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On the consumption aspect, demand grew 2.5 p.c — its quickest tempo in years — with Asia Pacific economies corresponding to China, Japan and India driving almost half the good points, whereas Europe noticed its first demand uptick since 2021.
“Pure gasoline continued to displace oil and oil merchandise in varied sectors, supported by insurance policies, laws and market dynamics,” the Worldwide Power Company’s (IEA) World Power Evaluate 2025 reads.
Learn on for a take a look at the highest 10 pure gas-producing international locations in 2024 primarily based on the newest knowledge from the Power Institute’s annual Statistical Evaluate of World Power.
1. United States
Manufacturing: 1.03 trillion cubic meters
The US is by far the most important producer of pure gasoline on the planet with manufacturing of 1.03 trillion cubic meters of pure gasoline in 2024, representing almost 1 / 4 of worldwide pure gasoline manufacturing.
Its output has elevated by greater than 300 billion cubic meters prior to now decade owing to the rising value of coal and developments in extraction expertise corresponding to horizontal drilling and hydraulic fracturing, also called fracking.
Along with being a significant pure gasoline producer, the US can be the most important client of the gasoline. In 2024, US demand for pure gasoline totaled 902.2 billion cubic meters, up from 2023’s 888.4 billion cubic meters, in response to the Power Institute.
In 2024, the US exported a file quantity of liquified pure gasoline (LNG) at 115.2 billion cubic meters, following a tenth consecutive yr of file manufacturing. Whereas US exports grew simply 0.4 p.c year-over-year, they’ve exploded during the last decade from 2015’s 700 million cubic meters.
Excessive worldwide demand and regular home consumption progress will preserve the US a web exporter of petroleum merchandise and pure gasoline via 2050. Regardless of the shift to renewable electrical energy era, US pure gasoline manufacturing is predicted to rise resulting from elevated worldwide demand for liquefied pure gasoline, in response to the US EIA’s Annual Power Outlook 2023.
In early 2025, in response to US tariff threats from new President Donald Trump, China slapped a 15 p.c tariff on US LNG imports. In accordance with the Monetary Press, the US accounted for about 6 p.c of China’s LNG consumption in 2024.
Pure gasoline is predicted to play a rising function within the US vitality combine via 2050, at the same time as oil and coal consumption decline, in response to S&P World Commodity Insights. Analysts level to coal-to-gas substitution as a key driver of the US transition, whereas scalability and price limitations proceed to gradual a direct leap from coal to renewables.
“By 2050, gasoline shall be the one fossil gasoline with a possible enhance within the vitality combine for the US, China, and India,” the S&P report notes.
2. Russia
Manufacturing: 629.9 billion cubic meters
The second largest exporter and producer of pure gasoline on the planet, Russia produced 629.9 billion cubic meters of pure gasoline in 2024. The nation’s state-owned vitality group Gazprom its its largest pure gasoline producer, with gasoline firm Novatek taking second place.
Russia additionally holds the largest-known pure gasoline reserves on the planet, at slightly below 20 p.c as of 2020.
“Traditionally, manufacturing was concentrated in West Siberia, however funding has shifted prior to now decade to Yamal and Jap Siberia and the Far East, in addition to the offshore Arctic,” in response to the Worldwide Power Company.
Europe’s rejection of Russian pure gasoline merchandise led to a 41 p.c decline in revenues for the nation’s producers within the first three quarters of 2023, reported Reuters.
Whereas Russia stays the world’s second largest pure gasoline producer and the second largest exporter of the gasoline, the EU is phasing out Russia-sourced pure gasoline by 2027 as a result of nation’s warfare on Ukraine. In June 2025 the EU launched a proposal for a authorized framework for conducting the 2027 aim.
EU imports of Russian pure gasoline have plunged by greater than two-thirds since 2020, falling from 14.7 to 4.4 billion cubic ft per day in 2024, the EIA reported. Moreover, the EU reported that Russia solely provided 14 p.c of its member international locations’ pure gasoline necessities in 2023, down from 45 p.c in 2021.
Regardless of the battle between Russia and Ukraine, the latter has remained a vital hall for Russian pure gasoline into the EU. In September 2024, Russian pure gasoline exports that traveled via Ukraine totaled 1.26 billion cubic meters.
