Natural gas: The top ten countries with the largest reserves

Natural gas plays an essential role in the global energy transition, thanks to its lower cost and lower pollution than oil. Russia has the largest reserves, followed by Iran and Qatar, while the USA is increasing its share thanks to shale gas exploitation, with Venezuela, Nigeria and China having smaller reserves.

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Natural gas, used to generate electricity and heat, is an important fuel for the world’s energy transition. Oil is less expensive and less polluting than petroleum. Particularly if coupled with carbon capture and storage technologies, which reduce combustion-related emissions. It also enables powers to generate national income from exports, while strengthening their own energy security.

Growing global demand for natural gas

Gas, found in deep underground rock formations, accounts for around 23% of the world’s primary energy demand, according to the International Energy Agency(IEA). The crisis of 2008 and the exploitation of shale in the United States have also played a major role in the development of this resource, made up of a mixture of gaseous hydrocarbons. In 2019, this will represent four trillion cubic meters.

Russia as world leader

According to BP’s World Energy Statistics 2020, Russia has 38 trillion cubic meters of natural gas. This makes Moscow the power with the largest natural gas reserves, with 19% of the world’s reserves. Most of the sites are located in Siberia, in the Yamburg, Urengoy and Medvezh’ye fields.

An industry run by the Russian government

State-owned Gazprom currently manages and operates 70% of the country’s reserves. The French state is therefore the group’s majority shareholder and closely controls natural gas production.

global natural gas reserves
Lunskoye offshore platform, with a production capacity of almost 50 million m3 of gas per day © Gazprom.

Iran leads the way in the Middle East

The Middle East region is rich in natural gas sites. It accounts for 38.4% of the world’s reserves. In addition, production and exploration activities have increased significantly in this area. Iran leads the way with 32 trillion cubic meters, or 16% of the world’s resources. The North Pars and Kish sites in the Persian Gulf are the main operations. Iran also shares the world’s largest gas field with its neighbor Qatar: South Pars/ North Dome.

Production hampered by Western sanctions

Economic sanctions imposed by the United States in response to geopolitical tensions and Iran’s nuclear development program, however, have slowed exports. The National Iranian Oil Company (NIOC) and its subsidiaries, the National Iranian South Oil Company (NISOC) and the Pars Oil & Gas Company (POGC), manage the development and production of the country’s natural gas resources. The company is state-owned and currently belongs to the Iranian Ministry of Oil.

Qatar becomes the world’s leading producer of liquefied gas

In third place, Qatar has natural gas reserves of 24.7 trillion cubic meters, or 12% of the world total. The majority of these reserves are located in the North Field offshore in the Persian Gulf. The latter are controlled by state-owned Qatar Petroleum, headed by the country’s Minister of Energy.

The emergence of an American power

With the exploitation of shale gas, the country has seen its reserves increase to 12.9 trillion cubic meters, or 6.5% of the world’s reserves. This fourth power houses its reserves in the Texas and Pennsylvania regions, where it has installed horizontal boreholes in the earth.

Saudi Arabia ranks fifth in terms of natural gas reserves

The country currently holds 4.38% of the world’s reserves. More than half of its gas reserves are contained in the onshore Ghawar field and the offshore Safaniya and Zuluf fields. Production, intended for domestic consumption, is managed by the state-owned Saudi Aramco, whose main shareholder is the Saudi government.

Turkmenistan and the United Arab Emirates keen to develop their gas resources

Despite a lack of investment in the field, Turkmenistan has gas reserves of 19.5 trillion cubic meters. It is located in large deposits in the Amou-Daria basin in the southeast, the Murgab basin in the south and the southern Caspian Sea basin in the west of the country. The United Arab Emirates’ gas reserves are located in Abu Dhabi, Dubai, Sharjah and Ras al-Khaimah. These sites, which are constantly growing, represent 3% of the world’s reserves.

