Pres Santokhi says Suriname reaping benefits from Ukraine-Russia war

Surinamese President Chandrikapersad Santokhi has said the ongoing war in Ukraine has resulted in some economic gains for his country.

Speaking virtually at today’s opening of the 2023 International Energy Conference and Expo, Santokhi, who was forced to miss the conference due to the delivery of his country’s national budget, said the war resulted in investors looking to Suriname as a solution to meet the world’s energy needs due to sanctions against Russia following their invasion of Ukraine.

“The extraction of Surinamese gas was so far not profitable. However, the war in Ukraine changed the situation and Surinamese gas can offer a solution,” Santokhi said as he called for Suriname and Guyana to explore possibilities that exist in their lucrative offshore and onshore resource.

“By developing a joint programme, Suriname and Guyana will share expertise and resources, save costs, reduce risk, improve our relation, and develop the border areas… increase production and also promote greater transparency and accountability,” Santokhi said.

According to Santokhi, cooperation between the Caribbean Community’s largest countries would allow them to monetise resources along their joint border and create an economic free zone that will link the region and South America.

Santokhi said Suriname is open to doing business in all streams of the oil and gas sector that will improve its economy.

The 2023 International Energy Conference and Expo will take place over the next four days under the theme “Harnessing Energy for Development”.

A host of local and international players in the oil and gas sector will speak at the conference.