The US is the world’s first-largest producer of natural gas and the country’s output increased by 21% in 2023, over 2022. The country accounts for 27% 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 the US in its report, United States of America (USA) Lower 48 Unconventional Oil and Gas (Major Shale Plays) Market Analysis, Trends, Competitive Benchmarking, Deals and Forecast, 2021-2026. Buy the report here.
Over the five years to 2023, production from the US increased by a CAGR of 7% and is expected to rise by a CAGR of 0.97% between 2024 and 2028.
The largest producers of natural gas in the US are EQT, Southwestern Energy and Chesapeake Energy. EQT was the largest producer of natural gas in 2023 with output up by 4% on 2022.
Southwestern Energy was the second-largest producer, with output down by 5%, and Chesapeake Energy was third with a decrease of 4% on the previous year.
There are 392 natural gas producing fields in the US of which 88 are located offshore and the rest onshore. The Central Planning Area has the majority of the natural gas fields in the country with 91.
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 the US, 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.
