Global natural gas production reached a record high of ************* cubic meters in 2024, continuing a general upward trend that has persisted for decades. The increase in production aligns with rising global natural gas demand, which is projected to surpass ************ cubic meters by 2050, driven largely by consumption in the Asia Pacific region. Liquefied natural gas trade expands As natural gas production rises, so does the global trade in liquefied natural gas (LNG). In 2023, LNG trade volume reached *********** cubic meters, with the United States emerging as the world's largest LNG exporter. The growth in LNG trade is supported by increasing liquefaction capacity, which reached ************* metric tons in 2023, a ** percent increase since 2010, although growth has slowed in recent years. United States leads in production and exports The United States has solidified its position as the world's leading natural gas producer and exporter. In 2023, U.S. production reached approximately ************ cubic meters, accounting for roughly ********** of global production. It significantly outpaces Russia, the second-largest producer. U.S. production dominance extends to exports, with the U.S. shipping **** billion cubic meters via pipelines and ************* cubic meters as LNG in 2023.

As of 2024, the United States was the biggest producer of natural gas in the world. With a production of approximately ************* cubic meters that year, U.S. natural gas production was over *********** cubic meters more than the second biggest producer - Russia. These two nations are by far the biggest contributors to natural gas production on the planet. In 2024, global natural gas production reached a peak of ************* cubic meters. Global natural gas reserves Global proved natural gas reserves totaled nearly 209 trillion cubic meters in 2024. The Middle East and the Commonwealth of Independent States are home to the largest regional natural gas reserves. The country with the largest proved natural gas reserves is Russia, which holds *********** cubic meters in 2024. In the previous year, Russia’s state-owned energy group Gazprom held a **** percent share of global natural gas. Natural gas trade In addition to having the largest natural gas reserves, Russia is also one of the world’s leading gas exporting country. The majority of Russia’s gas exports are via pipelines, and in 2024 it exported approximately ************* cubic meters through this method. In comparison, Qatar is the third largest natural gas exporter, but is the leading LNG exporting country.

In 2023, North America was the biggest global natural gas production region, accounting for ** percent of the total global natural gas production. This figure is expected to decrease to ** percent by 2050.

United States Natural Gas Production: New-Well: Haynesville data was reported at 386.300 Cub ft/Day mn in Mar 2025. This records an increase from the previous number of 382.800 Cub ft/Day mn for Feb 2025. United States Natural Gas Production: New-Well: Haynesville data is updated monthly, averaging 492.300 Cub ft/Day mn from Jan 2013 (Median) to Mar 2025, with 147 observations. The data reached an all-time high of 1,009.700 Cub ft/Day mn in Jan 2023 and a record low of 171.800 Cub ft/Day mn in Sep 2016. United States Natural Gas Production: New-Well: Haynesville data remains active status in CEIC and is reported by U.S. Energy Information Administration. The data is categorized under Global Database’s United States – Table US.RB011: Natural Gas Production: by Region.

The world's production of conventional natural gas totaled ***** billion cubic meters (bcm) in 2022, while that of unconventional gas amounted to ***** bcm. Global production of both types of gas are projected to reach a combined output of ***** bcm in 2030 under a stated policies (STEP) scenario, which is based on current policies and those under development. However, total production would drop to some ***** bcm under a net-zero emissions by 2050 scenario. The same scenario would see net trade of liquified natural gas increase globally between 2022 and 2030.

Natural Gas Production Change:: Existing: Bakken data was reported at -44.000 Cub ft/Day mn in Mar 2025. This records an increase from the previous number of -50.000 Cub ft/Day mn for Feb 2025. Natural Gas Production Change:: Existing: Bakken data is updated monthly, averaging -37.000 Cub ft/Day mn from Jan 2013 (Median) to Mar 2025, with 147 observations. The data reached an all-time high of 52.000 Cub ft/Day mn in Oct 2020 and a record low of -190.000 Cub ft/Day mn in Apr 2020. Natural Gas Production Change:: Existing: Bakken data remains active status in CEIC and is reported by U.S. Energy Information Administration. The data is categorized under Global Database’s United States – Table US.RB011: Natural Gas Production: by Region.

The average for 2023 based on 189 countries was 0.802 quadrillion Btu. The highest value was in the USA: 39.164 quadrillion Btu and the lowest value was in Antigua and Barbuda: 0 quadrillion Btu. The indicator is available from 1980 to 2023. Below is a chart for all countries where data are available.

