10-09-02 Plans for a $ 2 bn export refinery with capacity of 224,000 bpd have been approved by the government of Trinidad and Tobago. The refinery would have a 17.4 mm barrel terminal and port facilities and has a target completion date of 2005.
Natural gas feedstock for the refinery would be supplied by the state owned National Gas of Trinidad and Tobago.

Supporters of the new refinery state that it will not compete with Trinidad and Tobagos only other existing refinery, a 160,000 bpd refinery at Point-a-Pierre, which is operated by state owned Petroleum of Trinidad and Tobago.
This refinery exports 85 % of output mainly to the Caribbean region.