Looking at the global natural gas reserves ranking, an interesting phenomenon jumps out: the top three in reserves are Russia, Iran, and Qatar. Ironically, when it comes to actual profits and national strength enhancement, Qatar takes the lead—this underlying logic is worth a deep dive.

First, let's discuss the uniqueness of natural gas as an energy source. Unlike crude oil, which has strong global liquidity, the natural gas market is highly concentrated in a few countries. The top four in reserves are Russia, Iran, Qatar, and Turkmenistan. Especially Qatar, a tiny country that manages to squeeze into the top three, which itself indicates the randomness of reserves and the mysterious nature of national fortune.

But the reality is quite harsh: besides Qatar, which has become wealthy through natural gas, other resource-rich countries are not doing well. Iran, with the second-largest reserves in the world, holds less than 1% of the global market share. Looking at Russia, once a major exporter of natural gas, now faces a closed European market, making the situation quite awkward. What is going on here?

The key lies in two points: geopolitical factors and technological investment. Having resources means you can sell them? That's too naive. Why does Qatar do so well? Because it is the world's largest LNG producer, maintains good relations everywhere, signs long-term contracts with many countries, and although some capacity is kept in reserve, it firmly holds its market share. Buyers can find Qatar's natural gas everywhere, so why risk political issues to deal with Iran?

Competition among resource-rich countries is actually very fierce. When a major buyer signs a contract with you, your competitors lose business. That’s why reserves themselves are not that important; who can control the buyer is crucial. Selling natural gas sounds good, but ultimately, it’s about playing the role of a reliable seller: politically trustworthy, technologically advanced, and providing good service.

Russia and Iran, despite their abundant resources, often face setbacks in international competition. Little do they realize that in an era of resource surplus, if you can't sell, your resources become waste. The world doesn't lack natural gas; what it lacks is long-term trustworthy suppliers. That’s why Qatar, despite having relatively limited resources, can maximize its share of the market.

From another perspective, this logic has universal significance in global energy trade. True national strength doesn't lie in resource abundance but in who can become a stable, trustworthy supplier. Controlling buyer channels, maintaining international relations, and continuous technological investment often matter more than reserve numbers in determining long-term profits.