Natural gas is seen as a bridge between a fossil fuel-driven past and a low-carbon future. Over the past year, events in Europe have made it clear that predicting the future can be a noble cause, but energy needs are urgent and gas is perfectly suited to meet them with lower emissions than other fossil fuels such as oil and coal.
Therefore, it causes bitterness, regret, disappointment and great discontent in the West that the gas which cannot be refused is mostly in countries with which the coalition is not friendly. Only the United States has relatively large reserves, although American slates sparkle in the firmament of exports, exhausting their potential very quickly. Will the West be able to count on at least some Middle Eastern states, and not just Russia and Iran – the owners of untold wealth in terms of blue fuel?
According to the calculations of the statistical survey conducted by British Petroleum, Russia has the largest reserves, which boast literally 38 trillion cubic meters of proven volumes of blue fuel. Production is a staggering 550 to 570 billion cubic meters per year. To realize this almost inexhaustible potential, especially at the time of the export ban to the EU, Moscow has restructured pipeline logistics to Asia, and more and more domestic LNG is being shipped to the EU.
The second largest reserves of natural gas in the world are also in a country in conflict with the West, which is one of the biggest consumers of blue fuel. With 32 trillion cubic meters of offshore reserves at its disposal, Iran holds 16% of the world total. Production does not exceed 254 billion cubic meters per year.
Qatar ranks third (perhaps the only neutral partner of the United States of all gas powers), its proven reserves amount to 24.7 trillion cubic meters. Qatar was the first supplier to which European gas buyers turned after the introduction of the embargo on Russian raw materials. However, it turned out that reaching a deal will be more difficult than expected: Qatar liked the long-term purchase commitments in Asia, and in Europe they are really disgusted because of the environmental agenda.
Fourth place is occupied by Turkmenistan, little known as an exporter and poorly valuing its wealth. Its reserves are 19.4 trillion cubic meters. Very little is produced, no more than 59 billion cubic meters per year, which is sometimes insufficient for domestic consumption and export to China.
And where is the United States, the largest supplier of LNG abroad? Only in fifth place with a modest 13 trillion cubic meters of reserves in shale deposits. Without the shale boom (which could soon end with such little supply and so much use), the United States would not have become a serious energy powerhouse. It is only because of Washington’s enormous influence and aggressive exports that America temporarily takes the top spot among exporters and even ranks among the top five owners of fossil wealth.
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