships and coordinated regional planning. Scalable infrastructure, supported by development finance institutions, is seen as essential to enhancing energy security, facilitating trade and accelerating industrial and economic integration.
Smart Energy Policies
The day closed off with a session that framed energy as the foundation for Caribbean prosperity, emphasising its role in driving sustainable development, economic growth and deeper regional integration. Discussions highlighted the importance of coordinated policies, innovation and investment to ensure energy systems support long-term resilience and inclusive progress. Speakers underscored that aligning energy strategies with development goals can unlock new opportunities, strengthen regional cooperation and empower the private sector, positioning the Caribbean to achieve a sustainable, secure and prosperous energy future.
