Editing Economy of Trinidad and Tobago (section)

==Energy sector==
Trinidad and Tobago has been involved in the petroleum sector for over one hundred years. There has been considerable oil and gas production on land and in shallow water, with cumulative production totaling over three billion barrels of oil. Trinidad and Tobago is the largest oil and natural gas producer in the Caribbean. In the 1990s, the hydrocarbon sector moved from producing mainly oil to producing mostly natural gas. According to the EIA, in 2013, proven crude oil reserves were estimated at 728 million barrels, while [[Proven reserves#More terms|3P]] natural gas reserves were 25.24&nbsp;trillion cubic feet (Tcf) (Ryder Scott Audit 2012).

Trinidad and Tobago houses one of the largest natural gas processing facilities in the Western Hemisphere. The Phoenix Park Gas Processors Limited (PPGPL) natural gas liquids (NGL) complex is located in the Port of [[Couva|Savonetta]]. It has a processing capacity of almost 2&nbsp;billion cubic feet (Bcf) per day and an output capacity of 70,000 barrels per day (bbl/d) of NGL. After processing the gas is then transferred to the various power generators (POWERGEN, TGU, or Trinity Power) for generation of electricity and to the petrochemical plants for use as a feedstock.

The electricity sector is fueled entirely by natural gas. Trinidad Generation Unlimited power plant, the second combined cycle plant in the country, with a generating capacity of 720MW, was opened on 31 October 2013.
 
With 11 [[ammonia]] plants and seven [[methanol]] plants, Trinidad and Tobago was the world's largest exporter of ammonia and the second largest exporter of methanol in 2013, according to IHS Global Insight.<ref>{{cite web | url=http://www.energy.gov.tt/our-business/oil-and-gas-industry/ | title=Oil and Gas industry – Overview | publisher=Energy.gov.tt | access-date=2016-08-15}}</ref> Overall production and export for ammonia, methanol, [[urea]], and [[UAN]] decreased to 428,240 metric tonnes (MT) in 2013 from 564,892 MT in 2012.
[[File:Offshore oil rig Trinidad.jpg|thumb|An oil platform off the coast of Trinidad.]]
The Ministry of Energy and Energy Affairs (MEEA) has encouraged investment in projects for "downstream" processing of petrochemicals, such as the manufacture of [[calcium chloride]] and [[dimethyl ether]] (DME). Such projects are expected to generate more local employment and more growth in local manufacturing than traditional petrochemical processing.

The energy sector accounts for around 45.0% of the country's GDP. The Central Bank predicted real GDP growth in Trinidad and Tobago of 2.6% in 2014, up from 1.6% in 2013, as the country's energy sector recovered from maintenance delays that reduced activity in the third quarter of 2013.

MEEA predicted that production of liquefied natural gas (LNG) would rise by 2.0% to 40.0bcm in 2014, following an estimated 1.5% drop in production in 2013. Production of petrochemicals was also expected to rebound, following an 8.0% drop in output in the third quarter of 2013, as several companies aligned their production schedules with the natural gas shortfall.<ref>{{cite web|url=http://www.energy.gov.tt/our-business/oil-and-gas-industry/|title=Ministry of Energy and Energy Affairs|access-date=11 June 2015}}</ref>