To offset misplaced European demand, Russia has pivoted its vitality export commerce, with China and India propping up its pure gasoline export market. The nation has expanded gasoline exports eastward by way of the Energy of Siberia 1 pipeline, which has been working close to full capability since China’s phase got here on-line in late 2024. Plans for a second pipeline stay stalled, with Moscow and Beijing but to agree on phrases regardless of years of negotiations.
Russia can be set to produce Iran with pure gasoline after it signed a long-term pure gasoline provide deal in October 2024 through which Gazprom dedicated to supplying 109 billion cubic meters of gasoline to Iran yearly.
3. Iran
Manufacturing: 262.9 billion cubic meters
Iran, the third largest pure gas-producing nation and the most important within the Center East, produced 262.9 billion cubic meters of pure gasoline in 2024, representing about 6.4 p.c of worldwide output. The Center Jap nation ranks second by way of pure gasoline reserves.
Whereas its pure gasoline infrastructure is way behind the highest two pure gasoline producers, Iran has elevated its pure gasoline manufacturing considerably prior to now decade to develop into the Center East’s largest producer. Iran and Qatar share the world’s largest pure gasoline area. Iran’s portion is named South Pars and Qatar’s is North Dome.
Iran plans to spice up its manufacturing capability by 30 p.c inside 5 years, supported by an US$80 billion funding in its gasoline fields, in response to the nation’s Oil Minister Javad Owji. Nonetheless, Qatar’s enlargement of liquefied pure gasoline manufacturing in North Dome poses a problem to Iran’s output ambitions.
In mid-2025, Iran partially suspended gasoline output on the South Pars area after an Israeli airstrike broken one in every of its key processing items (Section 14). The strike shut down roughly 12 million cubic meters per day of gasoline manufacturing. Whereas manufacturing has reportedly resumed, it’s unclear if operations are at full capability.
Turkey and Iraq are main importers of Iranian pure gasoline, whereas Turkmenistan and Armenia have swap offers with Iran. Iran signed a long-term deal to import 109 billion cubic meters of gasoline from Russia yearly in late 2024, with Russia paying for development of the mandatory pipeline.
4. China
Manufacturing: 248.4 billion cubic meters
China’s pure gasoline manufacturing reached 248.4 billion cubic meters in 2024, an all-time file.
Lately, China’s authorities has incentivized the transition from coal to pure gasoline to cut back air air pollution and meet emissions targets. In its 14th 5-Yr Plan, the federal government set an annual pure gasoline manufacturing goal of 230 billion cubic meters by 2025, a aim the nation met two years early in 2023. Between 2014 and 2024, pure gasoline manufacturing in China grew by 89 p.c from 131.2 billion cubic meters.
China nonetheless depends on imports to fulfill about half of its demand. Australia, Turkmenistan, the US, Malaysia, Russia and Qatar are a few of its largest suppliers. Nonetheless, it has but to fulfill its pure gasoline storage goal of 55 billion to 60 billion cubic meters, with solely 26.7 billion cubic meters by the tip of 2024, S&P World stories.
Unconventional gasoline sources corresponding to shale, coal-bed methane and pure gasoline hydrates accounts for an estimated 43 p.c of China’s complete gasoline output.
Whereas home manufacturing has ticked greater, China’s LNG imports are transferring the wrong way. LNG imports fell by greater than 20 p.c in the course of the first half of 2025. Rising home and pipeline provide helps offset the decreased LNG inflows, with coverage and infrastructure efforts aimed toward shrinking reliance on imported gasoline.
Home demand has additionally pulled again barely, as China’s gasoline demand declined by roughly 1 p.c year-over-year in H1 2025.
5. Canada
Manufacturing: 194.2 billion cubic meters
Canada produced 194.2 billion cubic meters of pure gasoline in 2024, and the nation holds 83 trillion cubic ft of proved pure gasoline reserves. The Western Canadian Sedimentary Basin (WCSB) is the prime supply of nearly all of Canada’s pure gasoline manufacturing. Along with the WCSB, offshore fields close to Newfoundland and Nova Scotia, the Arctic area and the Pacific coast maintain important pure gasoline reserves.
