The Middle East is the world's region with the highest natural gas reserves to production ratio, while North America has the lowest, at *** and ** years, respectively. This means that at the current level of production, natural gas reserves in the Middle East will last around another *** years before being depleted.

In 2020, the ratio of global natural gas reserves to production, measured in years, was ****. This means that at the current level of production, global natural gas reserves will last another approximate 50 years before being depleted.

Global Total Support on Natural Gas for Fossil Fuel Production Share by Country (Million US Dollars, Constant = 2020), 2023 Discover more data with ReportLinker!

In 2020, the country had reserves of about **** trillion cubic meters of natural gas. According to the source, proved reserves of natural gas are generally taken to be those quantities that geological and engineering information indicates with reasonable certainty can be recovered in the future from known reservoirs under existing economic and operating conditions.

Natural Gas Production per Rig: New-Well: Haynesville data was reported at 0.010 Cub ft/Day bn in Apr 2020. This records an increase from the previous number of 0.010 Cub ft/Day bn for Mar 2020. Natural Gas Production per Rig: New-Well: Haynesville data is updated monthly, averaging 0.005 Cub ft/Day bn from Jan 2007 (Median) to Apr 2020, with 160 observations. The data reached an all-time high of 0.011 Cub ft/Day bn in Jan 2019 and a record low of 0.001 Cub ft/Day bn in Jan 2007. Natural Gas Production per Rig: New-Well: Haynesville 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: by Region.

Pakistan Natural Gas Reserves: Cumulative Production data was reported at 41.097 Cub ft tn in 2020. This records an increase from the previous number of 39.750 Cub ft tn for 2019. Pakistan Natural Gas Reserves: Cumulative Production data is updated yearly, averaging 32.914 Cub ft tn from Jun 2009 (Median) to 2020, with 12 observations. The data reached an all-time high of 41.097 Cub ft tn in 2020 and a record low of 24.645 Cub ft tn in 2009. Pakistan Natural Gas Reserves: Cumulative Production data remains active status in CEIC and is reported by Hydrocarbon Development Institute of Pakistan. The data is categorized under Global Database’s Pakistan – Table PK.RB004: Natural Gas Statistics.

United States Legacy Natural Gas Production Change: Niobrara data was reported at -195.220 Cub ft/Day bn in Apr 2020. This records a decrease from the previous number of -192.499 Cub ft/Day bn for Mar 2020. United States Legacy Natural Gas Production Change: Niobrara data is updated monthly, averaging -123.170 Cub ft/Day bn from Jan 2007 (Median) to Apr 2020, with 160 observations. The data reached an all-time high of -85.141 Cub ft/Day bn in Jan 2007 and a record low of -195.220 Cub ft/Day bn in Apr 2020. United States Legacy Natural Gas Production Change: Niobrara 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: by Region.

United States Legacy Natural Gas Production Change: Permian data was reported at -434.237 Cub ft/Day bn in Apr 2020. This records a decrease from the previous number of -428.905 Cub ft/Day bn for Mar 2020. United States Legacy Natural Gas Production Change: Permian data is updated monthly, averaging -124.518 Cub ft/Day bn from Jan 2007 (Median) to Apr 2020, with 160 observations. The data reached an all-time high of -88.855 Cub ft/Day bn in Jan 2010 and a record low of -434.237 Cub ft/Day bn in Apr 2020. United States Legacy Natural Gas Production Change: Permian 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: by Region.

In 2020, Libya had an estimated share of **** percent of global natural gas reserves. This was the same share as the previous year, both of which were the lowest shares for the years under review.

United States Natural Gas: Proved Reserves: Alabama data was reported at 1,333.000 Cub ft bn in 2021. This records a decrease from the previous number of 1,530.000 Cub ft bn for 2020. United States Natural Gas: Proved Reserves: Alabama data is updated yearly, averaging 3,922.000 Cub ft bn from Dec 1979 (Median) to 2021, with 35 observations. The data reached an all-time high of 5,870.000 Cub ft bn in 1992 and a record low of 682.000 Cub ft bn in 1980. United States Natural Gas: Proved Reserves: Alabama 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.RB036: Natural Gas Proved Reserves.

Norway is by far the leading natural gas producing country in Europe. In December 2022, Norway produced **** billion cubic meters (bcm) of natural gas. By comparison, the United Kingdom produced *** bcm of natural gas that month, followed by the Netherlands at *** bcm.

