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Global natural gas production reached a record high of *** 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 ** 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 * 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 *** metric tons in 2023, a ** 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 ** cubic meters, accounting for roughly of global production. It significantly outpaces Russia, the second-largest producer. U.S. production dominance extends to exports, with the U.S. shipping **** billion cubic meters via pipelines and *** cubic meters as LNG in 2023.