United States Natural Gas Production: Dry Gas data was reported at 2,640.230 Cub ft bn in Aug 2018. This records an increase from the previous number of 2,585.113 Cub ft bn for Jul 2018. United States Natural Gas Production: Dry Gas data is updated monthly, averaging 1,590.388 Cub ft bn from Jan 1973 (Median) to Aug 2018, with 548 observations. The data reached an all-time high of 2,640.230 Cub ft bn in Aug 2018 and a record low of 1,222.287 Cub ft bn in Sep 1986. United States Natural Gas Production: Dry Gas data remains active status in CEIC and is reported by Energy Information Administration. The data is categorized under Global Database’s United States – Table US.RB010: Natural Gas Production.

United States Natural Gas Production: Gross Withdrawals data was reported at 3,178.843 Cub ft bn in Aug 2018. This records an increase from the previous number of 3,106.695 Cub ft bn for Jul 2018. United States Natural Gas Production: Gross Withdrawals data is updated monthly, averaging 1,985.836 Cub ft bn from Jan 1980 (Median) to Aug 2018, with 464 observations. The data reached an all-time high of 3,178.843 Cub ft bn in Aug 2018 and a record low of 1,449.958 Cub ft bn in Sep 1986. United States Natural Gas Production: Gross Withdrawals data remains active status in CEIC and is reported by Energy Information Administration. The data is categorized under Global Database’s United States – Table US.RB010: Natural Gas Production.

Global Natural Gas market size is expected to reach $1670.84 billion by 2029 at 7.3%, segmented as by type, transport, industrial, electric power, and other types

This study focuses on the storage of natural gas in the gaseous form and as liquefied natural gas (LNG). The study examines the underlying investment opportunities that are inherent in the development of the natural gas industry in which storage of gas is a key consideration.

This dataset contains World Natural Gas Production By Category, Data from US Energy Information Administration. Export API data for more datasets to advance energy economics research

The US natural gas market, a significant component of the global energy landscape, is projected to experience robust growth over the forecast period (2025-2033). Driven by increasing demand from the power generation sector, a shift towards cleaner energy sources (compared to coal), and ongoing industrialization, the market is poised for expansion. The abundance of shale gas reserves within the US contributes significantly to this growth, making the nation a key player in global natural gas production and trade. While challenges exist, such as fluctuating prices influenced by global supply chains and environmental concerns regarding methane emissions, technological advancements in extraction and infrastructure development are mitigating these risks. The residential sector also contributes to market growth, albeit at a slower rate compared to power generation and industrial applications. Competition among major players like ExxonMobil, Chevron, and ConocoPhillips, fuels innovation and efficiency improvements within the industry. The market segmentation by gas type (wet and dry) further reflects the diverse applications and evolving needs of consumers and industries. Assuming a conservative CAGR of 5% based on the provided information, and a 2025 market size of approximately $300 billion (a reasonable estimate considering the scale of the US energy market), we can project substantial growth throughout the forecast period. Growth is expected to be most pronounced in regions with strong industrial activity and expanding power grids. The specific growth trajectory will depend on factors such as government policies promoting natural gas utilization (or potentially phasing it out), technological advancements, and global geopolitical events impacting energy prices. Nonetheless, the US natural gas market is expected to maintain its position as a major contributor to the national energy supply and a significant player in the global energy market. Further analysis of specific segments (e.g., wet vs. dry natural gas within each end-use sector) would provide more granular insights into market dynamics and investment opportunities. The overall outlook remains positive, projecting significant value creation and economic benefits over the next decade. Recent developments include: May 2022: According to the US Energy Information Administration, the Natural Gas Pipeline Project Tracker was updated with recent approvals and completions of pipeline projects. As of the end of the first quarter of 2022, the Federal Energy Regulatory Commission (FERC) approved three projects to increase the export of US natural gas by pipeline and LNG. FERC approved two projects connecting LNG terminals in Louisiana. The Evangeline Pass Expansion Project, owned by Tennessee Gas Pipeline Company, is 1.1 billion cubic feet in size. It is intended that the proposed Plaquemines LNG Project in Plaquemines Parish, Louisiana, be supplied with natural gas by constructing 13.1 miles of new pipeline and two new compressor stations., April 2022: TotalEnergies signed a Heads of Agreement (HOA) with Sempra Infrastructure, Mitsui & Co., Ltd., and Japan LNG Investment for the expansion of Cameron LNG, a liquefied natural gas (LNG) production and export facility located in Louisiana, United States. The expansion project includes the development of a fourth train with a production capacity of 6.75 million metric tons per annum (Mtpa), as well as the debottlenecking of the first three trains to increase production by 5%.. Notable trends are: Power Generation Segment to Dominate the Market.

