Oil & Gas

Recent data from the Energy Research Unit in Washington shows that global natural gas reserves grew to 206.43 trillion cubic meters in 2023, up from 205.9 trillion cubic meters in 2022. Within OPEC, gas reserves increased to 75.12 trillion cubic meters from 74.99 trillion cubic meters the previous year. OECD countries also saw their gas reserves rise to 27.34 trillion cubic meters in 2023, compared to 26.62 trillion cubic meters in 2022.

     1. Russia: 44.15 trillion cubic meters

     2. Iran: 33.99 trillion cubic meters

     3. Qatar: 23.83 trillion cubic meters

     4. United States: 17.41 trillion cubic meters

     5. Turkmenistan: 13.95 trillion cubic meters

     6. Saudi Arabia: 9.65 trillion cubic meters (increased from 9.51 trillion cubic meters in 2022)

     7. UAE: 8.21 trillion cubic meters

     8. Nigeria: 5.94 trillion cubic meters (increased from 5.91 trillion cubic meters in 2022)

     9. Venezuela: 5.47 trillion cubic meters (decreased from 5.51 trillion cubic meters in 2022)

    10. Algeria: 4.50 trillion cubic meters

Saudi Arabia's promising developments in gas reserves, including significant discoveries in the Jafoura field, are expected to enhance its standing in the global reserves ranking.