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Natural gas industry worldwide - Statistics & facts

Natural gas is a type of fossil fuel that mainly consists of methane gas and other flammable hydrocarbons. It is formed over the span of millions of years when plant and animal remains, as well as sand and silt have built up under heat and pressure. This process forms the various types of fossil fuels such as coal and oil, in addition to natural gas. In the case of natural gas, the byproduct of this process has moved into large cracks and spaces within rock layers and can also be found in tiny pores within sedimentary rock formations (the latter of which is known as shale gas). Accordingly, this globally important source of energy comprised of hydrogen and carbon compounds is found in reservoirs underneath the Earth's surface, with the greatest proved reserves found in the Middle East.

The global production of natural gas steadily increased from 2.27 trillion cubic meters in 1998 to nearly four trillion cubic meters in 2019. Global natural gas consumption closely mirrors production levels, and in 2019 amounted to 3.9 trillion cubic meters.

The United States is the world's largest natural gas producer, having extracted 863 billion cubic meters in 2018, and is also the world's largest natural gas consumer, with a consumption of 848.6 billion cubic meters in that year. However, despite being the greatest producer, it is interesting to note that the U.S. only ranks as the fifth-largest country by proved natural gas reserves, with Russia taking the lead.

Costs for purchasing this commodity tend to be lower in producer countries. This is particularly noticeable when comparing monthly natural gas prices in the U.S. and Europe. Europeans often pay twice as much for natural gas as U.S. residents, although the gap has shrunk in the last two years. A particularly noticeable increase in U.S. natural gas prices occurred in February 2021 due to winter storm Uri leaving millions of electricity customers in Texas, an important production and refinery hub, without power.

Key figures

The most important key figures provide you with a compact summary of the topic of "Global natural gas industry" and take you straight to the corresponding statistics.

Reserves & production

Trade & prices

Companies

Consumption

Interesting statistics

In the following 7 chapters, you will quickly find the {amountStatistics} most important statistics relating to "Global natural gas industry".

Natural gas industry worldwide

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Natural gas industry worldwide - Statistics & facts

Natural gas is a type of fossil fuel that mainly consists of methane gas and other flammable hydrocarbons. It is formed over the span of millions of years when plant and animal remains, as well as sand and silt have built up under heat and pressure. This process forms the various types of fossil fuels such as coal and oil, in addition to natural gas. In the case of natural gas, the byproduct of this process has moved into large cracks and spaces within rock layers and can also be found in tiny pores within sedimentary rock formations (the latter of which is known as shale gas). Accordingly, this globally important source of energy comprised of hydrogen and carbon compounds is found in reservoirs underneath the Earth's surface, with the greatest proved reserves found in the Middle East.

The global production of natural gas steadily increased from 2.27 trillion cubic meters in 1998 to nearly four trillion cubic meters in 2019. Global natural gas consumption closely mirrors production levels, and in 2019 amounted to 3.9 trillion cubic meters.

The United States is the world's largest natural gas producer, having extracted 863 billion cubic meters in 2018, and is also the world's largest natural gas consumer, with a consumption of 848.6 billion cubic meters in that year. However, despite being the greatest producer, it is interesting to note that the U.S. only ranks as the fifth-largest country by proved natural gas reserves, with Russia taking the lead.

Costs for purchasing this commodity tend to be lower in producer countries. This is particularly noticeable when comparing monthly natural gas prices in the U.S. and Europe. Europeans often pay twice as much for natural gas as U.S. residents, although the gap has shrunk in the last two years. A particularly noticeable increase in U.S. natural gas prices occurred in February 2021 due to winter storm Uri leaving millions of electricity customers in Texas, an important production and refinery hub, without power.

Interesting statistics

In the following 7 chapters, you will quickly find the {amountStatistics} most important statistics relating to "Global natural gas industry".

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