Afghanistan: Natural gas production: The latest value from 2020 is 0.003 quadrillion Btu, a decline from 0.005 quadrillion Btu in 2019. In comparison, the world average is 0.759 quadrillion Btu, based on data from 190 countries. Historically, the average for Afghanistan from 1980 to 2020 is 0.03 quadrillion Btu. The minimum value, 0.001 quadrillion Btu, was reached in 2003 while the maximum of 0.111 quadrillion Btu was recorded in 1988.

Russia has the largest proved natural gas reserves in the world. As of 2023, it held reserves worth ************* standard cubic meters worth of the fossil fuel. Iran and Qatar followed, with more than ** and *********** cubic meters, respectively. Notable new discoveries have been made since 1960, when known reserves were only a fraction of what they are today. Determining proved reserves Used as a source of energy generation and a feedstock in the chemicals industry, natural gas serves various purposes. It is mainly transported in gaseous form via pipelines, but may be shipped via tanker vessels once liquefied. Proved reserves is a measure used to establish recoverable resource volumes. These are linked to known reservoirs and estimated through exploratory drilling. Since 1960, global proved natural gas reserves increased more than ********, reaching a new peak at ************ cubic meters in 2023. Of these, the majority are located in the Middle East. U.S. is world's largest natural gas producer The United States is the world’s largest natural gas producer, despite proved reserves being only a ***** of Russia's. In 2023, the U.S. was responsible for nearly ************ cubic meters of natural gas being extracted. This compared to a production volume of some *********** cubic meters by Russia.

United States Legacy Natural Gas Production Change: Anadarko data was reported at -353.612 Cub ft/Day bn in Apr 2020. This records a decrease from the previous number of -349.263 Cub ft/Day bn for Mar 2020. United States Legacy Natural Gas Production Change: Anadarko data is updated monthly, averaging -190.261 Cub ft/Day bn from Jan 2007 (Median) to Apr 2020, with 160 observations. The data reached an all-time high of -112.108 Cub ft/Day bn in Jan 2007 and a record low of -353.612 Cub ft/Day bn in Apr 2020. United States Legacy Natural Gas Production Change: Anadarko 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: by Region.

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The floating liquefied natural gas market share is expected to increase by USD 4.68 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 6.12%.

This floating liquefied natural gas market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers floating liquefied natural gas market segmentations by processing capacity (large-scale capacity and small-scale capacity) and geography (North America, Europe, APAC, South America, and MEA). The floating liquefied natural gas market report also offers information on several market vendors, including Black & Veatch Holding Co., Eni Spa , Excelerate Energy LP, EXMAR NV, Golar LNG Ltd., Lloyds Energy DMCC, Petroliam Nasional Berhad , Royal Dutch Shell Plc, Samsung Heavy Industries Co. Ltd., and TechnipFMC Plc among others.

What will the Floating Liquefied Natural Gas Market Size be During the Forecast Period?

Download Report Sample to Unlock the Floating Liquefied Natural Gas Market Size for the Forecast Period and Other Important Statistics

Floating Liquefied Natural Gas Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The rising global oil and gas consumption is notably driving the floating liquefied natural gas market growth, although factors such as fluctuations in oil and gas prices may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the floating liquefied natural gas industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Floating Liquefied Natural Gas Market Driver

Rising global oil and gas consumption is one of the key factors driving the growth of the global floating liquefied natural gas market. Liquid fuel consumption across the globe, especially in emerging economies such as India, China, and Brazil, is expected to grow, owing to the increasing demand for vehicles and a rise in the consumption of petrochemicals. For instance, according to the US Energy Information Administration (EIA), in 2019, the production of petroleum and other liquid fuels in Brazil averaged 3.7 million barrels per day (b/d). Similarly, natural gas consumption has also seen a rise in the last ten years. According to the US Energy Information Administration (EIA), global natural gas consumption increased significantly in 2019. Natural gas has witnessed a higher rise in consumption than oil due to the increasing adoption of natural gas as a fuel. Also, with the increased consumption of fuel from developing economies such as India and China, the demand for LNG is likely to propel during the forecast period, thereby increasing the demand for FLNG projects during the forecast period.

