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On the consumption aspect, demand grew 2.5 p.c — its quickest tempo in years — with Asia Pacific economies akin to China, Japan and India driving almost half the positive factors, whereas Europe noticed its first demand uptick since 2021.
“Pure fuel continued to displace oil and oil merchandise in numerous sectors, supported by insurance policies, rules and market dynamics,” the Worldwide Vitality Company’s (IEA) World Vitality Assessment 2025 reads.
Learn on for a have a look at the highest 10 pure gas-producing international locations in 2024 based mostly on the newest knowledge from the Vitality Institute’s annual Statistical Assessment of World Vitality.
1. United States
Manufacturing: 1.03 trillion cubic meters
The US is by far the most important producer of pure fuel on this planet with manufacturing of 1.03 trillion cubic meters of pure fuel in 2024, representing almost 1 / 4 of world pure fuel manufacturing.
Its output has elevated by greater than 300 billion cubic meters prior to now decade owing to the growing price of coal and developments in extraction know-how akin to horizontal drilling and hydraulic fracturing, also referred to as fracking.
Along with being a serious pure fuel producer, the US can also be the most important client of the gasoline. In 2024, US demand for pure fuel 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 fuel (LNG) at 115.2 billion cubic meters, following a tenth consecutive yr of report 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 internet exporter of petroleum merchandise and pure fuel by 2050. Regardless of the shift to renewable electrical energy technology, US pure fuel manufacturing is predicted to rise on account of elevated worldwide demand for liquefied pure fuel, 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 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 fuel is predicted to play a rising position within the US power combine by 2050, at the same time as 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 obstacles proceed to gradual a direct leap from coal to renewables.
“By 2050, fuel shall be the one fossil gasoline 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 fuel on this planet, Russia produced 629.9 billion cubic meters of pure fuel in 2024. The nation’s state-owned power group Gazprom its its largest pure fuel producer, with fuel firm Novatek taking second place.
Russia additionally holds the largest-known pure fuel reserves on the planet, at just 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 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 fuel 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 fuel producer and the second largest exporter of the gasoline, the EU is phasing out Russia-sourced pure fuel by 2027 because of the nation’s struggle on Ukraine. In June 2025 the EU launched a proposal for a authorized framework for undertaking the 2027 objective.
EU imports of Russian pure fuel 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 fuel 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 fuel into the EU. In September 2024, Russian pure fuel 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 fuel export market. The nation has expanded fuel 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 also be set to provide Iran with pure fuel after it signed a long-term pure fuel provide deal in October 2024 wherein Gazprom dedicated to supplying 109 billion cubic meters of fuel 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 fuel in 2024, representing about 6.4 p.c of world output. The Center Japanese nation ranks second when it comes to pure fuel reserves.
Whereas its pure fuel infrastructure is way behind the highest two pure fuel producers, Iran has elevated its pure fuel manufacturing considerably prior to now decade to turn out to be the Center East’s largest producer. Iran and Qatar share the world’s largest pure fuel area. 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 fuel fields, in keeping with the nation’s Oil Minister Javad Owji. Nonetheless, Qatar’s growth of liquefied pure fuel manufacturing in North Dome poses a problem to Iran’s output ambitions.
In mid-2025, Iran partially suspended fuel output on the South Pars area after an Israeli airstrike broken certainly one of its key processing models (Part 14). The strike shut down roughly 12 million cubic meters per day of fuel manufacturing. Whereas manufacturing has reportedly resumed, it’s unclear if operations are at full capability.
Turkey and Iraq are main importers of Iranian pure fuel, whereas Turkmenistan and Armenia have swap offers with Iran. Iran signed a long-term deal to import 109 billion cubic meters of fuel 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 fuel manufacturing reached 248.4 billion cubic meters in 2024, an all-time report.
Lately, China’s authorities has incentivized the transition from coal to pure fuel to cut back air air pollution and meet emissions targets. In its 14th 5-12 months Plan, the federal government set an annual pure fuel manufacturing goal of 230 billion cubic meters by 2025, a objective the nation met two years early in 2023. Between 2014 and 2024, pure fuel 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 fuel 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 fuel sources akin to shale, coal-bed methane and pure fuel hydrates accounts for an estimated 43 p.c of China’s complete fuel output.
Whereas home manufacturing has ticked greater, China’s LNG imports are transferring the other 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 diminished LNG inflows, with coverage and infrastructure efforts aimed toward shrinking reliance on imported fuel.
Home demand has additionally pulled again barely, as China’s fuel 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 fuel in 2024, and the nation holds 83 trillion cubic ft of proved pure fuel reserves. The Western Canadian Sedimentary Basin (WCSB) is the prime supply of nearly all of Canada’s pure fuel manufacturing. Along with the WCSB, offshore fields close to Newfoundland and Nova Scotia, the Arctic area and the Pacific coast maintain vital pure fuel reserves.
Canada can also be a high pure fuel exporter, relying completely on pipelines, with the US as its solely buying and selling accomplice. In 2022, 99 p.c of all US pure fuel imports got here from its neighbor to the north.
In early 2025, US President Trump threatened to position 10 p.c tariffs on power imports from Canada, together with pure fuel. The transfer has led to elevated calls for cross-Canada pipeline constructing and growth of commerce companions.
Trying to broaden its commerce accomplice record, in late June, LNG Canada shipped its first liquefied pure fuel 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 decreasing international emissions — all in partnership with Indigenous Peoples,” Prime Minister Mark Carney mentioned of the cargo. “By turning aspiration into motion, Canada can turn out 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 means to contribute to international greenhouse fuel emissions discount by 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 presents a lower-emission different with the potential for main international impression,” mentioned Elmira Aliakbari, director of pure useful resource research on the Fraser Institute and coauthor of the examine.
