In this piece, we are going to discuss 20 Biggest Natural Gas Companies in Australia, 2024. If you wish to skip our detailed discussion on the Natural Gas industry, you can go directly to 5 Biggest Natural Gas Companies in Australia, 2024.
Lets dive into the natural gas market landscape in Australia and explore. The global market for natural gas is reaching a high of $310.5 trillion in 2022 – the quest for sustainable energy solutions being the main driver.
The release of the forecast by the International Energy Agency shows a trend of increase for the demand of global natural gas. This is especially for mature markets where their consumption is slowly easing. The Gas Medium term market report for 2023 has predicted a 1.6% yearly growth between 2022 and 2026, which is slower than the previous years, where it was 2.5% for the years through 2017 to 2021. It seems like the invasion of Ukraine by Russia has put brakes on the growth of the global market for natural gas. It is predicted that mature markets like Asia Pacific, Europe, and North America are going to see a 1% annual decrease in gas demand until 2026, as they move towards renewable energy resources.
Now we move onto the United States, where the production of natural gas is increasing and doubling from 2005 to 2022. This puts the United States ahead of other countries as one of the top natural gas producers on a global level. For 2022, the U.S. hit a high in the production of natural gas, producing 94.7 billion cubic feet per day, which shows a 3.6% increase compared to the previous year. This put the U.S. on the global map with a market share of around 24.2%, ahead of both Russia and Iran. In the U.S., Exxon Mobil Corporation (NYSE:XOM) and Chevron Corporation (NYSE:CVX) are the top two natural gas companies.
Exxon Mobil Corporation (NYSE:XOM), which was established in 1999 as a merger of Pacific Oil Company and Standard Oil company, is involved in exploration to research for the petroleum industry. Exxon Mobil Corporation (NYSE:XOM), for the quarter ending on 31st December, 2023, showed a net income of $7.63 billion, which is a 40% decrease from $12.75 billion as compared to the corresponding quarter in 2022.
On the other hand, Chevron Corporation (NYSE:CVX), recorded a 65% decrease in their net income, from $6.4 billion to $2.3 billion, for the quarter ending on 31st December 2023.
Now, looking at Australia, their production of natural gas is mainly driven by the growth of the LNG industry along the east and west coasts, with Woodside Energy Group Ltd, Santos Ltd, and Origin Energy Limited being the 3 biggest natural gas producers in the country. Most of the gas is being exported and it is also being supplied to local consumers. For the period 2018-19, a staggering 74% of the natural gas produced by Australia was exported. Currently, Australia is the top exporter of LNG, alongside Qatar. Hence, we will be looking at the 20 Biggest Natural Gas Companies in Australia for 2024.
A gas pump at a convenience store with a wide variety of merchandise in the background.
Methodology
For our list of the 20 Biggest Natural Gas Companies in Australia for 2024, we compiled data based on the market capitalization by these 20 companies. Market capitalization data has been sourced from Yahoo Finance. The market capitalization figures in Australian Dollars have been converted to US Dollars using the exchange rate provided by X-Rates, as of March 24, 2024. The exchange rate used for conversion is 1 AUD = 0.65 USD. With this, we present to you a list of 20 Biggest Natural Gas Companies in Australia for 2024.
By the way, Insider Monkey is an investing website that tracks the movements of corporate insiders and hedge funds. By using a similar consensus approach, we identify the best stock picks of more than 900 hedge funds investing in US stocks. The top 10 consensus stock picks of hedge funds outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here). Whether you are a beginner investor or professional one looking for the best stocks to buy, you can benefit from the wisdom of hedge funds and corporate insiders.
20. TMK Energy Limited (ASX:TMK)
Market Cap: $15.96 million
First company for the 20 Biggest Natural Gas Companies in Australia for 2024 is TMK Energy Limited (ASX:TMK), which is a gas exploration company in Australia, working on Mongolia’s natural gas resources.
TMK Energy Limited (ASX:TMK), has secured significant funding only recently, of approximately $2.5 million (pre-costs). This boost in the capital is supposed to help them further the gas flow rates at the Nariin Sukhait project, which will help TMK Energy Limited (ASX:TMK) increase the overall production for the project.
19. State GAS Limited (ASX:GAS)
Market Cap: $22.34 million
Next on the list of 20 Biggest Natural Gas Companies in Australia for 2024 is State GAS Limited (ASX:GAS), which focuses on the exploration and development of gas in Australia. State GAS Limited’s (ASX:GAS) headquarter is in Queensland and it focuses on the Bowen Basin located in Central Queensland.