Canada can be a prime pure gasoline exporter, relying solely on pipelines, with the US as its solely buying and selling companion. In 2022, 99 p.c of all US pure gasoline imports got here from its neighbor to the north.
In early 2025, US President Trump threatened to put 10 p.c tariffs on vitality imports from Canada, together with pure gasoline. The transfer has led to elevated calls for cross-Canada pipeline constructing and enlargement of commerce companions.
Seeking to broaden its commerce companion checklist, in late June, LNG Canada shipped its first liquefied pure gasoline cargo to Asia from its new export facility in Kitimat, British Columbia. The terminal is a three way partnership that features Indigenous, provincial and worldwide companions, and commenced operations with two liquefaction trains able to producing 14 million metric tons every year.
“With LNG Canada’s first cargo to Asia, Canada is exporting its vitality to dependable companions, diversifying commerce, and decreasing international emissions — all in partnership with Indigenous Peoples,” Prime Minister Mark Carney stated of the cargo. “By turning aspiration into motion, Canada can develop into the world’s main vitality superpower with the strongest economic system within the G7.”
His phrases reiterated the findings of a Could 2025 report from the Fraser Institute that outlined Canada’s skill to contribute to international greenhouse gasoline emissions discount via elevated LNG manufacturing and exports to international locations that at present depend on coal.
“As international locations like China and India proceed to burn coal for energy, Canadian LNG provides a lower-emission various with the potential for main international influence,” stated Elmira Aliakbari, director of pure useful resource research on the Fraser Institute and coauthor of the research.
6. Qatar
Manufacturing: 179.5 billion cubic meters
Qatar is the sixth largest pure gasoline producer and hosts the third largest proved pure gasoline reserves on the planet. Nearly all of its reserves are situated on the planet’s largest pure gasoline area, the offshore North Area, which it shares with Iran.
Qatar is the world’s second largest LNG exporter with 106.9 billion cubic meters in 2024, simply above third-place Australia’s 106.8 billion.
Lately, Qatar has made strikes to capitalize additional on its sources in an effort to broaden its footprint within the worldwide pure gasoline market. Statista stories that state-owned Qatar Petroleum is trying “to extend its LNG export market to compete with Russian LNG deliveries.”
To fulfil these aspirations Qatar is pushing forward with enlargement plans which can be projected to almost double the nation’s LNG output over the following few years, elevating manufacturing capability from 77 million metric tons every year to round 126 million by 2027.
Key to that progress is the North Area East enlargement, which is about to start partial output in mid-2026 as new LNG trains come on-line.
7. Australia
Manufacturing: 150.1 billion cubic meters
Australia produced 150.1 billion cubic meters of pure gasoline in 2024, a rise of 130 p.c in contrast its 65.3 billion cubic meters to in 2014. Almost all of Australia’s pure gasoline sources are situated within the North West Shelf, with three of the basins there offering feedstock to the nation’s largest gasoline fields, together with Higher Gorgon, North West Shelf Enterprise and Ichthys
Australia’s LNG exports have grown exponentially over the previous decade as a number of new manufacturing services have come on-line. The nation was the third largest exporter of LNG in 2024 at 106.8 billion cubic meters.
The federal authorities launched its Australia’s Future Gasoline Technique in Could 2024. The initiative focuses on making certain vitality safety and supporting the transition to net-zero by 2050 by boosting pure gasoline manufacturing. The federal government plan highlights the necessity for brand spanking new gasoline provides to forestall shortages by 2028 on the east coast and 2030 on the west coast.
Whereas supportive of the plan, Australia’s vitality producers have raised considerations of potential gasoline provide shortfalls by the tip of the last decade amid international market volatility. Meg O’Neill, chair of Australian Power Producers, highlighted that with out motion, Australia’s east and west coasts may face shortages by 2028 and 2030, respectively, which may drive up vitality costs.
In March 2025, Exxon Mobil (NYSE:XOM) and Woodside Power Group (ASX:WDS,NYSE:WDS) introduced a US$222 million funding to drill 5 new wells within the Gippsland Basin’s Turrum and Turrum North fields, aiming to increase Southeastern Australia’s gasoline output past 2030.
