The United States, Russia and Iran are ranked as the world’s leading producers of natural gas in 2022.

With 978.6 billion cubic meters, the United States ranks first, followed by Russia (618.4 billion) and Iran (259.4 billion).

According to Exxon Mobil, natural gas is a versatile, practical, low-emission fuel for a wide variety of applications, and is expected to grow more than any type of primary energy between 2021 and 2050, meeting about 40% of the growth in global energy demand. 

At the same time, global demand for natural gas is expected to go up by nearly 25% between 2021 and 2050. Of this increase, about 75% will come from the Asia Pacific region.

In total, about 50% of the growth in natural gas supply is expected to come from unconventional sources. 

Natural gas

Other major producers of this energy in 2022 are: China (221.8 billion cubic meters), Canada (185 billion), Qatar (178.4 billion), Australia (152.8 billion), Norway (122.8 billion), Saudi Arabia (120.4 billion) and Algeria (98.2 billion).

Exxon Mobil predicts that conventionally produced natural gas will remain the main source of global supply. In fact, it will cover about 75% of the world’s demand by 2050.

At the same time, LNG trade will grow a lot and meet around 50% of the increase in global demand. A large part of this supply will help meet the rising demand in Asia-Pacific.

Natural gas provides about one-third of the energy used in the U.S. Mainly, it is used for heating and generating electricity.

Its prices are effectively determined by the NYMEX, ICE and over-the-counter markets. Prices on the NYMEX, CME, ICE and over-the-counter markets generally reflect the national balance of natural gas supply and demand, but are also significantly influenced from time to time by other events.