According to Statista, global natural gas production in 2023 declined from 4.09 trillion cubic meters in 2022 to 4.08 trillion cubic meters. The United States remains the world’s top natural gas producer, with a 4% increase in natural gas production in 2023. However, due to the impact of the Russia-Ukraine war, Russia’s natural gas production decreased by 16% last year. Here is a summary of the top ten natural gas producing countries globally, according to data from Statista:
Production: 1.03 trillion cubic meters
In 2023, the United States remained the largest natural gas producer globally, accounting for nearly a quarter of the global natural gas production. With the rising cost of coal and advancements in extraction technologies such as horizontal drilling and hydraulic fracturing, the US production has increased by over 350 billion cubic meters over the past decade. The US is also the largest consumer of natural gas globally, with last year’s natural gas demand reaching 881 billion cubic meters, primarily used for residential heating and power generation. According to reports from the US Energy Information Administration, the US natural gas production is expected to continue to rise due to increasing international demand for liquefied natural gas.
Production: 699 billion cubic meters
As the second-largest natural gas exporter and producer globally, Russia holds the largest known natural gas reserves in the world. Gazprom, the Russian natural gas industry giant, owns 16.3% of the global natural gas reserves. Historically, Russia’s production has been concentrated in West Siberia, but investments in the past decade have shifted towards the Yamal Peninsula, East and West Siberia, the Far East, and the Arctic coastal areas. According to Reuters, the refusal of European countries to accept Russian natural gas products led to a 41% decrease in the revenues of Russian producers in the first three quarters of 2023.
Production: 244 billion cubic meters
Iran’s natural gas production accounted for approximately 6% of the global production in the past year, ranking second globally in terms of natural gas reserves. However, Iran’s natural gas infrastructure lags far behind the top two natural gas producing countries, resulting in a production level only one-third of Russia’s and one-fourth of the United States’. Over the past decade, Iran’s natural gas production has doubled, making it the largest producer in the Middle East. Iran’s Petroleum Minister, Javad Owji, stated that Iran plans to increase its production capacity by 30% in the next five years through an $80 billion investment in gas fields. In 2023, Turkey and Iraq were the primary importers of Iran’s natural gas.
Production: 219 billion cubic meters
China’s natural gas production nearly doubled over the past decade, but still, almost half of the demand needs to be met through imports. Australia, Turkmenistan, the United States, Malaysia, Russia, and Qatar are among the major natural gas suppliers to China. According to a report from the US Energy Information Administration, China’s 14th Five-Year Plan (2021-2025) has set a target of 22.3 billion cubic feet per day for domestic natural gas production by 2025, representing an increase of 3 billion cubic feet per day from the 2021 domestic production level.
Production: 205 billion cubic meters
Canada currently holds 83 trillion cubic feet of natural gas reserves, with the majority of the production coming from the Western Canadian Sedimentary Basin (WCSB). Additionally, significant natural gas reserves are located in offshore fields near Newfoundland and Nova Scotia, the Arctic region, and the Pacific coast. In 2022, 99% of all the natural gas imports to the United States came from Canada. According to the latest data from the Canadian government, Canada’s natural gas production exceeded 18 billion cubic feet per day for 8 months out of the whole year in 2023.
Production: 170 billion cubic meters
Qatar holds the third-largest proven natural gas reserves globally, with the majority located in the world’s largest North Field gas field, which it shares with Iran. As of October 2023, Qatar remains the third-largest natural gas exporting country globally. In recent years, Qatar has actively taken steps to further utilize its natural gas resources to expand its influence in the international natural gas market. According to Statista’s report, the state-owned enterprise Qatar Petroleum is seeking to increase its market share in liquefied natural gas exports to compete with Russia’s liquefied natural gas shipments.
Production: 162 billion cubic meters
Australia’s natural gas production has increased by 113 billion cubic meters since 2009. Over the past decade, with several new production facilities coming into operation, Australia’s liquefied natural gas exports have experienced exponential growth. Currently, Australia possesses the second-largest operational liquefied natural gas export capacity in the world. At the end of 2023, Australia’s major energy company, Santos, indicated an expected decline in natural gas production for 2024, as the nearby Santos offshore gas field in the Timor Sea is nearing depletion.
Production: 128 billion cubic meters
Last year, Norway replaced Russia as the primary supplier to the European natural gas market. It was reported that in 2023, Norway allegedly accounted for 30.3% of the European Union’s natural gas supply. In mid-2023, the Norwegian government approved 19 petroleum and natural gas extraction projects. At the beginning of 2024, there were concerns about the potential impact of the Climate Change Committee’s recommendation to suspend new licenses on Norway’s oil and gas industry, as the government needed to decide on climate strategy. However, in May, the government issued licenses for 37 new blocks, emphasizing the importance of the oil and gas industry for Norway and Europe.
Production: 1050 billion cubic meters
Saudi Arabia’s natural gas production has surged by over 10% in the past five years, reaching a record 1050 billion cubic meters in 2023. The production growth is largely attributed to increased development of independent gas wells. The state-owned company, Saudi Aramco, has already awarded development contracts to the energy companies for the Jafurah, the country’s largest unconventional gas field. Currently, Saudi Arabia does not export natural gas, but the government plans to commence natural gas exports by 2030. At the end of 2023, Saudi Arabia began investing in the liquefied natural gas market. Saudi Aramco acquired shares of MidOcean Energy, which will acquire interests in four liquefied natural gas projects in Australia. In July 2024, Saudi Aramco awarded a contract worth $12.6 billion to expand the production capacity of the Jafurah field.
Production: 1020 billion cubic meters
Algeria holds the world’s fifth-largest liquefied natural gas export capacity. Despite a 10.6% decline in natural gas exports in 2022 compared to 2021, the exports increased by 24% from 2020. In 2022, nearly 85% of the country’s exports were used to meet Europe’s natural gas demand. Last year, Italy signed an agreement with Algeria to increase the import of natural gas from this North African country. From 2023 to 2028, the Algerian government expects an annual 1.4% increase in its natural gas production.
