The Top Natural Gas Companies in The World

3/22/22, 11:13 AM The Top Natural Gas Companies in the World
FUNDAMENTAL ANALYSIS

SECTORS & INDUSTRIES
The Top Natural Gas Companies in the World

By
J. WILLIAM CARPENTER
Updated September 13, 2021
Fact checked by
SUZANNE KVILHAUG
Most of the world's biggest producers of natural gas are global energy giants with
worldwide oil and gas operations spanning the full range of upstream and downstream
activities. When production is viewed by country, the U.S. is the top producer of natural gas
followed by Russia, Iran, Qatar, China, and Canada. [1] Here's a look at the top producers of
natural gas, along with some key facts about each company.
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KEY TAKEAWAYS
The United States is the top producing country of natural gas in the world,
followed by Russia, Iran, Qatar, China, and Canada.
The largest oil and gas company in the world by revenues is China's China National
Petroleum/PetroChina.
The top ten natural gas companies in the world are from the U.S., Russia, Saudi
Arabia, Netherlands, China, the U.K., and France.
China National Petroleum/PetroChina

China National Petroleum (CNPC) is China's largest natural gas producer. It reported
production of 130.6 billion cubic meters of natural gas per year in China as of Dec. 31, 2020.
CNPC also has vast oil and petrochemical production and oil and gas marketing
operations. [2]
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While CNPC is a state-owned enterprise, much of its operations are organized under a
publicly-listed subsidiary company, PetroChina Company (PTR). PetroChina shares are
listed on the NYSE, the Hong Kong Stock Exchange, and the Shanghai Stock Exchange.
Petrochina is involved in both the oil and natural gas industry with exploring, production,
storage, and marketing operations.
In 2020, PetroChina had revenues of $299 billion, making it the second-largest oil and gas
company in the world. It has a market cap of $139 billion. [3] [4]
Saudi Arabian Oil Co. (Saudi Aramco)

Saudi Aramco is the second-largest natural gas company in the world. As of 2020, the
company had 31 million barrels of natural gas reserves. Revenues for 2020 were $205
billion and net income was $41 billion, making it one of the most profitable companies in
the world. [5] [6] [7]
The company is also the world's largest oil producer, being the sole provider of natural gas
and oil to Saudi Arabia. Saudi Arabia's oil and gas industry made up 50% of its GDP in 2018.
The company has a market cap of $1.86 trillion. [8] [7]
BP
London-headquartered BP (BP) is a global energy giant with vast operations spanning the
length of the oil and gas supply chain. The company reported natural gas production of
about 7.9 billion cubic feet per day in 2020. [9]
BP operates major natural gas production sites around the globe, from the Americas to the
Middle East to Southeast Asia. It also has substantial worldwide oil exploration and
production operations, in addition to petrochemical, lubricant, and retail gasoline
businesses.
The company had 2020 revenues of $183.5 billion and has a market capitalization of $82
billion. [10] [11]
ExxonMobil
ExxonMobil (XOM) produced 8.5 billion cubic feet of natural gas per day in 2020, the lowest
amount in the past seven years and part of a continuing decline. [12] It is the largest oil and
gas company in the United States based on revenue.
The company had 2020 revenues of $181.5 billion and has a market capitalization of $228.5
billion. [13]
Royal Dutch Shell

Royal Dutch Shell (RDS.A), also known as Shell Global, reported production of 2.79 trillion
standard cubic feet of natural gas in 2020, the largest portion coming from Asia, which
accounted for 838 billion standard cubic feet. The company's natural gas operations are
spread across the globe. [14]
In addition to its natural gas operations, Royal Dutch Shell has vast crude oil exploration
and production activities, as well as downstream operations including refineries,
petrochemical plants, and retail service stations. Royal Dutch Shell is headquartered in the
Netherlands and incorporated in the U.K.
The company had revenues of $180.5 billion in 2020 with a market capitalization of $153
billion. [15]
Total
Total (TTE), a French oil and gas company, is an integrated oil and gas company with
worldwide upstream and downstream operations. It produced 7.25 billion cubic feet of gas
per day in 2020. The bulk of Total's hydrocarbon reserves are in Europe and Central Asia,
followed by the Middle East and North Africa. [16] [17]
In 2020, Total had revenues of $140.7 billion and has a market cap of $114.4 billion. [18] [19]
Chevron
Chevron (CVX), an American integrated energy giant, reported daily natural gas production
of about 5.7 billion cubic feet per day in 2020, right in line with the company's production
levels in recent years. The company operates major natural gas fields across the globe,
including sites in Asia, Australia, Africa, Europe, Latin America, and North America. [20]
FAST FACT
Total global natural gas production in 2020 was approximately 3.85 trillion
cubic meters. [21]
Chevron also maintains vast upstream oil operations and downstream activities in

petrochemicals, lubricants, additives, and gasoline. Chevron has a market capitalization of
about $185.8 billion and 2020 revenues of $94.7 billion. [22] [23]
Rosneft Oil Co.

