Top 10 natural gas producers
The United States, Russia and Iran are ranked as the world’s leading producers of natural gas in 2022.
With 978.6 billion cubic meters, the United States ranks first, followed by Russia (618.4 billion) and Iran (259.4 billion).
According to Exxon Mobil, natural gas is a versatile, practical, low-emission fuel for a wide variety of applications, and is expected to grow more than any type of primary energy between 2021 and 2050, meeting about 40% of the growth in global energy demand.
At the same time, global demand for natural gas is projected to increase by nearly 25% between 2021 and 2050, with about two-thirds of that increase coming from the Asia Pacific region.
Significant growth in unconventional gas supply (natural gas found in shale and other tight rock formations) will help meet these needs.
In total, about 50% of the growth in natural gas supply is expected to come from unconventional sources.
Natural gas
Other major producers of this energy in 2022 are: China (221.8 billion cubic meters), Canada (185 billion), Qatar (178.4 billion), Australia (152.8 billion), Norway (122.8 billion), Saudi Arabia (120.4 billion) and Algeria (98.2 billion).
Exxon Mobil predicted that conventionally produced natural gas will continue to be the cornerstone of global supply, satisfying around two thirds of world demand in 2050.
In parallel, LNG trade will expand significantly, meeting about 50% of the increase in global demand growth. Much of this supply would help meet growing demand in Asia Pacific.
Natural gas supplies about one-third of U.S. primary energy consumption, with its main uses being heating and electricity generation.
Its prices are effectively determined by the NYMEX, ICE and over-the-counter markets. Prices on the NYMEX, CME, ICE and over-the-counter markets generally reflect the national balance of natural gas supply and demand, but are also significantly influenced from time to time by other events.
