Global Natural Gas Production Landscape in 2024: Top 10 Producing Nations Reshaped

As the world pursues decarbonization goals, natural gas remains a pivotal energy source driving economies worldwide. Understanding which countries dominate production is essential for energy investors and market strategists. In 2023, global natural gas output reached 4.05 trillion cubic meters, a marginal increase from 4.04 trillion cubic meters in 2022, reflecting modest growth amid geopolitical shifts and energy transitions.

Market Dynamics: Production Trends and Regional Shifts

The US expanded its production by 4.2 percent in 2023, solidifying its market dominance. Conversely, Russia’s output contracted by 5.2 percent during the same period, driven by reduced European exports stemming from geopolitical tensions. While Russia remains the world’s second-largest producer and retains the planet’s largest natural gas reserves through Gazprom’s 16.3 percent global share, the EU has targeted phasing out Russian supplies by 2027. In 2023, Russian gas accounted for merely 14 percent of EU member states’ natural gas needs, plummeting from 45 percent in 2021.

Global demand expanded modestly by 0.5 percent in 2023, with growth concentrated in China, North America, Africa and the Middle East. China, recovering from pandemic disruptions, emerged as the world’s largest LNG importer, registering a 7.2 percent surge in natural gas demand. Starkly contrasting this growth, Europe experienced a 6.9 percent consumption decline—the lowest since 1994—catalyzed by renewable energy expansion and enhanced nuclear capacity, which simultaneously depressed natural gas prices.

The Shifting European Energy Supply: From Russian Dependence to Diversification

Russia has strategically redirected natural gas exports eastward, with China and India absorbing displaced volumes. However, the energy landscape pivoted dramatically: Norway has ascended as a leading European producer of natural gas, capturing 30.3 percent of EU supply in 2023, effectively replacing Moscow’s historical dominance. This transition underscores Europe’s deliberate diversification strategy and investment in alternative suppliers.

The Top 10 Natural Gas Producers: Ranking and Analysis

1. United States – 1.35 Trillion Cubic Meters

Commanding nearly 25 percent of global production, the US stands unrivaled as the world’s premier natural gas manufacturer. Technological advances—particularly horizontal drilling and hydraulic fracturing (fracking)—combined with coal price escalation, propelled output upward by over 350 billion cubic meters within the past decade. The Appalachia region contributed 29 percent of total 2023 US production, though pipeline capacity constraints limit growth trajectories.

Simultaneously, the US dominates global LNG exports, maintaining its top position achieved in mid-2022. For the first seven months of 2024, US exports totaled 4.42 billion cubic meters, representing a 3.3 percent year-over-year increase. Domestic demand in 2023 reached 886.5 billion cubic meters, primarily for residential heating and electricity generation. The Energy Information Administration forecasts that despite renewable electricity transitions, US natural gas production will escalate through 2050 due to surging international LNG demand.

2. Russia – 586.4 Billion Cubic Meters

Russia’s production footprint remains substantial, yet its geopolitical isolation reshaped energy flows. The country’s 41 percent revenue decline for natural gas producers in the first three quarters of 2023 reflects Europe’s strategic pivot. Despite Ukraine-Russia conflict, transit routes remained operational; September 2024 shipments through Ukraine reached 1.26 billion cubic meters. However, Ukraine’s intention to terminate the gas transit agreement by year-end 2024 will sever this critical corridor, intensifying regional energy tensions and potentially disrupting EU supply chains.

3. Iran – 251.7 Billion Cubic Meters

As the world’s third-largest natural gas producer representing approximately 6 percent of global output, Iran possesses the second-largest reserves globally. The nation tripled production over the past decade, claiming Middle East leadership. Iran shares the world’s largest gas field with Qatar—Iran’s South Pars and Qatar’s North Dome—yet its infrastructure lags leading producers.

An $80 billion investment initiative targets 30 percent capacity expansion within five years. In October 2024, Iran and Russia finalized a long-term natural gas supply pact, with Gazprom committing 109 billion cubic meters annually to Iran, enabling domestic utilization and re-export to Turkey, Pakistan and Iraq. This agreement bolsters regional energy security while countering sanctions impacts.

4. China – 234.3 Billion Cubic Meters

China’s government-led transition from coal to natural gas catalyzed unprecedented growth. Since 2013, production surged 92.3 percent from 121.8 billion cubic meters to 234.3 billion cubic meters in 2023—an all-time peak. Nevertheless, China imports approximately half its demand from Australia, Turkmenistan, the US, Malaysia, Russia and Qatar. The 14th Five-Year Plan (2021-25) targets 22.3 billion cubic feet daily by 2025, exceeding 2021 levels by 3.0 billion cubic feet daily.

Unconventional sources—shale, coal-bed methane and natural gas hydrates—represent 43 percent of total output. Notably, China has expanded underground storage capacity ahead of winter demand, cushioning against supply disruptions while a sluggish economy and renewable proliferation moderate future demand trajectories.

5. Canada – 190.3 Billion Cubic Meters

Canada holds 83 trillion cubic feet of proved reserves, with the Western Canadian Sedimentary Basin dominating production. Offshore fields near Newfoundland and Nova Scotia, Arctic regions and Pacific coastal areas harbor significant deposits. As a premier natural gas exporter relying exclusively on pipeline infrastructure with the US as its sole trading partner, Canada supplied 99 percent of US natural gas imports in 2022.

