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On the consumption aspect, demand grew 2.5 p.c — its quickest tempo in years — with Asia Pacific economies similar to China, Japan and India driving practically half the beneficial properties, 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 Overview 2025 reads.
Learn on for a have a look at the highest 10 pure gas-producing nations in 2024 based mostly on the latest information from the Power Institute’s annual Statistical Overview of World Power.
1. United States
Manufacturing: 1.03 trillion cubic meters
The US is by far the biggest producer of pure gasoline on the planet with manufacturing of 1.03 trillion cubic meters of pure gasoline in 2024, representing practically 1 / 4 of worldwide pure gasoline manufacturing.
Its output has elevated by greater than 300 billion cubic meters previously decade owing to the growing value of coal and developments in extraction expertise similar to horizontal drilling and hydraulic fracturing, also referred to as fracking.
Along with being a significant pure gasoline producer, the US can be the largest client of the gas. In 2024, US demand for pure gasoline totaled 902.2 billion cubic meters, up from 2023’s 888.4 billion cubic meters, in keeping with the Power Institute.
In 2024, the US exported a document quantity of liquified pure gasoline (LNG) at 115.2 billion cubic meters, following a tenth consecutive yr of document 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 development will maintain the US a internet exporter of petroleum merchandise and pure gasoline by 2050. Regardless of the shift to renewable electrical energy era, US pure gasoline manufacturing is anticipated to rise because of elevated worldwide demand for liquefied pure gasoline, in keeping with 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 line with the Monetary Press, the US accounted for about 6 p.c of China’s LNG consumption in 2024.
Pure gasoline is anticipated to play a rising position within the US power combine by 2050, whilst oil and coal consumption decline, in keeping with S&P World Commodity Insights. Analysts level to coal-to-gas substitution as a key driver of the US transition, whereas scalability and value limitations proceed to gradual a direct leap from coal to renewables.
“By 2050, gasoline shall be the one fossil gas with a possible enhance within the power 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 power 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 previously decade to Yamal and Japanese Siberia and the Far East, in addition to the offshore Arctic,” in keeping with 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 gas, the EU is phasing out Russia-sourced pure gasoline by 2027 as a result of nation’s struggle on Ukraine. In June 2025 the EU launched a proposal for a authorized framework for engaging in the 2027 objective.
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 nations’ pure gasoline necessities in 2023, down from 45 p.c in 2021.
Regardless of the battle between Russia and Ukraine, the latter has remained an important hall for Russian pure gasoline into the EU. In September 2024, Russian pure gasoline exports that traveled by Ukraine totaled 1.26 billion cubic meters.
To offset misplaced European demand, Russia has pivoted its power export commerce, with China and India propping up its pure gasoline export market. The nation has expanded gasoline exports eastward through 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 biggest 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 Japanese nation ranks second when it comes to 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 previously decade to change into the Center East’s largest producer. Iran and Qatar share the world’s largest pure gasoline subject. Iran’s portion is called 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 keeping with the nation’s Oil Minister Javad Owji. Nevertheless, Qatar’s growth 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 subject after an Israeli airstrike broken one among its key processing items (Part 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 document.
In recent times, China’s authorities has incentivized the transition from coal to pure gasoline to scale back air air pollution and meet emissions targets. In its 14th 5-12 months Plan, the federal government set an annual pure gasoline manufacturing goal of 230 billion cubic meters by 2025, a objective 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 satisfy about half of its demand. Australia, Turkmenistan, the US, Malaysia, Russia and Qatar are a few of its largest suppliers. Nevertheless, it has but to satisfy its pure gasoline storage goal of 55 billion to 60 billion cubic meters, with solely 26.7 billion cubic meters by the top of 2024, S&P World reviews.
Unconventional gasoline sources similar to shale, coal-bed methane and pure gasoline hydrates accounts for an estimated 43 p.c of China’s whole gasoline output.
Whereas home manufacturing has ticked increased, China’s LNG imports are shifting the other way. LNG imports fell by greater than 20 p.c throughout the first half of 2025. Rising home and pipeline provide helps offset the lowered 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 vital pure gasoline reserves.
Canada can be a prime pure gasoline exporter, relying solely on pipelines, with the US as its solely buying and selling accomplice. 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 power imports from Canada, together with pure gasoline. The transfer has led to elevated calls for cross-Canada pipeline constructing and growth of commerce companions.
Seeking to broaden its commerce accomplice 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 started operations with two liquefaction trains able to producing 14 million metric tons each year.
“With LNG Canada’s first cargo to Asia, Canada is exporting its power to dependable companions, diversifying commerce, and lowering world emissions — all in partnership with Indigenous Peoples,” Prime Minister Mark Carney stated of the cargo. “By turning aspiration into motion, Canada can change into the world’s main power 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 means to contribute to world greenhouse gasoline emissions discount by elevated LNG manufacturing and exports to nations that presently depend on coal.
