Plans for a USD 2 billion 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 million bpd 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 Co. of Trinidad and Tobago Ltd. Supporters of the new refinery state that it will not compete with Trinidad and Tobago’s only other existing refinery, a 160,000 bbl/day refinery at Point-a-Pierre, which is operated by state owned Petroleum Co. of Trinidad and Tobago Ltd. This refinery exports 85% of output mainly to the Caribbean region.