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On the consumption aspect, demand grew 2.5 % — its quickest tempo in years — with Asia Pacific economies equivalent to China, Japan and India driving practically half the positive aspects, 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, rules and market dynamics,” the Worldwide Vitality Company’s (IEA) World Vitality Evaluate 2025 reads.
Learn on for a have a look at the highest 10 pure gas-producing nations in 2024 primarily based on the newest information from the Vitality Institute’s annual Statistical Evaluate of World Vitality.
1. United States
Manufacturing: 1.03 trillion cubic meters
The US is by far the most important producer of pure gasoline on the earth with manufacturing of 1.03 trillion cubic meters of pure gasoline in 2024, representing practically 1 / 4 of world pure gasoline manufacturing.
Its output has elevated by greater than 300 billion cubic meters up to now decade owing to the rising value of coal and developments in extraction know-how equivalent to horizontal drilling and hydraulic fracturing, also called fracking.
Along with being a significant pure gasoline producer, the US can be the largest shopper 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 Vitality Institute.
In 2024, the US exported a report quantity of liquified pure gasoline (LNG) at 115.2 billion cubic meters, following a tenth consecutive yr of report manufacturing. Whereas US exports grew simply 0.4 % 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 way of 2050. Regardless of the shift to renewable electrical energy era, US pure gasoline manufacturing is predicted to rise because of elevated worldwide demand for liquefied pure gasoline, in keeping with the US EIA’s Annual Vitality Outlook 2023.
In early 2025, in response to US tariff threats from new President Donald Trump, China slapped a 15 % tariff on US LNG imports. In line with the Monetary Press, the US accounted for about 6 % of China’s LNG consumption in 2024.
Pure gasoline is predicted to play a rising function within the US power combine by way of 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 improve 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 earth, 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 just below 20 % as of 2020.
“Traditionally, manufacturing was concentrated in West Siberia, however funding has shifted up to now decade to Yamal and Japanese Siberia and the Far East, in addition to the offshore Arctic,” in keeping with the Worldwide Vitality Company.
Europe’s rejection of Russian pure gasoline merchandise led to a 41 % 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 conflict on Ukraine. In June 2025 the EU launched a proposal for a authorized framework for carrying out 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 toes per day in 2024, the EIA reported. Moreover, the EU reported that Russia solely equipped 14 % of its member nations’ pure gasoline necessities in 2023, down from 45 % 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 by way of 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 section 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 during 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 % of world output. The Center Japanese 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 up to now decade to grow to be 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 % 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 models (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 building 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 report.
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-Yr 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 % 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. Nevertheless, 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 top of 2024, S&P World experiences.
Unconventional gasoline sources equivalent to shale, coal-bed methane and pure gasoline hydrates accounts for an estimated 43 % of China’s whole gasoline output.
Whereas home manufacturing has ticked greater, China’s LNG imports are transferring the other way. LNG imports fell by greater than 20 % through the first half of 2025. Rising home and pipeline provide helps offset the diminished LNG inflows, with coverage and infrastructure efforts geared toward shrinking reliance on imported gasoline.
Home demand has additionally pulled again barely, as China’s gasoline demand declined by roughly 1 % 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 toes 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 completely on pipelines, with the US as its solely buying and selling associate. In 2022, 99 % of all US pure gasoline imports got here from its neighbor to the north.
In early 2025, US President Trump threatened to position 10 % 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.
Trying to increase its commerce associate 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 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 grow to be the world’s main power superpower with the strongest financial system within the G7.”
His phrases reiterated the findings of a Could 2025 report from the Fraser Institute that outlined Canada’s capacity to contribute to world greenhouse gasoline emissions discount by way of elevated LNG manufacturing and exports to nations that at the moment depend on coal.
“As nations like China and India proceed to burn coal for energy, Canadian LNG provides 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 earth. Nearly all of its reserves are positioned on the earth’s largest pure gasoline subject, the offshore North Subject, 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 increase its footprint within the worldwide pure gasoline market. Statista experiences 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 can be projected to just about double the nation’s LNG output over the subsequent 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 Subject East growth, 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 % 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 Better Gorgon, North West Shelf Enterprise and Ichthys
Australia’s LNG exports have grown exponentially over the previous decade as a number of new manufacturing amenities 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 Fuel 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 Vitality 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 Vitality 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 undertaking underscores efforts to maintain home provide from the growing older Bass Strait, whilst manufacturing declines. It follows different latest 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 improve by 25 % since 2014, reaching a report 121.5 billion cubic meters in 2024.
Mordor Intelligence experiences that this manufacturing development was due largely to elevated growth 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; nevertheless, 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 is able to seemingly improve home pure gasoline demand.”
In late 2023, Saudi Arabia started investing within the LNG market with Saudi Aramco shopping for a stake in MidOcean Vitality, which is about to accumulate pursuits in 4 Australian LNG tasks. In July 2024, Aramco awarded contracts value US$12.6 billion to increase manufacturing within the Jafurah subject.
The Jafurah undertaking is central to Aramco’s objective of boosting gasoline output by 60 % 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 amenities for 20 years.
A brand new subsidiary, Jafurah Midstream Fuel Firm, will handle the property, with Aramco retaining a 51 % 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 foremost provider to the European pure gasoline market. In 2023, Norway reportedly accounted for 30.3 % of pure gasoline equipped 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 tasks within the nation.
In early 2024, some concern arose that the business could 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 provided 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 Price range 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 % to 85 %.
Situated 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 % 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 companies, 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 Vitality and Mines Minister Mohamed Arkab.
Key to reaching this goal can be heavy funding with US$36 billion earmarked for exploration and manufacturing. The technique contains increasing infrastructure on the Hassi R’Mel subject with new compression stations and leveraging just 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 strategies to unlock shale gasoline deposits home operators have been unable to entry.
FAQs for gasoline investing
What’s pure gasoline product of and the way is it fashioned?
Pure gasoline is a combination of methane and different naturally occurring gases. As fossil fuels, each crude oil and pure gasoline are fashioned through 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, turned buried and was topic to immense strain and warmth over thousands and thousands of years.
How is pure gasoline produced?
Pure gasoline is extracted through wells drilled into subsurface rock formations, or through hydraulic fracturing or “fracking” know-how 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 properly often called a gas for heating, producing electrical energy and powering automobiles. Nevertheless, it is also used to fabricate varied merchandise, equivalent to vinyl flooring, carpeting, Aspirin and synthetic limbs; as well as, it is a key part 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 incorporates 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 fashioned below the identical situations, it’s usually pegged as a “cleaner” power possibility than coal or oil. The EIA states that, “burning pure gasoline for power ends in fewer emissions of practically all forms 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 earth?
Pure gasoline isn’t an infinite, renewable useful resource; nevertheless, its arduous to find out what number of untapped sources are left on the earth. In line with one estimate, pure gasoline reserves are ample to final one other 53 years at present consumption charges. That determine does not have in mind recognized pure gasoline sources below growth or these but to be found in underexplored areas.
How did the Ukraine conflict 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 % of the area’s provide. On account of the conflict, power costs shot up each in Europe and globally. In line with S&P World, the conflict has “accelerated” the globalization of the pure gasoline market as Europe turns to LNG. Within the midst of this altering panorama, the US has grow to be 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 world LNG market permits flexibility for European nations 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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