“As nations like China and India proceed to burn coal for energy, Canadian LNG affords a lower-emission different with the potential for main world 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. The vast majority of its reserves are positioned on the planet’s largest pure gasoline subject, the offshore North Discipline, 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.
In recent times, Qatar has made strikes to capitalize additional on its sources in an effort to broaden its footprint within the worldwide pure gasoline market. Statista reviews that state-owned Qatar Petroleum is wanting “to extend its LNG export market to compete with Russian LNG deliveries.”
To fulfil these aspirations Qatar is pushing forward with growth plans which might be projected to almost double the nation’s LNG output over the following few years, elevating manufacturing capability from 77 million metric tons each year to round 126 million by 2027.
Key to that development is the North Discipline East growth, which is ready 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. Practically all of Australia’s pure gasoline sources are positioned 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 power 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 stop shortages by 2028 on the east coast and 2030 on the west coast.
Whereas supportive of the plan, Australia’s power producers have raised considerations of potential gasoline provide shortfalls by the top of the last decade amid world market volatility. Meg O’Neill, chair of Australian Power Producers, highlighted that with out motion, Australia’s east and west coasts might face shortages by 2028 and 2030, respectively, which might drive up power 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 Part 3 venture underscores efforts to maintain home provide from the growing old Bass Strait, whilst 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 document 121.5 billion cubic meters in 2024.
Mordor Intelligence reviews that this manufacturing development was due largely to elevated improvement of standalone pure gasoline wells. State-run Saudi Aramco has awarded contracts to power corporations trying to develop the nation’s largest unconventional gasoline subject, Jafurah, positioned close to the Persian Gulf.
Presently the nation doesn’t export its pure gasoline manufacturing; nonetheless, the federal government plans to start pure gasoline exports by 2030. In line with the EIA, Saudi Arabia is working to exchange “crude oil, gas oil, and diesel-powered electrical turbines with pure gasoline and renewable power era by 2030, which can probably 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 ready to accumulate pursuits in 4 Australian LNG initiatives. In July 2024, Aramco awarded contracts value US$12.6 billion to broaden manufacturing within the Jafurah subject.
The Jafurah venture is central to Aramco’s objective 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 property, with Aramco retaining a 51 p.c stake and unique rights to course of gasoline from the sector.
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 key 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 corporations 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 initiatives 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. Nevertheless, 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 keeping with 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 subject within the Norwegian Sea, a transfer anticipated to carry gasoline restoration charges from 75 p.c to 85 p.c.
Positioned 120 kilometers offshore on the seabed and linked to the Nyhamna processing plant, the compressors might allow the extraction of an extra 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 nations 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, practically 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 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 consists of increasing infrastructure on the Hassi R’Mel subject with new compression stations and leveraging lately 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 methods to unlock shale gasoline deposits home operators have been unable to entry.
FAQs for gasoline investing
What’s pure gasoline manufactured 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 through the identical geological course of. It is not stunning then that the 2 supplies are sometimes discovered collectively. Pure gasoline is the product of historical decomposed natural matter that blended with sediment, turned buried and was topic to immense stress and warmth over tens of millions of years.
How is pure gasoline produced?
Pure gasoline is extracted through wells drilled into subsurface rock formations, or through 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 satisfy particular necessities for end-use high quality and protected pipeline transmission.
What’s pure gasoline used for?
Pure gasoline is properly generally known as a gas for heating, producing electrical energy and powering autos. Nevertheless, it is also used to fabricate varied merchandise, similar 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 power?
In line 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 gas and was shaped underneath the identical circumstances, it’s usually pegged as a “cleaner” power choice than coal or oil. The EIA states that, “burning pure gasoline for power ends in fewer emissions of practically all kinds of air pollution and carbon dioxide than burning coal or petroleum merchandise to provide an equal quantity of power.”
How a lot pure gasoline is left on the planet?
Pure gasoline is just not an infinite, renewable useful resource; nonetheless, its laborious to find out what number of untapped sources are left on the planet. In line with one estimate, pure gasoline reserves are adequate to final one other 53 years at present consumption charges. That determine would not take note of identified pure gasoline sources underneath improvement or these but to be found in underexplored areas.
How did the Ukraine struggle 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. Because of the struggle, power costs shot up each in Europe and globally. In line with S&P World, the struggle has “accelerated” the globalization of the pure gasoline market as Europe turns to LNG. Within the midst of this altering panorama, the US has change 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 section out Russian pure gasoline exports by 2027. The rising world LNG market permits flexibility for European nations trying to supply pure gasoline provide from producers as near dwelling 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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