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20 Biggest Natural Gas Companies in the World

In this article, we will be covering the 20 biggest natural gas companies in the world. If you want to skip our detailed analysis of the global natural gas market, you can go directly to 5 Biggest Natural Gas Companies in the World.

The Global Natural Gas Industry at a Glance

Natural gas is an important fossil fuel that plays a significant role in the global energy sector. It is used for various purposes, including electricity generation, heating, and as a fuel source for vehicles. The natural gas industry involves the extraction, processing, and distribution of this resource to meet the rising energy demands worldwide. According to a report by The Business Research Company, the global natural gas market was valued at $1.02 trillion in 2023. Looking forward, the market is expected to grow at a compound annual growth rate (CAGR) of 7.7% from 2024 to 2028 to reach a value of $1.51 trillion by the end of the forecast period.

Economic growth, industrialization, and the rising demand for energy and electricity are key factors driving growth in the global natural gas market. Technological advancements and innovations within the global natural gas industry are further augmenting market growth. According to the International Energy Agency (IEA), gas-fired generation accounted for more than 20% of global electricity generation in 2022. In the United States, which ranks high among the countries with the highest energy consumption, gas-fired generation grew by approximately 7% in 2022.

Leading Companies in the Global Natural Gas Market

Some of the biggest companies in the global natural gas industry are Exxon Mobil Corporation (NYSE:XOM), Chevron Corporation (NYSE:CVX), and Shell plc (NYSE:SHEL).

Shell plc (NYSE:SHEL) is a British multinational oil and gas company that is engaged in the exploration, production, refining, and marketing of natural gas and oil. Shell plc (NYSE:SHEL) is also one of the most profitable natural gas stocks. On February 1, Shell plc (NYSE:SHEL) reported strong earnings for the fiscal first quarter of 2024. The company reported earnings per share (EPS) of $2.22, surpassing EPS estimates by $0.36. The company reported a revenue of $78.73 billion. Here are some comments from Shell plc’s (NYSE:SHEL) Q4 2023 earnings call:

“The most significant contribution in the short term comes from focusing on where we play, which are essentially portfolio choices. And at the same time, we are emphasizing a bottom-up focus to create a leaner more agile organization that delivers more value. We are also leveraging new technologies such as artificial intelligence to improve the performance of our assets.

We have millions of sensors collecting over 5 trillion rows of data that our AI models, combined with our conventional models used to monitor equipment 24 hours a day, 7 days a week, alerting engineers to anomalies from a distance. This enables us to intervene and fix issues early, improving our performance, and we continue to high-grade our portfolio and position the company for growth into the future.”

As the global energy landscape continues to evolve, major gas companies are expanding their product portfolios to adapt to changing market needs. Chevron Corporation (NYSE:CVX) is one of the world’s biggest integrated energy companies. It produces crude oil and natural gas and manufactures transportation fuels, lubricants, and petrochemicals. On February 29, Chevron Corporation (NYSE:CVX) reported that a division of the company, Chevron New Energies, is developing a 5-megawatt hydrogen production project in Central Valley, California. This project aims to generate low-carbon energy by utilizing solar power, land, and non-potable water from Chevron Corporation’s (NYSE:CVX) existing assets at the Lost Hills Oil Field in Kern County. The company’s goal is to produce two tons of low-carbon intensity (LCI) hydrogen per day, with the aim of supporting an expanding hydrogen refueling network. The hydrogen will be produced through electrolysis, a process that involves using electricity to split water into hydrogen and oxygen.

On February 21, Reuters reported that a consortium led by Exxon Mobil Corporation (NYSE:XOM) is considering the development of its first offshore natural gas production project in Guyana, near the country’s maritime border with Suriname. The consortium includes Exxon Mobil Corporation (NYSE:XOM), Hess Corporation (NYSE:HES), and CNOOC Limited (HKG:0883). In 2015, the consortium discovered over 11 billion barrels of oil and gas in the South American country. According to the report, the earliest the consortium could start gas production in the prospective field near Suriname is expected to be 2029 or 2030.

Now that we have discussed what’s going on in the global natural gas industry, let’s take a look at the 20 biggest natural gas companies in the world.

Aerial view of a natural gas production facility with travelling pipelines extending from it.

Methodology

In this article, we have listed the 20 biggest natural gas companies in the world. To find the top natural gas companies in the world, we sifted through various sources including industry reports, our own rankings in addition to rankings available on various websites, and consulted stock screeners from Yahoo Finance and Finviz. For companies that are publicly traded, we decided to rank them according to their market capitalization as of March 11, 2024. We used fiscal year revenues to rank the companies that are not publicly traded. For foreign companies, we converted the market caps and revenues to US dollars according to their respective exchange rates. Finally, we narrowed down our selection to rank the 20 largest natural gas companies in the world based on their market capitalization and revenues, which are listed below in ascending order.

20 Biggest Natural Gas Companies in the World

20. Duke Energy Corporation (NYSE:DUK)

Market Capitalization: $73.87 Billion

Duke Energy Corporation (NYSE:DUK) is an American electric power and natural gas holding company that ranks among the 20 biggest natural gas companies in the world. It is engaged in electric power and natural gas distribution operations. Duke Energy Corporation (NYSE:DUK) has a market capitalization of $73.87 billion as of March 11, 2024.

19. The Southern Company (NYSE:SO)

Market Capitalization: $76.13 Billion

Southern Company is an American gas and electric utility holding company that ranks 19th on our list of the biggest natural gas companies in the world. It serves millions of natural gas utility customers in the US. The Southern Company (NYSE:SO) has a market capitalization of $76.13 billion as of March 11, 2024.