6. Qatar
Manufacturing: 179.5 billion cubic meters
Qatar is the sixth largest pure fuel producer and hosts the third largest proved pure fuel reserves on this planet. The vast majority of its reserves are situated on this planet’s largest pure fuel 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 assets in an effort to broaden its footprint within the worldwide pure fuel market. Statista reviews 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 growth plans which might be projected to almost 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 progress is the North Area 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 fuel 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 fuel assets are situated within the North West Shelf, with three of the basins there offering feedstock to the nation’s largest fuel 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 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 fuel manufacturing. The federal government plan highlights the necessity for brand spanking new fuel 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 issues of potential fuel provide shortfalls by the top of the last decade amid international 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 fuel output past 2030.
The Turrum Part 3 venture underscores efforts to maintain home provide from the growing old Bass Strait, at the same time as manufacturing declines. It follows different current approvals by the three way partnership to bolster Australia’s fuel 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 report 121.5 billion cubic meters in 2024.
Mordor Intelligence reviews that this manufacturing progress was due largely to elevated growth of standalone pure fuel wells. State-run Saudi Aramco has awarded contracts to power firms seeking to develop the nation’s largest unconventional fuel area, Jafurah, situated close to the Persian Gulf.
Presently the nation doesn’t export its pure fuel manufacturing; nevertheless, the federal government plans to start pure fuel exports by 2030. In line with the EIA, Saudi Arabia is working to interchange “crude oil, gasoline oil, and diesel-powered electrical mills with pure fuel and renewable power technology by 2030, which can doubtless enhance home pure fuel 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 amass pursuits in 4 Australian LNG initiatives. 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 objective of boosting fuel 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 fuel processing amenities 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 fuel from the sphere.
9. Norway
Manufacturing: 113.2 billion cubic meters
Norway is the world’s ninth largest pure fuel producer. Norway’s pure fuel 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 fuel market. In 2023, Norway reportedly accounted for 30.3 p.c of pure fuel provided to the EU.
Norway’s pure fuel firms have ramped up manufacturing in response to elevated demand. In mid-2023, the federal government gave the inexperienced mild to 19 oil and fuel extraction initiatives within the nation.
In early 2024, some concern arose that the trade could face headwinds from a proposal by a local weather change committee to briefly droop new licenses whereas the federal government decides on a local weather technique. Nonetheless, in Could 2024 the federal government provided licenses for 37 new blocks and emphasised the trade’s significance to Norway and Europe.
Close to-term fuel 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 area within the Norwegian Sea, a transfer anticipated to raise fuel 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 might allow the extraction of an extra 30 billion to 50 billion cubic meters of fuel.
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 fuel 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 fuel 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 fuel manufacturing and improve exports to Europe. This comes as European nations search alternate options to Russian fuel amid rising demand.
Regardless of the year-over-year manufacturing contraction, Algeria goals to ramp up its pure fuel output to 200 billion cubic meters by 2030, in accordance to Vitality 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 area 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 fuel reserves, together with shale assets, 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 fuel deposits home operators have been unable to entry.
FAQs for fuel investing
What’s pure fuel made from and the way is it shaped?
Pure fuel is a mix of methane and different naturally occurring gases. As fossil fuels, each crude oil and pure fuel are shaped through the identical geological course of. It is not shocking then that the 2 supplies are sometimes discovered collectively. Pure fuel is the product of historical decomposed natural matter that blended with sediment, turned buried and was topic to immense stress and warmth over hundreds of thousands of years.
How is pure fuel produced?
Pure fuel is extracted through wells drilled into subsurface rock formations, or through hydraulic fracturing or “fracking” know-how from shale formations. Following extraction, pure fuel is separated from different liquids, together with oil, hydrocarbon condensate and water. This separated fuel then must be additional processed to fulfill particular necessities for end-use high quality and protected pipeline transmission.
What’s pure fuel used for?
Pure fuel is nicely often called a gasoline for heating, producing electrical energy and powering automobiles. Nonetheless, it is also used to fabricate numerous merchandise, akin to vinyl flooring, carpeting, Aspirin and synthetic limbs; as well as, it is a key element within the manufacturing of ammonia.
Is pure fuel a clear power?
In line with the EIA, burning pure fuel for energy emits fewer greenhouse fuel emissions and pollution than different fossil fuels, because it burns extra simply and comprises fewer impurities. The EIA additionally notes that pure fuel produces much less carbon dioxide per equal quantity of warmth manufacturing.
Is pure fuel cleaner than coal?
Though pure fuel is a fossil gasoline and was shaped beneath the identical circumstances, it’s typically pegged as a “cleaner” power choice than coal or oil. The EIA states that, “burning pure fuel for power leads to fewer emissions of almost all sorts of air pollution and carbon dioxide than burning coal or petroleum merchandise to provide an equal quantity of power.”
How a lot pure fuel is left on this planet?
Pure fuel shouldn’t be an infinite, renewable useful resource; nevertheless, its onerous to find out what number of untapped sources are left on this planet. In line with one estimate, pure fuel reserves are enough to final one other 53 years at present consumption charges. That determine would not bear in mind recognized pure fuel assets beneath growth or these but to be found in underexplored areas.
How did the Ukraine struggle have an effect on fuel?
Russia was a number one provider of pure fuel 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 fuel market as Europe turns to LNG. Within the midst of this altering panorama, the US has turn out to be the world’s largest exporter of LNG because it stepped up shipments to Europe.
Can Europe survive with out Russian fuel?
The EU is working to part out Russian pure fuel exports by 2027. The rising international LNG market permits flexibility for European international locations seeking to supply pure fuel provide from producers as near residence as Norway (Europe’s largest fuel provider), different main pure fuel suppliers in North Africa or from the world’s largest pure fuel 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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