Natural gas reserves by country(2023) ... Ukraine to "shut down Russia-Europe gas pipeline in 2025"
Natural gas reserves by country(2023)
Ukraine to "shut down Russia-Europe gas pipeline in 2025"
Russia, No.1 in natural gas reserves ... After the war in Ukraine, weaponized natural gas
Natural gas is used for electricity generation, heating, vehicle fuel, and a variety of industrial processes.
This post was written by Gopalakrishnan Ravichandran using BP statistics as of September 2023 and visualizations from Visualcapitalist.com.
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| Natural Gas Reserves, by Country |
Natural gas reserves ranking
- Russian Federation : 37.4tcm, 19.9%
- Iran : 32.1tcm, 17.1%
- Qatar : 24.7tcm, 13.1%
- Turkmenistan : 13.6tcm, 7.2%
- US : 12.6tcm, 6.7%
- China : 8.4tcm, 4.5%
- Venezuela : 6.3tcm, 3.3%
- Saudi Arabia : 6.0tcm, 3.2%
- UAE : 5.9tcm, 3.1%
- Nigeria : 5.5tcm, 2.9%
The reserves above are the amount of natural gas that can be extracted under existing economic and operating conditions. It is an amount that may increase or change in the future. Russia tops the list with 37.4 trillion cubic meters.
By region, Asia has the most. Six of the top 10 countries are Asian, with Africa, Europe, North America, and South America rounding out the top four.
The United States ranks 5th in terms of reserves, but 1st in terms of production. It accounts for 23% of the global share. In terms of production, Russia is 2nd (17.4%) and Iran is 3rd (6.4%).
In terms of exports, the US ranks 1st, followed by Russia 2nd, Qatar 3rd, and Norway 4th.
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| Natural Gas; stockcharts.com(https://stockcharts.com/sc3/ui/?s=%24NATGAS) |
Europe's energy resources are in Russia's hands?
When Russia invaded Ukraine, Germany was one of the countries most upset.
Germany imports about 50% of its coal and natural gas and 30% of its oil from Russia, and the situation was similar for most of Europe.
As Russia invaded Ukraine, there was concern that Europe would have an unusually harsh winter, and while the war was going on, the world was watching international oil and natural gas prices, worried about the winter in Europe.
Ukraine has announced that it will stop servicing the gas pipeline between Russia and Europe starting in 2025, and Europe is now faced with finding new oil and gas pipelines that don't go through Ukraine, or alternative import options.
In the wake of Russia's invasion of Ukraine, threats to NATO, and the growing hegemonic rivalry between the U.S. and China, it's time for South Korea to think about its energy resource supply chain.
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