Russia has the largest reserves of natural gas followed by Iran and Qatar. Together, the three countries accounted for half of the world’s natural gas reserves in 2020.
Russia has proven reserves of about 48,938 bcm, Iran of 34,077 bcm, and Qatar of 23,831 bcm.
Which countries export the most natural gas?
Unlike the Organization of the Petroleum Exporting Countries (OPEC), there is not a multinational organisation for major gas exporters that adjusts supply to balance the market.
However, the Gas Exporting Countries Forum (GECF) exists as an 11-member organisation comprising Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Russia, Trinidad and Tobago and Venezuela.
Angola, Azerbaijan, Iraq, Malaysia, Mozambique, Norway, Peru and the United Arab Emirates have the status of observer members.
More than 80 percent of global exports in gas is tied to 10 major exporters. In 2020, the 10 largest gas exporters in the world were Russia (199,928 mcm), United States (149,538 mcm), Qatar (143,700 mcm), Norway (112,951 mcm), Australia (102,562 mcm), Canada (70,932 mcm), Germany (50,092 mcm), Netherlands (39,976 mcm), Algeria (34,459 mcm) and Nigeria (35,586 mcm).