The Turrum Section 3 venture underscores efforts to maintain home provide from the getting older Bass Strait, at the same time as manufacturing declines. It follows different current approvals by the three way partnership to bolster Australia’s gasoline availability amid tightening forecasts.
8. Saudi Arabia
Manufacturing: 121.5 billion cubic meters
The eighth largest pure gas-producing nation, Saudi Arabia has seen its output enhance by 25 p.c since 2014, reaching a file 121.5 billion cubic meters in 2024.
Mordor Intelligence stories that this manufacturing progress was due largely to elevated improvement of standalone pure gasoline wells. State-run Saudi Aramco has awarded contracts to vitality firms trying to develop the nation’s largest unconventional gasoline area, Jafurah, situated close to the Persian Gulf.
At present the nation doesn’t export its pure gasoline manufacturing; nevertheless, the federal government plans to start pure gasoline exports by 2030. In accordance with the EIA, Saudi Arabia is working to interchange “crude oil, gasoline oil, and diesel-powered electrical turbines with pure gasoline and renewable vitality era by 2030, which can seemingly enhance home pure gasoline demand.”
In late 2023, Saudi Arabia started investing within the LNG market with Saudi Aramco shopping for a stake in MidOcean Power, which is about to accumulate pursuits in 4 Australian LNG tasks. In July 2024, Aramco awarded contracts value US$12.6 billion to broaden manufacturing within the Jafurah area.
The Jafurah venture is central to Aramco’s aim of boosting gasoline output by 60 p.c by 2030.
This was supported by an August announcement that Aramco signed an US$11 billion cope with a consortium led by World Infrastructure Companions, a part of BlackRock to lease and lease again its Jafurah gasoline processing services for 20 years.
A brand new subsidiary, Jafurah Midstream Gasoline Firm, will handle the belongings, with Aramco retaining a 51 p.c stake and unique rights to course of gasoline from the sphere.
9. Norway
Manufacturing: 113.2 billion cubic meters
Norway is the world’s ninth largest pure gasoline producer. Norway’s pure gasoline manufacturing reached a record-high of 116 billion cubic meters in 2023, however contracted to 113.2 billion cubic meters in 2024.
The Scandinavian nation has understandably changed Russia as the foremost provider to the European pure gasoline market. In 2023, Norway reportedly accounted for 30.3 p.c of pure gasoline provided to the EU.
Norway’s pure gasoline firms have ramped up manufacturing in response to elevated demand. In mid-2023, the federal government gave the inexperienced gentle to 19 oil and gasoline extraction tasks within the nation.
In early 2024, some concern arose that the business might face headwinds from a proposal by a local weather change committee to quickly droop new licenses whereas the federal government decides on a local weather technique. Nonetheless, in Could 2024 the federal government supplied licenses for 37 new blocks and emphasised the business’s significance to Norway and Europe.
Close to-term gasoline manufacturing is forecasted to contract barely in 2025 in response to the Norwegian Finances Invoice launched in early October 2024.
In June 2025, Shell (NYSE:SHEL) started working two sub-sea compressors on the Ormen Lange area within the Norwegian Sea, a transfer anticipated to elevate gasoline restoration charges from 75 p.c to 85 p.c.
Situated 120 kilometers offshore on the seabed and linked to the Nyhamna processing plant, the compressors may allow the extraction of a further 30 billion to 50 billion cubic meters of gasoline.
10. Algeria
Manufacturing: 94.7 billion cubic meters
Rounding out the highest 10 pure gas-producing international locations is Algeria, which produced 94.7 billion cubic meters of pure gasoline in 2024. The nation’s output decreased year-over-year from 101.5 billion cubic meters in 2023. In 2022, almost 85 p.c of the nation’s exports went to feed Europe’s pure gasoline demand.
In late Could 2024, Algeria signed two key hydrocarbon offers with US corporations, one with ExxonMobil and the opposite with Baker Hughes (NASDAQ:BKR), to spice up its pure gasoline manufacturing and improve exports to Europe. This comes as European nations search alternate options to Russian gasoline amid rising demand.
