Doha, Qatar: The Middle East region is estimated to witness a notable increase in gas production of 13 billion cubic metres (bcm), with Iran, Qatar and Saudi Arabia as the primary contributors.

The 2023 global gas production data indicates a modest rise of 0.8 percent to reach 4,081 bcm. This increase mainly took place in regions such as North America, the Middle East and Asia Pacific, while production in Europe and the CIS regions declined, according to the monthly gas market report of March 2024 by Gas Exporting Countries Forum (GECF).

Non-GECF countries are estimated to raise their gas production by 2 percent, amounting to 2,379 bcm. The US is estimated to register growth of 43 bcm compared to 2022 production levels, largely due to increased associated gas production from shale oil fields.

The report noted that in 2024, global gas production is estimated to increase by 115 bcm to reach 4196 bcm. This increase is expected to originate mainly from the growth of the Russian gas production, driven by new projects start-ups.

February 2024 witnessed a month on month (m-o-m) rise of 5 units in the global number of gas drilling rigs, reaching 397 rigs.

The report further stated, in February 2024, global LNG exports were up marginally by 1 percent (0.35 million tonnes) (Mt) year on year (y-o-y) to stand at 33.95 Mt. Both GECF and non-GECF countries supported the increase in LNG exports and offset weaker LNG reloads.

The share of LNG exports from GECF Member Countries also increased from 46.7 percent to 47.1 percent, while the share of reloads declined sharply from 2.5 percent to 0.7 percent. Between January and February 2024, global LNG exports grew by 4 percent (2.74 Mt) y-o-y to 71.45 Mt, driven by GECF and non-GECF countries. The US was the largest LNG exporter in February, followed closely by Australia and

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