State GAS Limited (ASX:GAS), recently released its financial report for the half year, ending on December 31, 2023. It was reported that State GAS limited made a net loss of $0.94 million, as compared to the previous year where they recorded a loss of $0.28 million.
18. Omega Oil & Gas Limited (ASX:OMA)
Market Cap: $24.97 million
Moving on the list of 20 Biggest Natural Gas Companies in Australia for 2024 with Omega Oil & Gas Limited (ASX:OMA), which focuses on the exploration of oil and gas in Australia. Omega Oil & Gas Limited (ASX:OMA) is involved in several projects including ATP 2037, ATP 2038, and PL 17. The ATP 2037 and ATP 2038 are placed intricately about 30 kilometers west of Tara in Queensland’s Western Downs Region.
The company announced a significant move recently for the drilling activities conducted in Queensland’s Surat Basin. Omega Oil & Gas Limited (ASX:OMA) explored 293 meters of gas shows as they were drilling the Canyon-2 well. The shows were seen to be across the Kianga Formation for its complete length of 221 meter.
17. Pure Hydrogen Corporation Limited (ASX:PH2)
Market Cap: $25.77 million
Pure Hydrogen Corporation Limited (ASX: PH2), an Australian company headquartered in Sydney, came into being as a result of the merger between Strata-X Energy Limited and Real Energy Corporation Limited in 2021. Pure Hydrogen Corporation Limited (ASX: PH2) ranks 17th on our list of 20 Biggest Natural Gas Companies in Australia for 2024, and is focused on the advancement in the technology of Hydrogen and Fuel Cell in Australia.
Pure Hydrogen Corporation Limited (ASX: PH2) released their financial reports for the half year ending on December 31, 2023. They revealed a net loss of $1.92 million for this quarter, a stark change from the profit of $4.28 million shown in the prior period.
16. Tlou Energy Limited (ASX:TOU)
Market Cap: $29.46 million
Tlou Energy Limited (ASX:TOU) is a Botswana-based company, which focuses on projects like hydrogen, solar power and primarily Coalbed Methane (CBM) gas-fired power. They aim to provide efficient energy sources to the population of Sub-Saharan Africa.
Tlou Energy Limited (ASX:TOU) recently revealed their financials, for the 6-month period ending on December 31, 2023. Tlou Energy Limited (ASX:TOU) showed an improvement in terms of net loss, which went down to $1.19 million from $1.47 million as compared to the same period during last year.
15. Energy World Corporation Limited (ASX:EWC)
Market Cap: $36.11 million
Energy World Corporation Limited (ASX: EWC) is leading in the production and selling of energy in different countries, and are looking to work on LNG projects. Energy World Corporation Limited (ASX: EWC) is looking to focus and excel in modular LNG setups, as well as provision of power and gas in the Asian Pacific region.
Energy World Corporation Limited (ASX: EWC) revealed a downward trend in their sales for the 6-month period ending on December 31, 2023 as compared to the previous year. Their sales dropped to $17.34 million from $28.13 million.
14. Calima Energy Limited (ASX:CE1)
Market Cap: $50.96 million
Calima Energy Limited (ASX:CE1), ranked 14th on our list of 20 Biggest Natural Gas Companies in Australia for 2024, invests in the exploration and production of natural gas. The company specially focuses on projects like Brooks, Thorsby and Montney.
Calima Energy Limited (ASX:CE1) recently finalized an agreement to see its ownership in its Canadian subsidiary, Blackspur Oil Corporation, transferring to Astara Energy Corporation. This deal was done in exchange for the Calima Energy Limited’s (ASX:CE1) production assets, Brooks and Thorsby, against a cash payment of nearly $54.47 million. It is to be executed no later than 30 March, 2024.
13. Byron Energy Limited (ASX:BYE)
Market Cap: $57.64 million
Byron Energy Limited (ASX:BYE), is an Australian company which focuses on the exploration and production of Oil and Natural Gas. Byron Energy Limited (ASX:BYE) operates and possesses hefty interests in several blocks in the Gulf of Mexico, with primary operations located off the coast of Louisiana in the shallow waters of the Gulf of Mexico.
Byron Energy Limited (ASX:BYE) recently announced their figures for production and sales. Their production was around 1.4 billion cubic feet for gas and 575,000 barrels of oil for the year ending on June 30, 2023. This produced net sales revenue of $53 million.
12. New Zealand Oil & Gas Limited (ASX:NZO)
Market Cap: $63.48 million
New Zealand Oil & Gas Limited’s (ASX:NZO) is an ASX listed company which has exploration permits, licenses and investments. The company is focused on producing and exploring oil and gas. New Zealand Oil & Gas Limited’s (ASX:NZO), headquartered in Wellington, operates in different countries.