Regardless of the year-over-year manufacturing contraction, Algeria goals to ramp up its pure gasoline output to 200 billion cubic meters by 2030, in accordance to Power and Mines Minister Mohamed Arkab.
Key to reaching this goal might be heavy funding with US$36 billion earmarked for exploration and manufacturing. The technique contains increasing infrastructure on the Hassi R’Mel area with new compression stations and leveraging not too long ago found fields to spice up each home provide and export capability.
Algeria reportedly started discussions with ExxonMobil and Chevron (NYSE:CVX) in August 2025 for a landmark deal to develop its pure gasoline reserves, together with shale sources, in a transfer seen as a part of the nation’s efforts to draw worldwide funding.
The potential settlement would mark the primary time US majors have gained direct entry to Algeria’s reserves, introducing superior fracking strategies to unlock shale gasoline deposits home operators have been unable to entry.
FAQs for gasoline investing
What’s pure gasoline fabricated from and the way is it shaped?
Pure gasoline is a combination of methane and different naturally occurring gases. As fossil fuels, each crude oil and pure gasoline are shaped by way of the identical geological course of. It is not shocking then that the 2 supplies are sometimes discovered collectively. Pure gasoline is the product of historic decomposed natural matter that combined with sediment, grew to become buried and was topic to immense stress and warmth over thousands and thousands of years.
How is pure gasoline produced?
Pure gasoline is extracted by way of wells drilled into subsurface rock formations, or by way of hydraulic fracturing or “fracking” expertise from shale formations. Following extraction, pure gasoline is separated from different liquids, together with oil, hydrocarbon condensate and water. This separated gasoline then must be additional processed to fulfill particular necessities for end-use high quality and protected pipeline transmission.
What’s pure gasoline used for?
Pure gasoline is nicely generally known as a gasoline for heating, producing electrical energy and powering automobiles. Nonetheless, it is also used to fabricate varied merchandise, corresponding to vinyl flooring, carpeting, Aspirin and synthetic limbs; as well as, it is a key element within the manufacturing of ammonia.
Is pure gasoline a clear vitality?
In accordance with the EIA, burning pure gasoline for energy emits fewer greenhouse gasoline emissions and pollution than different fossil fuels, because it burns extra simply and accommodates fewer impurities. The EIA additionally notes that pure gasoline produces much less carbon dioxide per equal quantity of warmth manufacturing.
Is pure gasoline cleaner than coal?
Though pure gasoline is a fossil gasoline and was shaped beneath the identical circumstances, it’s usually pegged as a “cleaner” vitality choice than coal or oil. The EIA states that, “burning pure gasoline for vitality leads to fewer emissions of almost all forms of air pollution and carbon dioxide than burning coal or petroleum merchandise to provide an equal quantity of vitality.”
How a lot pure gasoline is left on the planet?
Pure gasoline will not be an infinite, renewable useful resource; nevertheless, its exhausting to find out what number of untapped sources are left on the planet. In accordance with one estimate, pure gasoline reserves are ample to final one other 53 years at present consumption charges. That determine would not consider recognized pure gasoline sources beneath improvement or these but to be found in underexplored areas.
How did the Ukraine warfare have an effect on gasoline?
Russia was a number one provider of pure gasoline to Europe previous to the nation’s invasion of Ukraine, representing about 40 p.c of the area’s provide. On account of the warfare, vitality costs shot up each in Europe and globally. In accordance with S&P World, the warfare has “accelerated” the globalization of the pure gasoline market as Europe turns to LNG. Within the midst of this altering panorama, the US has develop into the world’s largest exporter of LNG because it stepped up shipments to Europe.
Can Europe survive with out Russian gasoline?
The EU is working to part out Russian pure gasoline exports by 2027. The rising international LNG market permits flexibility for European international locations trying to supply pure gasoline provide from producers as near residence as Norway (Europe’s largest gasoline provider), different main pure gasoline suppliers in North Africa or from the world’s largest pure gasoline producer, the US.
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Securities Disclosure: I, Georgia Williams, maintain no direct funding curiosity in any firm talked about on this article.
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