This dataset contains information about world oil production for OPEC, OECD and the major non-OPEC producers. for 1983-2021. Data from Saudi Central Bank (SAMA). Follow datasource.kapsarc.org and it’s APIs to stay in sync and advance energy economics research.Note:* Including Condensates and Natural gas liquids

According to Cognitive Market Research, the global Natural Gas Liquids market size will be USD 17542.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 5.60% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 7016.88 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.8% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 5262.66 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 4034.71 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.6% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 877.11 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.0% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 350.84 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.3% from 2024 to 2031.
The ethane category is the fastest growing segment of the Natural Gas Liquids industry

Market Dynamics of Natural Gas Liquids Market

Key Drivers for Natural Gas Liquids Market

Increasing Petrochemical Industry to Boost Market Growth

The market for natural gas liquids (NGL) is mostly driven by the expanding petrochemical sector. Natural gas liquids (NGLs) like ethane, propane, and butane are vital raw materials for the synthesis of petrochemicals like ethylene and propylene, which are extensively utilized in the creation of synthetic materials, chemicals, and plastics. The need for NGLs is rising due to the petrochemical industry's explosive growth, particularly in North America and Asia. The utilization of NGLs in a variety of applications is growing as a result of growing industrialization and technological developments in chemical processing. The global need for consumer goods, packaging, and industrial materials is driving the petrochemical industry's growth, which in turn will fuel the NGL market's long-term growth.

The Surge in Shale Gas Production to Drive Market Growth

The market for natural gas liquids (NGL) is growing as a result of increased shale gas output. Production of NGLs, including ethane, propane, and butane, has expanded because of the spike in shale gas extraction, especially in North America, through horizontal drilling and hydraulic fracturing technology. These liquids are frequently left over after natural gas from shale formations is extracted. In order to fulfill growing global demand, the U.S. shale boom has improved export prospects and supported local NGL supplies. The supply of NGLs is directly increased by the ongoing expansion of shale gas production, which fosters the long-term growth of the NGL market by meeting the increasing demand from sectors such as transportation, energy, and petrochemicals.

Restraint Factor for the Natural Gas Liquids Market

Price Volatility for Crude Oil Will Limit Market Growth

The volatility of crude oil prices severely constrains

The natural gas liquids (NGL) market. Because NGLs are frequently extracted in conjunction with crude oil and natural gas, changes in oil prices have an immediate effect on how profitable it is to produce NGLs. Oil and gas companies may cut back on drilling when crude oil prices drop, which lowers the output of NGLs. Furthermore, a decline in oil prices may increase the appeal of alternative energy sources, which would lessen the market for NGLs. On the other hand, sudden spikes in oil prices can cause market instability and increase the operational expenses for NGL producers. It is difficult for NGL market participants to sustain consistent growth because of this price volatility, which also makes long-term planning more difficult and causes investor concern.

Impact of Covid-19 on the Natural Gas Liquids Market

The COVID-19 pandemic had a substantial effect on the natural gas liquids (NGL) market because it caused supply chain disruptions on a worldwide scale, decreased energy consumption, and a steep reduction in industrial activity. Lockdowns and limitations reduced the demand for NGLs, especially in the transportation and petrochemical sectors, which are big users of butane, propane, and ethane. The demand for NGLs as alter...

Global oil and gas production companies have gone through significant turbulence for most of the period. The pandemic and its accompanying lockdowns severely disrupted producers as revenue fell double digits and the industry's largest market, the transportation sector, was limited. This was quickly reversed as the economy opened and supply outpaced demand, causing prices to skyrocket. High prices, accompanied by swelling production, led to surging revenue. While prices eventually came back down late in the period, they remained high. Overall revenue has pushed up at a CAGR of 6.0% to $4.2 trillion through the end of 2024, including a slight 1.9% uptick in 2024 alone. Profit also surged as purchase costs came down. Emerging markets in BRIC nations, Southeast Asia and Africa continue to drive growth because of rapid industrialization and population increases, heightening the need for crude oil, natural gas and related downstream products. Even so, the gradual shift toward renewable energy poses challenges for producers, as many countries have implemented regulations and incentives to promote clean energy use. Geopolitical tensions and the uncertainties stemming from the global pandemic underscore the importance of diversifying supply sources to ensure energy security. Overall, industry revenue is set to push down at a CAGR of 3.6% to $3.5 trillion through the end of 2029. The bulk of this period will be highlighted by more efforts in oil and gas exploration and production in emerging markets, potentially transforming these regions into major global producers. Even so, the excess supply of oil and gas, combined with the push for sustainability, will drive prices down, leading to revenue contractions.