18. Equinor ASA (NYSE:EQNR)

Market Capitalization: $76.42 Billion

Equinor ASA (NYSE:EQNR) is a Norwegian state-owned multinational energy company that is engaged in the exploration, development, and production of natural gas and oil. It is one of the largest gas producers in Europe. As of March 11, 2024, Equinor ASA (NYSE:EQNR) has a market capitalization of $76.42 billion. It is also one of the most valuable oil companies in the world.

17. Enbridge Inc. (NYSE:ENB)

Market Capitalization: $76.78 Billion

Enbridge Inc. (NYSE:ENB) is a Canadian multinational pipeline and energy company. It owns and operates pipelines throughout Canada and the US, transporting crude oil, natural gas, and natural gas liquids. It is one of North America’s largest natural gas utility companies by volume. As of March 11, 2024, Enbridge Inc. (NYSE:ENB) has a market capitalization of $76.78 billion.

16. Canadian Natural Resources Limited (NYSE:CNQ)

Market Capitalization: $77.25 Billion

Canadian Natural Resources Limited (NYSE:CNQ) is a Canadian oil and natural gas company. As one of the world’s largest independent crude oil and natural gas producers, Canadian Natural Resources Limited (NYSE:CNQ) has a market capitalization of $77.25 billion as of March 11, 2024.

15. PT Pertamina (Persero)

Revenue: $84.88 Billion

PT Pertamina (Persero) is an Indonesian state-owned oil and natural gas corporation that ranks among the top 15 on our list of the biggest natural gas companies in the world. It is engaged in the exploration, development, and production of oil and natural gas. PT Pertamina (Persero) generated a revenue of $84.88 billion in 2022.

14. Petronas

Revenue: $85.36 Billion

Petronas, also known as National Petroleum Limited, is a Malaysian multinational oil and natural gas company. With a presence in over 100 countries, it is one of the biggest oil and gas companies in the world. Petronas generated a revenue of $85.36 billion in 2022.

13. Abu Dhabi National Energy Company PJSC (ADX:TAQA)

Market Capitalization: $96.74 Billion

Abu Dhabi National Energy Company PJSC (ADX:TAQA) is a government-controlled energy holding company of Abu Dhabi, United Arab Emirates. The company specializes in oil and natural gas exploration and production, pipelines, underground gas storage, power generation, and water desalination. Galaxy Entertainment Group Limited (SEHK:0027) has a market capitalization of $96.74 billion as of March 11, 2024.

12. China Petroleum & Chemical Corporation (SHA:600028)

Market Capitalization: $97.68 Billion

China Petroleum & Chemical Corporation (SHA:600028), also known as Sinopec, is a Chinese oil and gas enterprise. As a vertically integrated company, it is engaged in oil and natural gas exploration and production. China Petroleum & Chemical Corporation (SHA:600028) has a market capitalization of $97.68 billion as of March 11, 2024. It ranks 12th on our list of the biggest natural gas companies in the world.

11. BP plc (NYSE:BP)

Market Capitalization: $103.04 Billion

BP plc (NYSE:BP) is a British multinational oil and gas company that is headquartered in London, England. As one of the world’s largest integrated energy companies, it has oil and gas operations and interests in many countries around the world  As of March 11, 2024, BP plc (NYSE:BP) has a market capitalization of $103.04 billion.

10. Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR)

Market Capitalization: $106.84 Billion

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) is a state-owned Brazilian multinational energy company that ranks among the top 10 on our list of the biggest natural gas companies in the world. As an integrated oil and gas company, it is the main producer of natural gas in Brazil. As of March 11, 2024, Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) has a market capitalization of $106.84 billion.

9. CNOOC Limited (HKG:0883)

Market Capitalization: $110.84 Billion

CNOOC Limited (HKG:0883) is China’s offshore crude oil and natural gas company that is engaged in the exploration, development, production, and sale of crude oil and natural gas. As one of the largest oil and gas companies in the world, CNOOC Limited (HKG:0883) has a market capitalization of $110.84 billion as of March 11, 2024.

8. Pemex

Revenue: $118.54 Billion

Pemex, also known as Petróleos Mexicanos, is a Mexican state-owned fully integrated oil and gas company. company. Managed and operated by the Mexican government, it is one of the world’s largest energy companies by revenue. Pemex generated a revenue of $118.54 billion in 2022 and it ranks 8th on our list of the biggest natural gas companies in the world.

7. ConocoPhillips (NYSE:COP)

Market Capitalization: $135.58 Billion

ConocoPhillips (NYSE:COP) is an American multinational oil and gas corporation. The company explores, produces, transports, and markets oil, natural gas, natural gas liquids, and liquefied natural gas. As one of the world’s largest oil and gas companies, ConocoPhillips (NYSE:COP) has a market capitalization of $135.58 billion as of March 11, 2024.

6. TotalEnergies SE (NYSE:TTE)

Market Capitalization: $153.96 Billion

TotalEnergies SE (NYSE:TTE) is a French multinational integrated energy company. As one of the world’s largest energy companies, it produces and markets oil, biofuels, natural gas, renewables, and electricity. With a market capitalization of $153.96 billion as of March 11, 2024, TotalEnergies SE (NYSE:TTE) ranks 6th on our list of the 20 biggest natural gas companies in the world.

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Disclosure: None. 20 Biggest Natural Gas Companies in the World is published on Insider Monkey.

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