In this article, we discuss the top 5 natural gas-producing countries in the world. To read the detailed analysis of the recent events in the natural gas industry, skip to the Top 20 Natural Gas-Producing Countries in the World.
5. Canada
Production in 2021: 6435 billion cubic feet
Natural gas is one of the most important revenue generators for Canada and it is also one of the biggest energy sources for the country. In 2021, 36% of its energy demand was covered by natural gas. Canada is the biggest exporter of natural gas to the United States. In 2021, 99% of the USA’s natural gas imports were covered by Canada.
With 73 trillion cubic feet, Canada accounts for 1% of the global natural gas reserves.
4. China
Production in 2021: 7,486 billion cubic feet
China used to be the biggest importer of natural gas but it dropped down to the second spot in 2022 due to its zero-COVID policy and high prices at the spot market. However, according to Yaoyu Zhang, General Manager of Global LNG and New Energies at PetroChina International, the demand is expected to rise in 2023.
China is the fourth largest producer of natural gas. However, owing to its high population, the country’s natural gas production is not enough to cover its domestic needs and depends highly on imports.
3. Iran
Production in 2021: 8,767 billion cubic feet
Iran has the second largest natural gas reserves after Russia with 1200 trillion cubic feet as of December 2021. After the EU’s ban on Russian fuel imports in 2022, Iran offered to supply to Europe but demanded that the US economic sanctions against the country should be lifted.
In 2021, Iran’s natural gas production increased to 8,767 billion cubic feet from the prior year’s 8,644 billion cubic feet.
2. Russia
Production in 2021: 24,775 billion cubic feet
With 1,688 trillion cubic feet, Russia has the largest natural gas reserves in the world. In 2021, Russia supplied around 40% of EU countries’ natural gas. After the Russia-Ukraine war and the ban on Russian fuel imports, the numbers dropped to 17% by August 2022. Germany and the Netherlands could not uphold the bans as they both were the first and third biggest importers of Russian natural gas in the EU, respectively. Both countries have been highly dependent on Russian natural gas as most of the imports in these countries were through pipelines that were connected to Russia.
According to preliminary data published by Russia, the country’s gas production has declined by around 13% in 2022.
1. United States
Production in 2021: 34,518 billion cubic feet
The United States is the world’s largest oil and natural gas producer in the world and was also the biggest natural gas consumer in 2021 with over 30,665 billion cubic feet consumed. In 2022, the country’s liquified natural gas exports were around 10.6 billion cubic feet per day on average, representing a 9% increase from 2021 levels. The increase in exports was due to a decrease in Russian natural gas exports due to the bans on Russian fuel imports.
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