LNG Canada’s coastal pipeline project reached 95 percent completion in mid-September, with first international shipments scheduled for mid-2025. In 2023, Canadian production averaged 17.9 billion cubic feet daily, exceeding 18 billion cubic feet monthly for eight of twelve months, positioning Canada for emerging LNG export prominence.

6. Qatar – 181 Billion Cubic Meters

Qatar ranks sixth globally and hosts the world’s third-largest proved reserves, concentrated in the North Field shared with Iran. As the third-largest LNG exporter as of October 2023, Qatar has aggressively expanded footprint. In early 2024, Qatar unveiled expansion plans targeting 142 million metric tons annually by 2030, with North Field West contributing an additional 16 million metric tons—directly competing with Russian LNG deliveries.

7. Australia – 151.7 Billion Cubic Meters

Since 2009, Australia added 113 billion cubic meters of production capacity. Nearly all resources concentrate in North West Shelf mega-fields supplying seven LNG projects. Australia commands the world’s second-largest operating LNG export capacity, though Santos flagged production declines in 2024 as the Bayu-Undan offshore field nears depletion.

The May 2024 Australia’s Future Gas Strategy prioritizes energy security and net-zero transitions by 2050. The government initiative warns of potential supply shortfalls by 2028 (east coast) and 2030 (west coast), with producers cautioning that inadequate action may trigger energy price increases across the nation.

8. Norway – 116.6 Billion Cubic Meters

Norway serves as the world’s third-largest exporter and leading European producer of natural gas, supplying 30.3 percent of EU requirements in 2023. The Scandinavian nation strategically supplanted Russia post-invasion. In mid-2023, the government greenlit 19 extraction projects; May 2024 brought 37 new block licenses emphasizing sectoral importance to Norway and Europe.

Near-term projections indicate slight contraction: the October Norwegian Budget Bill forecasts 1.6 percent decline from 123 billion cubic meters in 2024 to 121 billion cubic meters in 2025.

9. Saudi Arabia – 114.1 Billion Cubic Meters

Saudi Arabia, the ninth-largest producer, witnessed steady output growth since 2013, peaking at 116.7 billion cubic meters in 2022. State-run Saudi Aramco contracts energy firms to develop the Jafurah unconventional field. Though currently non-exporting, the government plans export commencement by 2030, targeting crude oil and diesel replacement with natural gas and renewables.

Late 2023 marked Saudi Arabia’s LNG market entry as Aramco acquired MidOcean Energy stakes in four Australian LNG projects. July 2024 contracts valued at $12.6 billion advanced Jafurah field expansion.

10. Algeria – 101.5 Billion Cubic Meters

Algeria closes the top 10, producing 101.5 billion cubic meters in 2023, up from 97.6 billion cubic meters in 2022. The nation ranks fifth globally in LNG export capacity. In 2022, 85 percent of exports fed European demand. Italy negotiated increased imports through 2028, while late May hydrocarbon agreements with ExxonMobil and Baker Hughes target enhanced production and European export facilitation.

Natural Gas Fundamentals: Production and Applications

Composition and Formation

Natural gas comprises methane and naturally occurring gaseous mixtures. As fossil fuels created identically to crude oil, both materials frequently co-occur. Ancient organic matter decomposition, sediment mixing, burial and subsequent pressure-heat exposure over millions of years generates natural gas.

Extraction Methods

Wells drilled into subsurface rock formations or shale deposits via hydraulic fracturing technology extract natural gas. Post-extraction processing removes associated liquids including oil, hydrocarbon condensate and water, with further treatment meeting end-use quality and safe transmission specifications.

Diverse Applications

Natural gas fuels heating, electricity generation and vehicle propulsion. Industrial applications extend to manufacturing vinyl flooring, carpeting, aspirin and artificial limbs, while ammonia production depends fundamentally on natural gas feedstock.

Environmental Profile

Natural gas combustion generates lower greenhouse emissions and fewer pollutants compared to coal or oil, burning cleanly with minimal impurities. The EIA confirms natural gas produces substantially less carbon dioxide per equivalent heat unit than competing fossil fuels, though it remains a non-renewable resource.

Global Reserve Longevity

Current estimates suggest 53-year supply duration at existing consumption rates, excluding underdeveloped resources and undiscovered deposits in unexplored regions. Reserve magnitude variations depend critically on technological advancement and economic viability assessments.

Geopolitical Dimensions: Ukraine’s Impact on Energy Markets

Pre-invasion, Russia supplied approximately 40 percent of European natural gas, making the Ukraine conflict transformative for energy markets. The war accelerated natural gas market globalization as Europe diversified sourcing toward LNG suppliers. The US ascended as the world’s leading LNG exporter through expanded European shipments, reshaping traditional energy dependencies and regional power dynamics fundamentally.

European Energy Transition: Viability Without Russian Gas

The EU targets Russian natural gas elimination by 2027, relying upon alternative suppliers and expanded LNG flexibility. Norway remains Europe’s primary gas supplier, while North African producers and the US provide supplementary capacity, collectively ensuring European energy security throughout the transition period.