Key Floating Liquefied Natural Gas Market Trend

The rise in the number of deepwater and ultra-deepwater drilling projects will fuel the global floating liquefied natural gas market growth. As per the US Energy Information Administration, the oil shock resulted in the decline of crude oil prices in early 2020 due to the COVID-19 pandemic, which was one of the lowest since 2003. Also, the prices of the rigs were reduced due to the fewer number of ongoing projects in the oil and gas industry. Sensing profit through low rig rates, some companies are resuming their offshore projects. FLNG vessels provide the advantages of reduced investments and earlier cash flow compared with fixed platforms. The advantages of FLNG vessels make them ideal for offshore activities. Deepwater and ultra-deepwater projects are also far from the mainland; hence, laying an extensive oil and gas pipeline network to transfer the produced hydrocarbons to onshore facilities is too costly. Therefore, FLNG vessels are economical for deepwater and ultra-deepwater projects, as these vessels can treat, liquefy, and store the natural gas extracted from offshore fields. Operators sell the LNG directly from the vessel and generate revenues. Advances in technology allowed exploring gas reserves that were initially uneconomical. This is likely to drive the global FLNG market during the forecast period.

Key Floating Liquefied Natural Gas Market Challenge

Fluctuations in oil and gas prices are major challenges for the global floating liquefied natural gas market growth. The continued trend of low crude oil prices has put additional pressure on the oil and gas service providers. Low-profit margins for a continued period result in reduced revenues, which directly influence the financial aspect of a company. The market potential for oil and gas service businesses has declined due to the low investments in oil and gas projects. As t

United States Legacy Natural Gas Production Change: Appalachia data was reported at -993.069 Cub ft/Day bn in Apr 2020. This records an increase from the previous number of -994.316 Cub ft/Day bn for Mar 2020. United States Legacy Natural Gas Production Change: Appalachia data is updated monthly, averaging -345.540 Cub ft/Day bn from Jan 2007 (Median) to Apr 2020, with 160 observations. The data reached an all-time high of -14.578 Cub ft/Day bn in Dec 2007 and a record low of -1,000.654 Cub ft/Day bn in Jun 2019. United States Legacy Natural Gas Production Change: Appalachia 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: by Region.

In 2020, Russia had proved reserves of **** trillion cubic meters of natural gas, up from **** trillion cubic meters recorded a decade earlier. Russia was the country with the largest proved natural gas reserves in that year, accounting for nearly one fifth of that fossil fuel’s total reserves worldwide.

Where are Russian gas reserves located?

According to CDU TEK, Urengoy and Yamburg gas fields are the largest gas fields in Russia, with ** and *** trillion cubic meters of reserves, respectively. Both are operated by subsidiaries of Russia’s leading gas producer Gazprom. They are positioned in the Yamalo-Nenets Autonomous Okrug, in the West Siberian petroleum basin of the Ural Federal District, which is the country's federal district with the largest natural gas production volume. In general, Gazprom owned most of its natural gas reserves in the region.

How much natural gas does Russia produce each year?

Russia produced ***** billion cubic meters of natural gas in 2029, increasing its output by around nine percent compared to the previous year. Russia was the second-largest producer of natural gas worldwide after the United States.

United Arab Emirates Natural Gas Production data was reported at 109,029.160 Cub m mn in 2020. This records a decrease from the previous number of 109,867.540 Cub m mn for 2019. United Arab Emirates Natural Gas Production data is updated yearly, averaging 74,630.000 Cub m mn from Dec 1994 (Median) to 2020, with 27 observations. The data reached an all-time high of 109,867.540 Cub m mn in 2019 and a record low of 34,360.000 Cub m mn in 1994. United Arab Emirates Natural Gas Production data remains active status in CEIC and is reported by Federal Competitiveness and Statistics Centre. The data is categorized under Global Database’s United Arab Emirates – Table AE.RB005: Natural Gas Production and Reserves.

Global proved natural gas reserves amounted to some *** trillion standard cubic meters in 2024. Since 1960, continued growth in the exploration & production industry has resulted in the combined volume of known reserves increasing more than *******, surpassing *** trillion cubic meters in 2011. Natural gas reserves by region and country Proved reserves indicate the amount of a resource that can be produced economically under current prices and available technologies. Reserves can change annually with new discoveries and thorough appraisal of existing fields. The majority of the world’s natural gas reserves are located in the Middle East. Russia is the country with the largest share of global natural gas reserves. Natural gas production in the U.S. The United States has experienced a relatively large surge in proved natural gas reserves, reaching record numbers from the 2010s onward. Most of these new reserves have been found in shale deposits in Pennsylvania, Western Virginia, and Texas. The U.S. has also increased production output due to increased use of hydraulic fracturing (“fracking”) and horizontal drilling. U.S. shale gas production is forecast to grow even further in the coming decades and reach nearly ** trillion cubic feet by 2050.