Natural gas remains a vital source of energy, even as the world transitions toward a carbon-free economy. When investing in this sector, it is important to understand the specifics of natural gas production across different countries.
1. United States
Production: 1.03 trillion cubic meters The U.S. is currently the largest natural gas producer in the world. In 2024, U.S. natural gas production reached 1.03 trillion cubic meters, accounting for nearly one-fourth of global output.
2. Russia
Production: 629.9 billion cubic meters Russia, the world’s second-largest natural gas producer and exporter, produced 629.9 billion cubic meters in 2024. The country’s largest producer is the state-owned energy company Gazprom, followed by Novatek. Russia also holds the world’s largest known natural gas reserves—just under 20% as of 2020.
3. Iran
Production: 262.9 billion cubic meters In 2024, Iran produced 262.9 billion cubic meters of natural gas, representing about 6.4% of global output. This Middle Eastern nation ranks second in the world for natural gas reserves.
4. China
Production: 248.4 billion cubic meters In 2024, China’s natural gas production reached a record 248.4 billion cubic meters. In recent years, the Chinese government has encouraged a shift from coal to natural gas to reduce air pollution and meet emissions targets. Under its 14th Five-Year Plan, China set an annual natural gas production goal of 230 billion cubic meters by 2025—a target achieved two years early, in 2023. Between 2014 and 2024, China’s natural gas production increased by 89%, from 131.2 billion cubic meters.
5. Canada
Production: 194.2 billion cubic meters In 2024, Canada produced 194.2 billion cubic meters of natural gas, with proven reserves of 83 trillion cubic feet. The Western Canadian Sedimentary Basin (WCSB) is the country’s main source of natural gas production.
6. Qatar
Production: 179.5 billion cubic meters Qatar holds the world’s third-largest proven natural gas reserves, most of which are concentrated in the North Field, the world’s largest offshore gas field, which Qatar shares with Iran. Qatar ranks second globally in LNG exports, with 106.9 billion cubic meters in 2024, slightly ahead of Australia, which ranked third with 106.8 billion cubic meters.
7. Australia
Production: 150.1 billion cubic meters In 2024, Australia produced 150.1 billion cubic meters of natural gas—an increase of 130% compared to 2014, when production stood at 65.3 billion cubic meters. Nearly all of Australia’s natural gas reserves are located on the North West Shelf, across three main basins that feed the country’s largest gas fields, including Greater Gorgon, North West Shelf, and Ichthys.
8. Saudi Arabia
Production: 121.5 billion cubic meters Since 2014, Saudi Arabia has increased its gas production by 25%, reaching a record 121.5 billion cubic meters in 2024.
9. Norway
Production: 113.2 billion cubic meters In 2023, Norway’s natural gas production reached a record 116 billion cubic meters, before declining slightly to 113.2 billion cubic meters in 2024.
10. Algeria
Production: 94.7 billion cubic meters Rounding out the top 10 is Algeria, which produced 94.7 billion cubic meters of natural gas in 2024—a decrease from 101.5 billion cubic meters in 2023. In 2022, nearly 85% of Algeria’s gas exports were destined for Europe to meet its energy demand.
At Etton Solutions, we develop advanced tools for evaluating the investment potential of oil and gas fields, helping companies make informed, data-driven exploration and development decisions.
1. United States
Production: 1.03 trillion cubic meters The U.S. is currently the largest natural gas producer in the world. In 2024, U.S. natural gas production reached 1.03 trillion cubic meters, accounting for nearly one-fourth of global output.
2. Russia
Production: 629.9 billion cubic meters Russia, the world’s second-largest natural gas producer and exporter, produced 629.9 billion cubic meters in 2024. The country’s largest producer is the state-owned energy company Gazprom, followed by Novatek. Russia also holds the world’s largest known natural gas reserves—just under 20% as of 2020.
3. Iran
Production: 262.9 billion cubic meters In 2024, Iran produced 262.9 billion cubic meters of natural gas, representing about 6.4% of global output. This Middle Eastern nation ranks second in the world for natural gas reserves.
4. China
Production: 248.4 billion cubic meters In 2024, China’s natural gas production reached a record 248.4 billion cubic meters. In recent years, the Chinese government has encouraged a shift from coal to natural gas to reduce air pollution and meet emissions targets. Under its 14th Five-Year Plan, China set an annual natural gas production goal of 230 billion cubic meters by 2025—a target achieved two years early, in 2023. Between 2014 and 2024, China’s natural gas production increased by 89%, from 131.2 billion cubic meters.
5. Canada
Production: 194.2 billion cubic meters In 2024, Canada produced 194.2 billion cubic meters of natural gas, with proven reserves of 83 trillion cubic feet. The Western Canadian Sedimentary Basin (WCSB) is the country’s main source of natural gas production.
6. Qatar
Production: 179.5 billion cubic meters Qatar holds the world’s third-largest proven natural gas reserves, most of which are concentrated in the North Field, the world’s largest offshore gas field, which Qatar shares with Iran. Qatar ranks second globally in LNG exports, with 106.9 billion cubic meters in 2024, slightly ahead of Australia, which ranked third with 106.8 billion cubic meters.
7. Australia
Production: 150.1 billion cubic meters In 2024, Australia produced 150.1 billion cubic meters of natural gas—an increase of 130% compared to 2014, when production stood at 65.3 billion cubic meters. Nearly all of Australia’s natural gas reserves are located on the North West Shelf, across three main basins that feed the country’s largest gas fields, including Greater Gorgon, North West Shelf, and Ichthys.
8. Saudi Arabia
Production: 121.5 billion cubic meters Since 2014, Saudi Arabia has increased its gas production by 25%, reaching a record 121.5 billion cubic meters in 2024.
9. Norway
Production: 113.2 billion cubic meters In 2023, Norway’s natural gas production reached a record 116 billion cubic meters, before declining slightly to 113.2 billion cubic meters in 2024.
10. Algeria
Production: 94.7 billion cubic meters Rounding out the top 10 is Algeria, which produced 94.7 billion cubic meters of natural gas in 2024—a decrease from 101.5 billion cubic meters in 2023. In 2022, nearly 85% of Algeria’s gas exports were destined for Europe to meet its energy demand.
At Etton Solutions, we develop advanced tools for evaluating the investment potential of oil and gas fields, helping companies make informed, data-driven exploration and development decisions.