Natural Gas Production Change:: Existing: Permian data was reported at -654.000 Cub ft/Day mn in Mar 2025. This records a decrease from the previous number of -641.000 Cub ft/Day mn for Feb 2025. Natural Gas Production Change:: Existing: Permian data is updated monthly, averaging -347.000 Cub ft/Day mn from Jan 2013 (Median) to Mar 2025, with 147 observations. The data reached an all-time high of -74.000 Cub ft/Day mn in Apr 2016 and a record low of -716.000 Cub ft/Day mn in Jan 2020. Natural Gas Production Change:: Existing: Permian data remains active status in CEIC and is reported by U.S. Energy Information Administration. The data is categorized under Global Database’s United States – Table US.RB011: Natural Gas Production: by Region.

Snapshot img { margin: 10px !important; } The global natural gas market has the potential to grow by USD 137.51 billion during 2020-2024, and the market’s growth momentum will accelerate throughout the forecast period because of the steady increase in year-over-year growth.

This report provides a detailed analysis of the market by resource type (conventional and unconventional) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including BP Plc, Chevron Corp., ConocoPhillips Co., Exxon Mobil Corp., PetroChina Co. Ltd., PJSC Gazprom, Royal Dutch Shell Plc, Saudi Arabian Oil Co., Suncor Energy Inc., and TOTAL SA.

Market Overview

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Market Competitive Analysis

The natural gas market is currently highly fragmented, and the degree of fragmentation will remain the same during the forecast period. Vendors are focusing on unconventional exploration and production activities to increase revenue generation. BP Plc, Chevron Corp., ConocoPhillips Co., and Exxon Mobil Corp. are some of the major market participants. Although the investments in upstream projects will offer immense growth opportunities, the environmental concerns related to drilling will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market positions, this natural gas market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this natural gas market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading natural gas companies, including:

BP Plc
Chevron Corp.
ConocoPhillips Co.
Exxon Mobil Corp.
PetroChina Co. Ltd.
PJSC Gazprom
Royal Dutch Shell Plc
Saudi Arabian Oil Co.
Suncor Energy Inc.
TOTAL SA

Natural Gas Market: Segmentation by Region

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North America was the largest market for natural gas in 2019, and the region will continue to offer maximum growth opportunities to vendors. The natural gas production output in North America has increased significantly in recent years owing to unconventional exploration and production activities, such as drilling, in shale reserves in the region.

Over 36% of the market’s growth will originate from North America during the forecast period. The growing number of onshore and offshore natural gas projects and rising investments and initiatives undertaken by various governments will contribute to the natural gas market size growth in the region. The US and Canada are the key markets for natural gas in North America. Market growth in this region will be faster than the growth of the market in other geographies.

Natural Gas Market: Segmentation by Resource Type

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Oil and natural gas production from conventional resources hold a significant share in the oil and gas industry. The availability of conventional resources of natural gas is high in natural gas-producing countries such as Russia, Iran, Qatar, and China. The rising demand for natural gas and increasing investments in the upstream sector are driving the growth of the global natural gas market by the conventional segment.

However, market growth by the conventional segment will be slower than the growth of the market by the unconventional segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the natural gas market size.

Natural Gas Market: Key Drivers and Trends

The growing population and industrial development have been increasing the demand for energy across the world. Therefore, many countries are exploring untapped oil and gas resources with the help of technological advances in the oil and gas industry. Moreover, oil and gas operators are increasingly investing in mature oil and gas fields to overcome the issue of declining conventional oilfields and maximize their revenue. Such increasing investments in the upstream oil and gas sector across the world

The average for 2023 based on 43 countries was 0.722 quadrillion Btu. The highest value was in Russia: 23.271 quadrillion Btu and the lowest value was in Belgium: 0 quadrillion Btu. The indicator is available from 1980 to 2023. Below is a chart for all countries where data are available.

This dataset from the British Geological Survey (BGS) provides annual data on global natural gas production from 1970 to 2022, including production figures in million cubic meters.