Top 10 Countries who Produce the Most Natural Gas (Cubic Meters 2022)
Top 10 Countries who Produce the Most Natural Gas (Cubic Meters 2022)

Top 10 Countries who Produce the Most Natural Gas (Cubic Meters 2022)

Russia has been the largest gas producing country for some time, things has change. Russia has the largest natural gas reserves in the world and exports more natural gas than any other country, shipping an estimated 238 billion cubic meters of gas in 2020. Natural gas for automotive use is highly encouraged in Russia.

natural gas

The global natural gas industry continues to see consistent growth over the last decade, led by the top 10 largest natural gas companies in the world. Since the financial crisis, demand and consumption have increased all over the world due to economies prospering.

Natural gas production has been rising since the economic crisis of 2009 with a compound annual growth rate of 2.8%. In terms of market performance, leading the way for the largest natural gas producers is China National Petroleum Corporation — the largest gas company in the world by revenue.

The top natural gas producers after CNPC are the Saudi-based Saudi Aramco and Royal Dutch Shell from the Netherlands & UK rounding out the top 10 largest natural gas companies in the world in 2022 by revenue. This post will breakdown the major natural gas companies in detail and answer the following questions about the industry:

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OPEC oil price

The 2022 annual average OPEC oil price stands at 102.52 U.S. dollars per barrel as of May. This is up from 69.72 U.S. dollars the previous year and comes in the wake of an energy supply shortage and sanctions on Russia following the Russia-Ukraine war.

The abbreviation OPEC stands for Organization of the Petroleum Exporting Countries and as of June 2021 it includes Algeria, Angola, Congo, Equatorial Guinea, Gabon, Iraq, Iran, Kuwait, Libya, Nigeria, Saudi Arabia, Venezuela, and the United Arab Emirates. The aim of the OPEC is to coordinate the oil policies of its member states. It was founded in 1960 in Baghdad, Iraq.

Top 10 Countries who Produce the Most Natural Gas (Cubic Meters 2022)

  1. United States — 914.6 billion
  2. Russia — 638.5 billion
  3. Iran — 250.8 billion
  4. China — 194 billion
  5. Qatar — 171.3 billion
  6. Canada — 165.2 billion
  7. Australia — 142.5 billion
  8. Saudi Arabia — 112.1 billion
  9. Norway — 111.5 billion
  10. Algeria — 81.5 billion

Leading global oil and gas producers based on revenue 2022

Sinopec (China Petroleum & Chemical Corporation) is the leading global oil and gas company by revenues generated. In its 2021 fiscal year, the Chinese state-owned enterprise generated 438.69 billion U.S. dollars in revenues.

A period of transformation

As we move into 2022, many oil and gas (O&G) companies are looking to reinvent themselves by practicing capital discipline, focusing on financial health, committing to climate change, and transforming business models. The positivity of such changes is reflected in our survey, where nearly two-thirds of O&G executives state they’re highly positive about strategic changes made by their organizations.

The journey of transformation has just begun for the industry, and simply managing or riding oil price cycles aren’t options anymore. Over the next 12 to 18 months, O&G strategists should:

Streamline and optimize their resource portfolios
Embrace and develop smart goals for the energy transition
Attract, train, and retain employees in a tight labor market
Come to terms with additional environmental, social, and governance (ESG) requirements

Purpose-driven, tech-enabled, and human-powered organizations with smart interim goals and progressive communication and disclosure strategies can make it happen. Our 2022 oil and gas industry outlook explores five trends, from M&A activity to fuel retailing, that will likely influence the direction of the industry over the next 12 months.

Top 10 Countries who Produce the Most Natural Gas (Cubic Meters 2022)

Nearly two-thirds of oil and gas executives were highly optimistic about the strategic changes made by their organizations in the past year. Does the future hold more strategic shifts to be hopeful about, and what’s in store for 2022 overall? Our annual mergers and acquisitions (M&A) outlook takes a closer look at five trends that could reshape the oil and gas deal making landscape in the year ahead.

Top 10 Countries who Produce the Most Natural Gas (Cubic Meters 2022)

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By Trinh

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