Caracas.- The People’s Ministry for Energy and Petroleum (Menpet) and president of Petróleos de Venezuela (PDVSA), Rafael Ramírez, announced that it is possible to have a diversified energy matrix by 2030 in the Caribbean region.

The announcement was made during the 4th Petrocaribe Summit held in Cuba, based on the results of the studies carried out on Caribbean Energy Matrix Characteristics by experts in the field. 

Ramírez stated that currently, oil and gas account for 76.1% of the region’s energy consumption, but that by 2030 it’s expected to be at around 60.7%.

With respect to renewable sources (hydroelectric power and biofuels), consumption is currently at 9.8%, a figure that may increase to 13.9% by 2030. “This indicates that the region has a very high potential to diversify its energy matrix in the future, especially with regard to natural gas and renewable energy,” said the Minister.

Rationally taking advantage of other sources of energy would allow the Caribbean population’s standard of living to improve, since these countries have significant natural diversity that allows them to intensify the use of wind, solar, and hydroelectric energy.

Concerning these issues, Minister Ramírez pointed out that with regard to wind energy, Jamaica has important experience in the matter, just like Cuba and Venezuela, which is on the verge of finishing an energy park of 100,000 megawatts.

Concerning geothermal energy, he mentioned that given Nicaragua’s and Dominica’s volcanic activity, these countries have relevant potential that if developed could supply domestic and foreign markets.

Concerning solar energy, he said that between Cuba and Venezuela there is a project in the works that will develop this area.

Lastly he said that the results of these studies demonstrate the advances being made in the uses of renewable energy sources in the Caribbean in order to deepen and consolidate the region’s energy integration and thereby reduce energy asymmetries.