Top 5 Natural Gas Producers in The World
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- May 20, 2019 4:58 pm GMT
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Gas demand has seen a steady rise worldwide in recent years. So, it seems obvious that the entire natural gas industry will benefit from this demand.
But there are certain large producers who are the biggest beneficiaries of growth in this sector.
Russia’s largest natural gas producer, Gazprom accounts for 68% of the country’s total production. In 2017, it was the number one natural gas producer, contributing 12% to the total global supply in that year.
The world’s largest supply of natural gas reserves; also known as gas supplies in the ground; is owned by Gazprom. They account for 17% of the total global reserves. Gazprom, thus, has the potential to produce large amounts of natural gas for the next many years.
Royal Dutch Shell
In 2016, Royal Dutch Shell became the second largest gas producer after spending $70 billion and buying BG group. This boosted the natural gas production rate of Shell by 25%, in addition to vast gas reserves and a large-scale LNG business.
Largest supplies produced by Shell come from Norway, Malaysia, Australia, the U.S. and Canada. Apart from fulfilling the gas needs of the population, Shell is a dominant force in the LNG industry across the world.
Exxon is majorly considered an oil producer by investors, but it is a major player in the natural gas industry as well. Like Shell, Exxon is a natural gas producer with a global existence. The US and Asia are two of its largest supply regions.
After EQT Corp, Exxon is the second largest natural gas producer in the US right now. EQT Corp achieved the spot when it acquired Rice Energy last year.
Exxon owns a subsidiary known as XTO Energy, which is the largest holder of natural gas reserves in the US, having 150 TCF (trillion cubic feet) of gas reserves in North America.
Exxon also has LNG assets all over the world.
The public arm of the state owned China National Petroleum Corporation is known as PetroChina. Producing 70% of the country’s total gas supply, it is China’s largest natural gas producer along with being the country’s second-largest oil producer.
Currently, China is the world’s second-largest consumer of oil and the third-largest consumer of gas. PetroChina caters to the energy needs of China by producing a massive 92.1% of gas and 83.8% oil of the country.
A diversified, global oil and gas company like Exxon and Shell, the oil companies of BP have made news way more than the gas companies. But BP is still one of the world leaders in natural gas production.
The company is currently producing a major portion of its gas supplies in three regions: the US, South America, and Russia.