Global natural gas production 1998-2024
Global natural gas production reached a record high of 4.19 trillion cubic meters in 2024, continuing a general upward trend that has persisted for decades. The increase in production aligns with rising global natural gas demand, which is projected to surpass 5.3 trillion cubic meters by 2050, driven largely by consumption in the Asia Pacific region.
Liquefied natural gas trade expands
As natural gas production rises, so does the global trade in liquefied natural gas (LNG). In 2023, LNG trade volume reached 549 billion cubic meters, with the United States emerging as the world's largest LNG exporter. The growth in LNG trade is supported by increasing liquefaction capacity, which reached 483.1 million metric tons in 2023, a 76 percent increase since 2010, although growth has slowed in recent years.
United States leads in production and exports
The United States has solidified its position as the world's leading natural gas producer and exporter. In 2023, U.S. production reached approximately one trillion cubic meters, accounting for roughly one fourth of global production. It significantly outpaces Russia, the second-largest producer. U.S. production dominance extends to exports, with the U.S. shipping 89.1 billion cubic meters via pipelines and 114.4 billion cubic meters as LNG in 2023.
