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Natural gas reserves
2025: Russia, Iran and Qatar lead in proven gas reserves
Proved natural gas reserves (km3), according to Bloomberg data for February 2025:
Russia: 47,798
Iran: 33 980
Qatar: 23,871
Saudi Arabia: 15,910
UNITED STATES: 13,167
Turkmenistan: 11,326
China: 6,654
UAE: 6,088
Nigeria: 5,748
Venezuela: 5,663
Algeria: 4,502
Iraq: 3,738
2018
Liquefied natural gas (LNG)
Main Article: Liquefied Natural Gas (LNG)
Total Production
2024: Gas production in CIS countries
In 2024, the CIS countries retained a significant role in global gas production, but the indicators demonstrate multidirectional dynamics. Russia remains the absolute leader of the region, where production amounted to 682 billion cubic meters (+ 7% by 2023). In April 2025, TAdviser prepared an infographic on natural gas production volumes in the CIS countries.
In 2024, Turkmenistan ranked second with 77.6 billion cubic meters, despite a 3.7% decrease in production. Kazakhstan and Azerbaijan showed moderate but stable growth, strengthening their positions in international energy markets. Uzbekistan showed negative dynamics
Global natural gas consumption in 2024 reached a record level of 4 trillion 170 billion cubic meters. This is stated in the new gas market report for 2025 of the Forum of Gas Exporting Countries (GECF). According to the report, global demand for gas grew by 2.5% compared to the previous year, which is equivalent to an increase of 100 billion cubic meters. This is one of the fastest growth rates in the last decade, driven by a combination of factors ranging from economic growth and urbanization to technological change and climate conditions.
The main contribution to the growth of global gas consumption was made by the Asia-Pacific region, which accounted for 60% of the total increase.
China is especially distinguished, where gas consumption increased by 33 billion cubic meters and reached 430 billion. Also, the United States and Russia made a significant contribution - 20 billion cubic meters each.
At the same time, in Latin America, the Caribbean and Africa, growth was limited, and in Europe, after a two-year decline, consumption levels stabilized.
2023: 0.8% increase in gas production to 4.05 trillion cubic meters
In 2023, gas production on a global scale increased by only 0.8% - to 4.05 trillion cubic meters. For comparison, a year earlier, the figure was up to 4.02 trillion cubic meters. Such data are provided in the report of the Forum of Gas Exporting Countries (FSEG), released in mid-February 2024.
The study says the need for gas will continue to grow in Asian countries. In particular, in China, the demand for pipeline and liquefied natural gas (LNG) in December 2023 reached a historic maximum of 38 billion cubic meters: this is 14% more compared to December 2022. In India, gas consumption grew throughout 2023 and in December amounted to 5.9 billion cubic meters, which is 24% more than a year by year.
Gas production in Russia in 2022-2023. decreased against the background of falling exports of pipeline gas to the European Union. In 2023, the figure decreased by 5.5% compared to the previous year - to 636.7 billion cubic meters. It is said that in 2023, gas consumption in the EU and the UK decreased by 9% compared to 2022 and amounted to 380.85 billion cubic meters.
The study notes that the period of high gas prices in the European Union began in the fall of 2021. This is due to problems with filling underground storage facilities after a record gas withdrawal in the winter of 2020-2021. In addition, there was an energy shortage due to a decrease in wind power generation amid calm weather. By December 2021, spot gas prices in the EU reached an all-time high, exceeding $2,200 per 1000 cubic meters, and in March 2022 set a new record of $3,900 per 1000 cubic meters.
It is expected that in 2024 gas production in the world will grow by 3% compared to 2023 - up to 4.16 trillion cubic meters. The strongest, according to the FSEG forecast, production will increase in African countries - by 5% to 264 billion cubic meters - and the CIS (including Russia) - by 4% to 817 billion cubic meters. In North America, this figure will be 1.31 trillion cubic meters (+ 2%), in the Middle East - 723 billion cubic meters (+ 3[1]
Major Gas Trading Routes
Global Gas Production and Export
Gas production and export in Russia
Gas production in Ukraine
Main article: Gas market in Ukraine
Saudi Arabian gas production
Main article: Oil and gas production in Saudi Arabia
Qatar gas production
For May 2020, Qatar - the world's largest LNG producer - does not intend to cut supplies due to the COVID-19 coronavirus pandemic and plans to significantly increase capacity in the coming years, said Minister of Energy and Chief Executive Officer of state-owned Qatar Petroleum Saad Sherida al-Kaabi.
Qatar Petroleum plans to increase production 1.5 times by 2025, to 110 million tons, and almost twice - by 2027 (up to 126 million tons). To do this, the company launches the North Field field, where 80 exploration wells have already been drilled. Contracts for the construction of 100 LNG tankers have been concluded for the new gas.
Gas production in Europe
Main article: Oil and gas production in Europe
Gas production in Turkey
Main article: Oil and gas production in Turkey
Gas production in Mauritania
In October 2019, the American Kosmos Energy opened one of the largest natural gas deposits on the Mauritanian shelf.
The American oil and gas company claims that the reserves of the field amount to approximately 1.5 trillion cubic meters of gas. See Mauritania for details.
Mozambique: Plans for Gas Production and LNG Infrastructure
On October 8, 2019, it was announced that US energy giant Exxon Mobil would invest in a gas production project in Mozambique.
According to the project, the northeast coast of Mozambique will create infrastructure for the production and sale of LNG. According to Exxon estimates, the development of deposits will cost $30 billion.
The gas fields are located in the province of Kabu Delgadu, where extremist groups have been active for the past two years.
Equatorial Guinea
In November 2019, the Italian company Saipem received a contract in Equatorial Guinea worth $100 million for the construction of a 70-kilometer underwater pipeline connecting the Alen field with the Punta Europa oil terminal.
Gas supplies for the project being undertaken by Noble Energy are expected to begin in early 2021, Oil Minister Gabriel Obiang Lima said.
The pipeline will serve offshore gas fields and have a capacity of 27 million cubic meters of gas per day.
The largest companies in the oil and gas market
See also
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