Saudi Arabia is the world’s 50th-largest producer of natural gas and the country’s output increased by 0.39% in 2023, over 2022. The country accounts for 2% of global production, with the world’s other largest producers being the US, Russia and Iran. GlobalData uses proprietary data and analytics to provide a complete picture of the natural gas sector in Saudi Arabia in its report, Saudi Arabia Exploration & Production, 2023. Buy the report here.
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Over the five years to 2023, production from Saudi Arabia increased by a CAGR of 3% and is expected to rise by a CAGR of 3% between 2024 and 2028.
The largest producer of natural gas in Saudi Arabia is Saudi Arabian Oil with output up by 0.39% on 2022.
There are five natural gas producing fields in Saudi Arabia of which two are located offshore and the rest onshore. The Arabian Gulf has the majority of the natural gas fields in the country with two.
Role of natural gas in the energy transition
Natural gas plays a pivotal role in the global energy transition, serving as a transition fuel towards decarbonisation. As countries navigate the shift from fossil fuels to renewable energy sources, natural gas provides a lower-carbon alternative, aiding in reducing emissions and delivering reliable energy given the fluctuating availability of wind and solar power. Its versatility and abundance make it a key component in the evolving energy mix.
For more detailed analysis of natural gas sector in Saudi Arabia, buy the report here.
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GlobalData, the leading provider of industry intelligence, provided the underlying research used to produce this article.
This information is drawn from GlobalData’s Oil & Gas Intelligence Center, which provides detailed profiles of 34,000+ oil and gas fields, 400,000+ exploration blocks, 1,100+ LNG terminals, 3,400+ gas processing plants, 5,000+ storage terminals, and 8,000+ pipelines, 1,400+ refineries and 13,000+ petrochemical plants worldwide.