New Zealand Oil & Gas Limited’s (ASX:NZO) showed a boom in their sales for the second half of 2023 as compared to the preceding year. Their sales are now up to $30.78 million as compared to $27.26 million.
11. HAZER Group Limited (ASX:HZR)
Market Cap: $72.78 million
HAZER Group Limited (ASX:HZR) is laser focused on producing low-emission hydrogen and graphite. They are working on researching and developing natural gas in Australia.
HAZER Group Limited (ASX:HZR) seems to be doing well for themselves as compared to the previous year. HAZER Group Limited (ASX:HZR) showed a bump in their revenue, which is up to $0.95 million for the second half of 2023, where it was $0.61 million for the same period in 2022.
10. Renergen Limited (ASX:RLT)
Market Cap: $88.92 million
Renergen Limited (ASX:RLT) a South African company which also acts as an investment holding company, looks to produce LNG and liquid helium. Renergen Limited (ASX:RLT) put a special focus on investing in green projects.
Renergen Limited (ASX:RLT) bolstered their sales as compared to previous year, where it stands at $0.67 million as of February 28, 2023, which shows an almost 21% increase from the preceding year.
9. Empire Energy Group Limited (ASX:EEG)
Market Cap: $90.71 million
Empire Energy Group Limited (ASX: EEG) headed from Sydney, Australia, possesses multiple assets, which they used to work through the oil and gas industry. The company owns and operates these assets in Northern Territory’s Beetaloo Sub-basin and central trough of the McArthur Basin, giving Empire Energy Group Limited (ASX: EEG) the ability to stand tall in the region.
Empire Energy Group Limited (ASX: EEG) downfalled in terms of their sales, reporting a figure of $2.11 million for the first half of 2023, which shows a decrease of over 51% as compared to the same period during the previous year.
8. Carnarvon Energy Limited (ASX:CVN)
Market Cap: $222.56 million
Carnarvon Energy Limited (ASX:CVN), a company spearheaded from Western Australia, is hyper focused on producing and exploring oil and gas in Australia.
Carnarvon Energy Limited (ASX:CVN) reported a net loss of $2.62 million, which shows that the company’s position has dwindled, since they reported a net loss of $2.28 million for the previous year.
7. Tamboran Resources Corporation (ASX:TBN)
Market Cap: $228.2 million
Tamboran Resources Corporation (ASX:TBN) is an ASX listed company, headquartered in Sydney, Australia. The company looks to advance the Net Zero CO2 energy transition. Tamboran Resources Corporation (ASX:TBN) is eager to promote greener energy sources.
Tamboran Resources Corporation (ASX:TBN) recently announced their financials for the 6-month period ending on December 31, 2023, where they reported a net loss of $9.22 million, an improvement over $11.19 million, reported for the same period last year.
6. Strike Energy Limited (ASX:STX)
Market Cap: $484.82 million
Strike Energy Limited (ASX:STX) is an ASX listed, Western Australian company. They look to develop and explore oil and gas resources in Australia.
Strike Energy Limited (ASX:STX) reported a net loss of $6.13 million for the half year ending on December 31, 2023. This shows an improvement from the net loss of $7.15 million, Strike Energy Limited (ASX:STX) reported for the same period in the previous year.
This article discusses the 5 Biggest Natural Gas Companies in Australia for 2024. If you want to get detailed analysis on the Natural Gas sector, you can head on to 20 Biggest Natural Gas Companies in Australia for 2024.
5. Beach Energy Limited (ASX:BPT)
Market Cap: $2.56 billion
Beach Energy Limited (ASX:BPT) is an Australia-based oil and gas company who have a focal point to explore and produce oil and gas. The company has their front located in Adelaide, Australia.
Beach Energy Limited (ASX:BPT) flourished in the second half of 2023, where they reported sales of $622.27 million, which is up from $539.24 million, as Beach Energy Limited (ASX:BPT) announced for the same period during the previous year.
4. AGL Energy Limited (ASX:AGL)
Market Cap: $3.67 billion
AGL Energy Ltd (ASX:AGL) looks to serve its customers in the energy and telecom sectors. They are considered to be one of the industry giants since they have a large footprint in the energy industry in Australia.
AGL Energy Ltd (ASX:AGL) suffered a hit in the second half of 2023, as compared to the same period last year, since their sales took a hit and took a dip down to $4033.45 million from $5093.51 million.