Rosneft (OJSCY) is a Russian oil company that is controlled by the Russian government. It is
involved in the exploration and production of hydrocarbons. In 2020, the company
produced 62.8 billion cubic meters of natural gas. This was a decline from the previous
year, which the company attributes to a decline in petroleum gas production. [24]
The company had 2020 revenues of $78 billion and has a market cap of $71 billion. [25] [26]
Lukoil
Lukoil (LUKOY) is another Russian company on the list. The company extracts and refines
oil and natural gas primarily from western Siberia. The company produced 29 billion cubic
meters of gas in 2020; 60% of which was from Russia and the remainder from international
operations. [27]
Lukoil had revenues of $77.8 billion in 2020 and has a market cap of $56 billion. [28] [29]
Gazprom
Russia's Gazprom (OGZPY) was responsible for the production of over 431 billion cubic
meters of natural gas in 2020. Gazprom dominates the Russian natural gas industry as its
largest gas producer. [30]
Gazprom is controlled by the Russian government, which holds slightly more than 50% of
outstanding shares in the company. The company had revenues of $27.6 billion in 2020 and
has a market cap of $106 billion. [31] [32] [33]
What Is the Largest Natural Gas Company in the World?
The company that produces the most natural gas in the world is Russia's Gazprom, which
produced over 431 billion cubic meters of gas in 2020. The largest natural gas company by
revenues, which is also an oil company, is China's China National Petroleum. [30]
What Are the Top Producing Natural Gas States in the U.S.?
The top five natural gas-producing states in 2019 were Texas (23.9%), Pennsylvania
(20.0%), Louisiana (9.3%), Oklahoma (8.5%), and Ohio (7.7%), which all totaled 69.4% of
U.S. natural gas production. [34]
What Three Countries Are the Largest Consumers of Natural Gas?

The top three consuming countries of natural gas are the United States (871 billion cubic
meters), Russia (484 billion cubic meters), and China (326 billion cubic meters). [35]
The Bottom Line

The largest natural gas companies are also some of the largest oil companies as most
energy companies are diversified across business sectors. The largest companies are from
China and Saudi Arabia, with the U.S. coming in at number four. Though natural gas
production in 2020 declined from 2019, it is expected to grow for the foreseeable future to
meet global demand.
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The oil giant is the world's most profitable company, eclipsing even tech giants like Apple and
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Measuring Natural Gas in MCF

MCF is an abbreviation that refers to the way natural gas is measured in the United States, in which the
imperial measuring system is used.
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Billions of Cubic Feet Equivalent (BCFE): An Explanation

Billions of cubic feet equivalent is a natural gas term used to measure how much natural gas is either
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Saudi Riyal (SAR)

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Trillion Cubic Feet (Tcf)

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Integrated Oil and Gas Company

An integrated oil and gas company is a business entity that engages in the exploration, production,
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3/22/22, 11:13 AM The Top Natural Gas Companies in the World

The Top Natural Gas Companies in the World

China National Petroleum/PetroChina

Saudi Arabian Oil Co. (Saudi Aramco)

Royal Dutch Shell

Chevron also maintains vast upstream oil operations and downstream activities in

Rosneft Oil Co.

What Is the Largest Natural Gas Company in the World?

What Three Countries Are the Largest Consumers of Natural Gas?

The Bottom Line

Compete Risk Free with $100,000 in Virtual Cash

Sign up for our daily newsletters

Listen to the Investopedia Express podcast on

Get daily insights on what's moving the markets

Learn to trade stocks by investing $100,000

Measuring Natural Gas in MCF

Billions of Cubic Feet Equivalent (BCFE): An Explanation

Saudi Riyal (SAR)

Trillion Cubic Feet (Tcf)

Integrated Oil and Gas Company

About Us Terms of Use

Dictionary Editorial Policy

Privacy Policy Contact Us

Careers California Privacy Notice

Investopedia is part of the Dotdash Meredith publishing family.

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