World's Top 15 Natural Gas Proven Reserve Holders, Jan 1, 2012 -- OGJ

by David Rachovich

Estimated Proved Reserves of Natural Gas

Rank	Country	Proved reserves (billion cubic feet), Jan 1, 2012	Proved reserves (billion cubic feet), Jan 1, 2011	Proved reserves (billion cubic feet), Jan 1, 2010	Share of total, Jan 1, 2012
1.	Russia	1,680,000	1,680,000	1,680,000	24.9%
2.	Iran*	1,168,000	1,045,670	1,045,670	17.3%
3.	Qatar*	890,000	895,800	899,325	13.2%
4.	Saudi Arabia*	283,000	275,200	263,000	4.2%
5.	United States	272,509	244,656	244,656	4.0%
6.	Turkmenistan	265,000	265,000	265,000	3.9%
7.	United Arab Emirates*	215,035	227,900	214,400	3.2%
8.	Venezuela*	195,100	178,860	175,970	2.9%
9.	Nigeria*	180,458	186,880	185,280	2.7%
10.	Algeria*	159,000	159,000	159,000	2.4%
11.	Indonesia	141,060	106,000	106,000	2.1%
12.	Iraq*	111,520	111,940	111,940	1.7%
13.	China	107,000	107,000	107,000	1.6%
14.	Kazakhstan	85,000	85,000	85,000	1.3%
15.	Malaysia	83,000	83,000	83,000	1.2%
World total		6,746,751	6,647,341	6,609,346	100.0%
Total OPEC**		3,330,137	3,211,152	3,182,829	49.4%

Notes: OGJ's annual look at worldwide gas reserves shows an increase to 6,746.8 trillion cubic feet/tcf from 6,647.3 tcf in last year's survey. Total gas reserves for OPEC are up nearly 4% from a year ago. Reported gas reserves climbed by 12% in Iran to 1,168 tcf and declined in Libya by 3% to 52.8 tcf. As of Jan. 1, 2012, OPEC's gas reserves totaled 3,330.1 tcf, or 49% of the worldwide total. Dry natural gas proved reserves in the United States were estimated at 272.5 tcf for 2009, according to the U.S. Energy Information Administration. EIA also reported that proved reserves of wet gas, which includes natural gas plant liquids, increased by 11% in 2009 to 284 tcf. This is their highest level since 1971. Shale gas development in Louisiana, Arkansas, Texas, Oklahoma, and Pennsylvania drove the increase in proved reserves of natural gas. Louisiana led the nation in wet natural gas proved reserves additions with a 77% increase of 9.2 tcf owing primarily to development of the Haynesville shale. Please read Marilyn Radler, "Worldwide Oil Production Steady in 2011; Reported Reserves Grow," OGJ, Dec. 5, 2011. According to the OGJ, Australia is not in the Top 15 this year? -- D.R.

* OPEC member. Data for Kuwait and Saudi Arabia exclude one-half of the reserves in the Kuwait-Saudi Arabia Neutral Zone. Neutral Zone contains 1,000 bcf, i.e. 1 tcf, of gas reserves.

**Including also Angola, Ecuador, Libya, Kuwait and the Neutral Zone.

Sources: "Worldwide Look at Reserves and Production [Table]," Oil & Gas Journal, Dec, 2011; "Special Report – Worldwide Look at Reserves and Production," OGJ, Dec 6, 2010.

(The United States has surpassed Turkmenistan as the world's fifth largest natural gas proven reserve holder and please see notes above. Also, please see Aaron and David Rachovich, "World's Top 22 Natural Gas Proven Reserve Holders, Jan 1, 2011 – OGJ," and (update) "World's Top 24 Natural Gas Proven Reserve Holders, Jan 1, 2013 -- OGJ." According to OGJ, Oman has proven reserves of natural gas of 30 tcf as of Jan. 1, 2012 -- unchanged from Jan. 1, 2011. Also, please see "World's Top 23 Proven Oil Reserves Holders, Jan 1, 2012 -- OGJ," the world's largest oil and gas companies by the combined production volumes of oil and natural gas: "Mid 2012 Ranking of the World's Biggest Oil & Gas Companies -- Forbes" and the world's largest oil and gas companies by oil and gas reserves, oil and gas production, product sales and refinery distillation capacity, i.e. PIW rankings: "[Petroleum Intelligence Weekly Ranks World's Top 50 Oil Companies -- ] Suncor Up, ConocoPhillips Down in PIW`s New Top 50 Oil Rankings." – D.R.)