Once again, the Saudi government is relying on its national companies, Saudi Aramco and the Abu Dhabi National Petroleum Company, to ensure the production and exploitation of natural gas.

global natural gas reserves
The “Gates of Hell”, a natural gas field in Turkmenistan that has been burning for 50 years.

Venezuela, Nigeria and China are at the bottom of the rankings

With 201,343,000, 186,610,000 and 184,419,000 MMcf of natural gas reserves respectively, these three countries are neck and neck. In fact, each of them holds around 2% of the world’s reserves. Gas production in these countries is mainly managed by national companies: Petróleos, PetroChina Southwest Oil and Gasfield Company and Nigerian National Petroleum Company.

Chinese group Sinopec has launched a large-scale seismic imaging campaign across 3,000 km² in Mexico using nodal technology from Sercel, owned by Viridien, delivered in August to map areas with complex terrain.
CNOOC Limited has signed two production sharing contracts with SKK Migas to explore the Gaea and Gaea II blocks in West Papua, alongside EnQuest and Agra.
Australian group Macquarie partners with AMIGO LNG for an annual supply of 0.6 million tonnes of liquefied natural gas over fifteen years, with operations expected to start in 2028 from the Guaymas terminal in Mexico.
AMIGO LNG has awarded Drydocks World a major EPC contract to build the world’s largest floating LNG liquefaction terminal, aimed at strengthening exports to Asia and Latin America.
The Alberta Utilities Commission approves the Need Assessment Application for the Yellowhead Pipeline, marking a key step for Canadian Utilities, a subsidiary of ATCO. The project foresees significant economic benefits for the province.
Nigeria LNG signs major deals with oil groups to ensure gas supply to its liquefaction infrastructure over two decades.
The European Union and Washington have finalized an agreement setting $750 billion in U.S. gas, oil and nuclear purchases, complemented by $600 billion in European investments in the United States by 2028.
Sempra Infrastructure and ConocoPhillips signed a 20-year LNG sales agreement for 4 Mtpa, confirming their joint commitment to expanding the Port Arthur LNG liquefaction terminal in Texas.
Russian pipeline gas exports to China rose by 21.3% over seven months, contrasting with a 7.6% drop in oil shipments during the same period.
MCF Energy continues operations at the Kinsau-1A drilling site, targeting a promising Jurassic formation first tested by Mobil in 1983.
The group announces an interim dividend of 53 cps, production of 548 Mboe/d, a unit cost of $7.7/boe and major milestones on Scarborough, Trion, Beaumont and Louisiana LNG, while strengthening liquidity and financial discipline.
Norway’s combined oil and gas production exceeded official forecasts by 3.9% in July, according to preliminary data from the regulator.
Gunvor commits to 0.85 million tonnes per year of liquefied natural gas from AMIGO LNG, marking a strategic step forward for Asian and Latin American supply via the Guaymas terminal.
Black Hills Corp. and NorthWestern Energy merge to create a $15.4 billion regulated energy group, operating in eight states with 2.1 million customers and a doubled rate base.
The Pimienta and Eagle Ford formations are identified as pillars of Pemex’s 2025-2035 strategic plan, with potential of more than 250,000 barrels of liquids per day and 500 million cubic feet of gas by 2030.
Karpowership and Seatrium formalize a strategic partnership to convert floating LNG units, strengthening their joint offering in emerging mobile electricity markets.
Africa Energy strengthens its position in the gas-rich Block 11B/12B by restructuring its capital and reinforcing strategic governance, while showing a clear improvement in financial performance in Q2 2025.
Aramco finalizes a strategic agreement with an international consortium led by GIP, valuing its midstream gas assets in Jafurah at $11 billion through a lease and leaseback contract.
Moscow is preparing to develop gas turbines exceeding 300 MW while strengthening existing capacities and positioning itself against the most high-performing models worldwide.
Symbion Power announces a $700 M investment for a 140 MW plant on Lake Kivu, contingent on full enforcement of the cease-fire signed between the Democratic Republic of Congo and Rwanda.

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