Compared to the fact that one of the most important energy sources of our time is natural gas, very few countries have control over the Earth’s gas reserves. For example, the United States is sitting on the fifth largest stockpile. We list who owns the most significant reserves!
Few countries have significant natural gas reserves
According to research by Visual Capitalist, Russia has the largest natural gas reserves in the world. Moscow owns 19.9 percent of global gas reserves. They are followed by Iran with 17.1 percent and Qatar with 13.1 percent. Turkmenistan (7.2 percent), the United States (6.7 percent), China (4.5 percent), and Saudi Arabia (3.2 percent), which is primarily known as an oil producer, have other significant reserves. The United Arab Emirates (3.1 percent) and Nigeria (2.9 percent) also entered the top 10. So these ten countries are sitting on more than 80 percent of global natural gas reserves.
It is clear that Asia plays a leading role in this division with six countries. In Europe, Azerbaijan and Norway have significant reserves. It is true that the European and Asian areas of Russia are also rich in resources.
Vg notes that while the United States is “only” fifth in terms of proven reserves, it is the largest gas producer. Because 23 percent of global production can be attributed to the USA. So it is no wonder that it also plays a leading role in the export of the key energy source.
The EU may need improvements to wean itself off Russian gas
By the way, based on the speeches of oil and gas industry leaders at the CERAWeek energy conference, the European Union needs infrastructural developments if it wants to get rid of Russian gas by 2027 at least as much as it did with crude oil. This is what the European Commission called on the leadership of the member states to do, reports Reuters.
The redirection of liquefied natural gas and the construction of reprocessing terminals are not a long-term solution
– we quoted John Ardill, vice president of Exxon Mobil, a few weeks ago.
The infrastructure was not and still is not there. At this stage, Europe would not be able to cut off LNG. Unlike oil, Europe is a bit more pragmatic when it comes to receiving Russian gas. (…) Gunvor continues to fulfill its long-term contract for the delivery of Russian LNG to Europe, but there is no room for the volume of Russian LNG on the spot market
Torbjörn Törnqvist, president of Gunvor, added.
